Tekion secures $200 million from Dragoneer Investment Group to expand product offering for dealer partners and OEMs

Jul 16, 2024•over 1 year ago

Amount Raised

$200 Million

PleasantonSoftware

Investors

Dragoneer Investment Group

Description

Tekion announced securing $200 million in growth equity capital from Dragoneer Investment Group, setting its valuation above $4 billion. The funding will be used to expand product offering for dealer partners and OEMs, accelerate implementation timelines, and deliver world-class customer support.

Company Information

Company

Tekion

Location

Pleasanton, California, United States

About

Positively disrupting an industry that has not seen disruption in over 50 years, Tekion has challenged the paradigm with the first and fastest cloud-native automotive platform that includes the revolutionary Automotive Retail Cloud (ARC) for retailers, Automotive Enterprise Cloud (AEC) for manufacturers and other large automotive enterprises, and Automotive Partner Cloud (APC) for technology and industry partners. Tekion connects the entire spectrum of the automotive retail ecosystem through one seamless platform. The transformative platform uses cutting-edge technology, big data, machine learning, and AI to seamlessly bring together OEMs, retailers/dealers, and consumers. With its highly configurable integration and greater customer engagement capabilities, Tekion is enabling the best automotive retail experiences ever.

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Funding Insights

Based on industry data

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VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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