While late-stage startups have been reluctant to take the public market leap, investors are showing a growing appetite for tech.
"The reception is great. The water feels wonderful," Vahe Kuzoyan, ServiceTitan's president, told CNBC in an interview. Nina Achadjian, a partner at Index Ventures and ServiceTitan board member, said she's gotten many text messages from other venture capitalists saying the outcome opens up the window for more IPOs.
On Wednesday, the Nasdaq Composite index closed above 20,000 for the first time. Tesla, Alphabet, Amazon and Meta all closed at records, with Apple just below its all-time high.