Tekion Raises $350 Million at $3.5 Billion Valuation for Business Software Industry

Tekion is a cloud-based technology company that focuses on the automotive retail sector. The flagship Tekion product is the Automotive Retail Cloud platform. Tekion builds up applications for running a complex business in a simple way.

The recent investment round was led by Alkeon Capital and Durable Capital. Hyundai Motor Co., several dealer groups, Advent Capital, and Index Ventures also participated in the round. In comparison with the last round, Tekion was managed to triple its valuation.

Tekion was founded in 2016 by Jay Vijayan, former Tesla CIO. The company headquarter is in Silicon Valley, as well as it has offices in Bengaluru and Chennai. Last October Tekion got the unicorn status. With the help of this platform, more than 1 million vehicles were served, and more than 170 000 were sold. Tekion’s partners include Bentley, Audi, Ford, Cadillac, and many others. “We have experienced phenomenal market acceptance during the past year. This strong round of funding validates industry and investors’ belief in Tekion’s disruption,” said Jay Vijayan

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