ServiceTitan, a software company focused on the trades industry, made a strong debut on the Nasdaq, with its shares closing up 42.25% at $101, resulting in a market capitalization of approximately $8.9 billion. The company raised around $625 million in its initial public offering (IPO). Despite the positive reception, analysts noted that this would still be considered a down-round IPO for the venture-backed firm. The IPO has generated significant returns for early investors, including over $1 billion for Iconiq Growth and more than $800 million for Bessemer Venture Partners. Following the IPO, ServiceTitan's valuation reached $10 billion, marking a notable achievement in the tech sector amidst a challenging market environment for IPOs.