Tekion, a Pleasanton, CA-based provider of a cloud-native platform serving the entire automotive retail ecosystem, raised $200M in Growth capital.
Dragoneer Investment Group made the investment.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO and Founder Jay Vijayan, Tekion provides a cloud-native automotive platform that includes the 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. It connects the entire spectrum of the automotive retail ecosystem through a single platform by using technology, big data, machine learning, and AI to bring together OEMs, retailers/dealers, and consumers.
Commenting on the news, Jay Vijayan said: “We are delighted to partner with Dragoneer, whose team has followed our progress closely for multiple years, believes in our long-term vision, and carries an impressive track record investing in best-in-class vertical SaaS businesses.”
FinSMEs
16/07/2024