Dec 11 (Reuters) - Software startup ServiceTitan priced

its U.S. initial public offering at $71 per share, it said on

Wednesday, in an IPO that could see it raise $624.8 million.

The IPO was priced above the company's previously indicated

range of $65 to $67 and values it at around $6.30 billion,

according to Reuters calculations.

The U.S. IPO market, which was impacted by high interest

rates and market volatility for over two years, has been

rejigged by an ebullient stock market and the Federal Reserve's

rate-cut cycle.

ServiceTitan will join a handful of venture capital-backed

firms, including social media platform Reddit ( RDDT ) and

cybersecurity software firm Rubrik ( RBRK ), which have all gone

public this year.

The company is selling 8.8 million shares in the IPO and

will be listed on Nasdaq under the ticker symbol "TTAN."

ServiceTitan plans to use the proceeds from the share sale

to increase capitalization and financial flexibility, according

to its IPO filing.

The company was valued at $9.5 billion after a Thoma

Bravo-led funding round in 2021.

Founded by Ara Mahdessian and Vahe Kuzoyan, ServiceTitan has

become a dominant player in a niche market, making software used

by more than 11,800 businesses that are run by technicians

serving the heating, ventilation and air-conditioning sectors.

ServiceTitan, whose rivals include Salesforce ( CRM ), SAP

and Jobber, was incorporated in 2007 as LinxLogic. It

first launched its platform in 2012 and was renamed to

ServiceTitan in 2014.

Goldman Sachs, Morgan Stanley, Wells Fargo and Citigroup are

leading a 14-firm underwriting syndicate for the IPO.

(Reporting by Pritam Biswas, Nilutpal Timsina and Angela

Christy in Bengaluru; Editing by Varun H K)