
Total amount raised
$635.1 Millions
Latest funding date

Location
Tekion has successfully raised significant funding over multiple rounds, achieving a valuation of over $4 billion. The platform offers a cloud-native automotive solution, connecting the entire automotive retail ecosystem through advanced technology.
Keep reading to explore the intricacies of Tekion's fundraising journey and the investors backing this innovative platform.
What Is Tekion?
Founded in 2016, Tekion is based in Pleasanton, California. The company was established by Guru Sankararaman and Jay Vijayan.
Tekion offers a cloud-native platform designed to revolutionize the automotive retail industry. Their solutions connect OEMs, retailers, and consumers through advanced technology, big data, machine learning, and AI.
With a workforce of 1001-5000 employees, Tekion continues to innovate and expand its reach in the automotive sector.
How Much Funding Has Tekion Raised?
- Seed Round
- Amount Raised: $3.1M
- Date: March 2016
- Lead Investors: Storm Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their cloud-native platform.
- Series A
- Amount Raised: $10M
- Date: January 2017
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $22M
- Date: July 2018
- Lead Investors: BMW i Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance platform capabilities.
- Series B
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and support ongoing growth.
- Series C
- Amount Raised: $150M
- Date: October 2020
- Lead Investors: Advent International
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance product offerings.
- Series D
- Amount Raised: $250M
- Date: October 2021
- Lead Investors: Alkeon Capital, Durable Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive innovation and support global expansion.
- Private Equity Round
- Amount Raised: $200M
- Date: July 2024
- Lead Investors: Dragoneer Investment Group
- Valuation at Round: Over $4 billion
- Motivation Behind the Round: To secure growth capital and enhance platform capabilities.
Total Amount Raised: $635.1M. Current Valuation: Over $4 billion.
Key Investors
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is a growth-oriented investment firm with over $23 billion under management. They have a track record of partnering with management teams growing exceptional companies.
- Investment Focus Areas: Technology, high-growth businesses, public and private markets.
- Notable Investments: Airbnb, DoorDash, Snowflake.
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology and life sciences companies. They have a history of backing innovative startups and helping them scale.
- Investment Focus Areas: Technology, life sciences, early-stage startups.
- Notable Investments: Dropbox, Robinhood, Slack.
- Advent International
- Details: Advent International is one of the largest and most experienced global private equity firms. They focus on buyouts and growth equity investments across various sectors.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Lululemon, Olaplex, Walmart Brazil.
- BMW i Ventures
- Details: BMW i Ventures is the venture capital arm of BMW Group. They invest in innovative and high-growth companies in the automotive and mobility sectors.
- Investment Focus Areas: Automotive, mobility, technology.
- Notable Investments: ChargePoint, RideCell, Xometry.
- Storm Ventures
- Details: Storm Ventures is a venture capital firm focused on early-stage enterprise investments. They support startups in scaling their operations and achieving market success.
- Investment Focus Areas: Enterprise technology, SaaS, cloud computing.
- Notable Investments: Marketo, MobileIron, Talkdesk.
What's Next for Tekion?
Tekion stands at the cusp of a transformative era in automotive retail, driven by opportunities to enhance efficiency and profitability. With a valuation exceeding $4 billion, the company is poised to expand its product offerings and accelerate implementation timelines. The integration of real-time data access and customizable APIs positions Tekion to revolutionize traditional automotive retail structures, aligning with industry trends towards digital transformation and data-driven decision-making.
Future fundraising opportunities appear promising, given the strong investor confidence demonstrated by the recent $200 million funding round led by Dragoneer Investment Group. This financial backing not only underscores Tekion's market potential but also sets the stage for potential strategic acquisitions to bolster its technology stack and market reach. However, challenges such as ensuring robust security, maintaining rapid innovation, and navigating competition from other tech providers will require careful management as Tekion scales its operations and continues to innovate.
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