Form 4: Bessemer Venture Partners Divests 500,000 ServiceTitan Class A Common Shares

Bessemer Venture Partners, a 10% owner and director of ServiceTitan, Inc., reported the sale of 500,000 shares of Class A Common Stock for $102 per share.

Summary

• Bessemer Venture Partners VIII L.P., Bessemer Venture Partners VIII Institutional L.P., and 15 Angels II LLC (collectively, the "Bessemer Funds"), along with other related entities, reported the sale of ServiceTitan, Inc. (TTAN) Class A Common Stock.
• On June 10, 2025, a total of 500,000 shares of Class A Common Stock were sold at a price of $102 per share.
• Specifically, Bessemer Venture Partners VIII L.P. sold 221,596 shares, Bessemer Venture Partners VIII Institutional L.P. sold 266,502 shares, and 15 Angels II LLC sold 11,902 shares.
• Following these sales, the Bessemer Funds and Cloud All Star Fund, L.P. collectively beneficially own 8,503,571 shares of Class A Common Stock.
• Individual beneficial holdings after the sale are: Bessemer Venture Partners VIII L.P. with 3,767,626 shares, Bessemer Venture Partners VIII Institutional L.P. with 4,531,109 shares, 15 Angels II LLC with 202,366 shares, and Cloud All Star Fund, L.P. with 2,470 shares.

Sentiment

Score: 3

Explanation: The sale of a substantial number of shares by a significant insider and director typically indicates a negative sentiment or a strategic divestment, which can be viewed unfavorably by the market.

Negatives

• A significant sale of 500,000 shares by a 10% owner and director, Bessemer Venture Partners, could be perceived negatively by the market, potentially signaling a lack of confidence or a strategic portfolio rebalancing.

Risks

• Potential negative investor sentiment due to a significant insider sale by a 10% owner and director.

Future Outlook

NA

Industry Context

This filing is a standard insider transaction report (Form 4) and does not provide direct insights into broader industry trends or competitive landscape, focusing solely on the change in beneficial ownership by a significant investor.

Related Party Transactions

• The filing details the relationships between the reporting entities: 15 Angels II LLC is a subsidiary of Bessemer Venture Partners VIII Institutional L.P.
• Deer VIII & Co. L.P. is the general partner of Bessemer Venture Partners VIII L.P. and Bessemer Venture Partners VIII Institutional L.P.
• Deer VIII & Co. Ltd. is the general partner of Deer VIII & Co. L.P.
• Certain affiliates of the Bessemer Funds own a material interest in Cloud All Star Fund GP, LLC, the general partner of Cloud All Star Fund, L.P., which has voting and dispositive power over shares held by Cloud All Star Fund, L.P.
• Byron Deeter, David Cowan, Jeremy Levine, Robert P. Goodman, Scott Ring, Sandra Grippo, and Robert M. Stavis are directors of Deer VIII & Co. Ltd. and hold voting and dispositive power for the Bessemer Funds, making investment and voting decisions as an investment committee.

Stakeholder Impact

• Shareholders may interpret the significant insider sale as a negative signal regarding the company's future prospects or valuation, potentially impacting investor confidence and stock price.

Key Dates

Keywords

SEC Form 4, insider trading, stock sale, beneficial ownership, ServiceTitan, TTAN, Bessemer Venture Partners, equity transaction, institutional investor