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HomeTechnologyFormer Tesla CIO founded Tekion raises $200 mn at a valuation of $4 billion
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Former Tesla CIO founded Tekion raises $200 mn at a valuation of $4 billion

Tekion plans to invest the capital for expanding its product offering to dealer partners and original equipment manufacturers.

July 17, 2024 / 07:22 IST
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Tekion Founder and CEO Jay Vijayan

Tekion, an automotive software platform backed by Tesla's former Chief Information Officer Jay Vijayan, announced funding of $200 million in growth equity capital from Dragoneer Investment Group.

This sets Tekion’s valuation above $4 billion, the US-headquartered company said in a press release on July 16.

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Founded in 2016, Tekion delivers a cloud-native platform serving the entire automotive retail ecosystem, and employs about 3,000 people globally. It has partnerships with over 2,000 automotive retailers and over 250 ecosystem technology partners.

Tekion plans to invest the capital for expanding its product offering for dealer partners and original equipment manufacturers (OEMs), accelerate implementation timelines, and deliver customer support.