Tekion Valuation, Funding & Investors
Tekion is valued at $4B as of July 2024.
Last Tekion valuation
$4B
Undisclosed stage · Jul 2024
Last Tekion funding round
$200M
Undisclosed stage · Jul 2024
Cumulative funding Tekion raised
$635M
across 6 funding rounds
Key investors in Tekion
Index Ventures
Airbus Ventures
Advent International
Storm Ventures
Exor Ventures
AME Cloud Ventures
About Tekion
Tekion is a Redwood City-headquartered provider of cloud-native platforms for automotive retail. Its Automotive Retail Cloud unifies dealership operations including sales, service, and finance for over 2,000 U.S. locations. Partnering with Ford, Toyota, and GM, the platform uses AI for inventory management, customer personalization, and seamless OEM-dealer integration.
Founded
2016
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$4B (Jul 2024)
Tekion Valuation
Tekion is currently valued at $4B, based on its undisclosed-stage round in July 2024.
The $200M round was led by Dragoneer.
Tekion's valuation has grown 4.0x from $1B at its Series C in October 2020 to $4B in July 2024, across 3 priced rounds.
Tekion valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2024 | Undisclosed stage | $4B |
| Oct 2021 | Series D | $3.5B |
| Oct 2020 | Series C | $1B |
Tekion Funding History
Tekion has raised a total of $635M across 6 funding rounds.
Tekion's first fundraising round was a $3M seed round in March 2016. The most recent completed round was a $200M undisclosed-stage round in July 2024.
Tekion funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2024 | Undisclosed stage | Dragoneer (lead) | $200M | $4B | Tekion is a cloud-native software platform serving the entire automotive retail ecosystem, founded in 2016 by Guru Sankararaman and Jay Vijayan. The company operates three integrated product lines: Automotive Retail Cloud (ARC) for dealers, Automotive Enterprise Cloud (AEC) for manufacturers and large automotive enterprises, and Automotive Partner Cloud (APC) for technology partners. Tekion's platform provides digital sales management, personalized upsell and cross-sell capabilities, compliance management, customer engagement, and data insights to modernize how car dealers operate. On July 16, 2024, Tekion secured $200 million in growth equity capital from Dragoneer Investment Group, raising the company's valuation above $4 billion. The capital is intended to expand product offerings for dealer partners and OEMs, accelerate implementation timelines, and strengthen customer support services. As of the announcement, Tekion reported 97% year-over-year annual recurring revenue growth in 2023 and had achieved significant market traction with partnerships encompassing over 2,000 automotive retailers, multiple leading OEM brands, and more than 250 ecosystem technology partners. The company had raised $640 million cumulatively and employed approximately 3,000 people globally by the time of the Dragoneer investment. Dragoneer Investment Group, which led this round, is a growth-oriented investment firm managing over $23 billion with a track record of investing in high-quality public and private companies including Airbnb, Alibaba, Atlassian, Datadog, DoorDash, Samsara, Slack, Snowflake, and Spotify. |
| Oct 2021 | Series D | Alkeon Capital (lead); Durable Capital Partners (lead); Index Ventures; Hyundai; Advent International; Holman Growth Ventures | $250M | $3.5B | Tekion Corp., founded in Silicon Valley, develops the Automotive Retail Cloud (ARC), a cloud-native SaaS platform that disrupts legacy Dealer Management Systems by integrating big data, machine learning, and AI to connect OEMs, car dealers, and consumers for seamless automotive retail experiences. The company raised $250 million in its Series D funding round in October 2021, co-led by Alkeon Capital and Durable Capital Partners, with participation from Advent International, Index Ventures, Hyundai Motor Company, Holman/FM Capital, and various US dealer groups. This round valued Tekion at a post-money valuation of $3.5 billion, more than tripling its previous $1 billion valuation from the October 2020 Series C round where it had raised $150 million. Tekion plans to deploy the capital to accelerate global ARC platform rollout to dealers, establish a Customer Experience Center, expand product innovation hubs in Pleasanton, CA, and Austin, TX, enhance 24/7 support via an Automotive Support Center of Excellence in Ohio, and deepen OEM partnerships. At the time, Tekion employed over 1,000 people worldwide and had expanded operations to 39 US states plus its first Canadian dealership, reflecting strong market traction amid industry challenges like the global chip shortage, which boosted demand for its digital solutions. Investors highlighted Tekion's role in modernizing a multi-billion-dollar automotive retail market driven by cloud adoption, connected vehicles, and digital purchasing expectations. The round brought total funding to $435 million, building on prior investments from entities like Alliance Ventures, Exor, and Storm Ventures. CEO Jay Vijayan noted phenomenal market acceptance and positioned the platform to help dealers and OEMs navigate inventory corrections expected in 2022. |
| Oct 2020 | Series C | Advent International (lead); Joe Serra; FM Capital Group; Index Ventures; Airbus Ventures; Exor Ventures | $150M | $1B | Tekion is a cloud-based software-as-a-service company providing a retail operating platform (DMS) called Automotive Retail Cloud for the automotive dealership industry. Founded by former Tesla CIO Jay Vijayan and Guru Sankararaman, the company offers cloud-native technology designed to simplify sales and service operations for both dealership employees and consumers. In October 2020, Tekion announced a Series C financing round of $150 million led by global private equity firm Advent International, with participation from Index Ventures, Exor (the holding company of Fiat Chrysler Automobiles and Ferrari), Airbus Ventures, FM Capital, and automotive industry investors including General Motors, BMW iVentures, and the Nissan-Renault-Mitsubishi Alliance Ventures. The round valued the company at over $1 billion, achieving unicorn status. Prior to this round, Tekion had raised $65 million in equity financing from various venture and strategic investors. At the time of the Series C announcement, Tekion had begun onboarding dealers onto its Automotive Retail Cloud platform and reported that dealers in 28 states were using the platform with integrations across 17 OEM brands. The capital injection was intended to support additional investment in platform development, expand product offerings, scale the company's operations, and accelerate its market penetration in the automotive retail technology sector. |
| Jul 2018 | Series B | BMW i Ventures (lead); Index Ventures; Airbus Ventures; Storm Ventures | $22M | - | Tekion, founded in 2016 and headquartered in San Ramon, CA, develops the Automotive Retail Cloud, an end-to-end cloud-native SaaS platform for automotive retail, including digital Service Experience (dSE) that connects consumers and dealerships from appointment scheduling to payment using AI and machine learning. In July 2018, Tekion raised $22 million in its first Series B round led by BMW i Ventures, with participation from investors including Index Ventures, Storm Ventures, Airbus Ventures, and others, to enhance platform capabilities, expand market reach, sales, and customer support. A follow-on Series B extension in January 2019 raised approximately $30 million from General Motors, Alliance Ventures, BMW i Ventures, and dealer groups at a post-money valuation over $165 million, issuing 22.7 million series B preferred shares at $1.32 per share. Prior to the 2018 round, Tekion had a $3.5 million seed from Storm Ventures and BluePointe Ventures. The company has since raised additional capital, including a $35 million Series B in early 2018 from Index Ventures, Alliance Ventures, Storm Ventures, AME Ventures, Exor, and Airbus Ventures, and later rounds like $150 million Series C in 2020 at $1.1 billion valuation led by Advent International, and $250 million Series D in 2021 at $3.5 billion. BMW i Ventures, BMW's venture arm, invested to support startups in automotive cloud and digital retail, viewing Tekion as key to evolving dealer software. |
| Jan 2017 | Series A | Index Ventures (lead); Airbus Ventures; AME Cloud Ventures; Monta Vista Capital; Exor Ventures | $10M | - | Tekion raised $10 million in its Series A funding round in January 2017, led by Index Ventures, with participation from Airbus Ventures, AME Cloud Ventures, Exor Ventures, and Monta Vista Capital. The capital was intended to scale the cloud-native platform and expand the team to accelerate product development. Tekion develops the Automotive Retail Cloud (ARC), an end-to-end SaaS platform modernizing automotive retail for dealers and manufacturers. This followed a seed round of $3.1 million in March 2016 led by Storm Ventures to build the initial platform and enter the automotive retail technology market. Subsequent rounds included a Series B of $22 million in July 2018 led by BMW i Ventures. |
| Mar 2016 | Seed | Storm Ventures (lead); BluePointe Ventures; Anshu Sharma | $3M | - | - |
Who has invested in Tekion?
17 investors have backed Tekion across its funding rounds, including Index Ventures, Airbus Ventures, Advent International, Storm Ventures, Exor Ventures and AME Cloud Ventures.
Lead investors include Dragoneer, Alkeon Capital, Durable Capital Partners, Advent International, BMW i Ventures and 2 other investors.
Tekion Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 London | 4 | Lead | Jan 2017 | |
| San Francisco, CA | 3 | Participant | Jan 2017 | |
| San Francisco, CA | 2 | Lead | Mar 2016 | |
| Boston, MA | 2 | Lead | Oct 2020 | |
 Amsterdam | 2 | Participant | Jan 2017 | |
| San Francisco, CA | 1 | Lead | Jul 2024 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Joe Serra | Flint, MI | 1 | Participant | Oct 2020 |
| San Francisco, CA | 1 | Participant | Oct 2020 | |
 South Korea | 1 | Participant | Oct 2021 | |
| Washington, DC | 1 | Lead | Oct 2021 | |
| San Francisco, CA | 1 | Participant | Mar 2016 | |
| San Francisco, CA | 1 | Participant | Jan 2017 | |
| San Francisco, CA | 1 | Participant | Jan 2017 | |
This data is available for Pro users. Sign up to see all 17 Tekion investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Tekion
Tekion has acquired 1 company to date.
Last acquisition by Tekion was on July 26th 2023. Tekion acquired Five64 for undisclosed valuation.
Latest Acquisitions by Tekion
| Description | Five64 is a provider of vehicle registration solutions for interstate and state transactions. It calculates fees, prints dealer and buyer forms, generates cover sheets with fee breakdowns, and determines taxable values. The platform streamlines DMV compliance for automotive dealers across the United States. |
| HQ Country | |
| HQ City | Fort Worth, TX |
| Deal Date | 26 Jul 2023 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Tekion acquisitions and their M&A valuation multiples. Start Free Trial | |
Tekion Competitors
Tekion competitors include listed companies like ThunderSoft and Topicus, and private ones like SemiDrive, Applied Intuition, Secondmind and Huimaiche.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Beijing | Private | - | - | $1.9B | - | |
| San Francisco, CA | Private | $415M | - | $15B | 36.1x | |
| Cambridge | Private | - | - | $122M | - | |
| Shenzhen | Private | - | - | $76M | - | |
| China | Publicly listed | $1.2B | $151M | $3.8B | 2.6x | |
| Netherlands | Publicly listed | $1.8B | $393M | $5.4B | 3.0x |
Tekion Public Comps
Tekion is still privately-owned, but its public comps include ThunderSoft, Shenzhen Huaqiang, Topicus, JG Summit Holdings, WeRide, Pateo Connect Tech, KPIT Technologies, Mobility Global, Zwsoft and Aeva.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.2B | $151M | 3.0x | 2.6x | 23.1x | 20.2x | |||
| $3.7B | $161M | 1.2x | - | 28.7x | - | |||
| $1.8B | $393M | 3.4x | 3.0x | 15.3x | 10.6x | |||
| $5.9B | $1.7B | 1.7x | 1.7x | 5.8x | 7.6x | |||
| $102M | ($257M) | 11.4x | 8.3x | (4.5x) | (5.0x) | |||
| $523M | ($143M) | 3.8x | 2.6x | (14.0x) | (27.9x) | |||
| $673M | $128M | 2.3x | 2.2x | 11.8x | 11.3x | |||
| $1.8B | $637M | 4.7x | - | 12.9x | - | |||
This data is available for Pro users. Sign up to see all Tekion competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Tekion
| When was Tekion founded? | Tekion was founded in 2016. |
| Where is Tekion headquartered? | Tekion is headquartered in San Francisco, CA, United States. |
| Is Tekion publicly listed? | No, Tekion is a private, VC-backed company. |
| What is Tekion's valuation? | Tekion was last valued at $4B in its undisclosed-stage round in July 2024. |
| How much funding has Tekion raised? | Tekion has raised $635M across 6 funding rounds. |
| What was Tekion's last funding round? | Tekion's last funding round was a $200M undisclosed-stage round in July 2024, led by Dragoneer. |
| Who are Tekion's investors? | Tekion's investors include Index Ventures, Airbus Ventures, Storm Ventures, Advent International, Exor Ventures, Dragoneer, Joe Serra, FM Capital Group, Hyundai, Durable Capital Partners and 7 others. |
| Which companies are comparable to Tekion? | Companies comparable to Tekion include SemiDrive, Applied Intuition, Secondmind, Huimaiche, ThunderSoft and Topicus. |
| How many companies has Tekion acquired? | Tekion has acquired 1 company, including Five64. |
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