Tekion

Investment Highlights

Company Overview

Tekion Corp is a cloud technology company headquartered in Pleasanton, California. It operates in the automotive retail industry, with its Asia-Pacific headquarters located in Bengaluru and a regional center in Chennai. The company also has operations in the UK, Canada, Germany, and France. The company was founded by the former Tesla CIO, Jay Vijayan.

Prior to founding Tekion, Jay served as the Chief Information Officer at Tesla Inc., where he reported directly to Elon Musk, Tesla's CEO.As CIO, Jay and his team managed Tesla's digital and information systems.

In 2016, he left his job to start Tekion, where he currently serves as CEO. The company received its initial funding from investors like Index Ventures, Storm Ventures, Airbus Ventures, BMWi Ventures, Renault-Nissan-Mitsubishi Alliance Ventures, and General Motors.

In October 2020, the company became a unicorn after it raised $150 million in a Series C financing round. This round was led by Advent International, Exor (holding company of Ferrari and the parent company of Stellantis, which owns Citroën, Fiat, Jeep, Maserati, Ram Trucks, Peugeot, Vauxhall), Airbus Ventures, FM Capital, and existing investors.

In October 2021, the company secured $250M in its Series D funding round, with a valuation reaching $3.5B. This funding was led by Alkeon Capital, Durable Capital, and Hyundai Motor Company.

In February 2020, the company rolled out the Automotive Retail Cloud (ARC), a software designed to connect automotive retail operations on a unified cloud platform. In 2022, the company announced the launch of its Customer Relationship Management application on the ARC platform.

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