Tekion raises $250 million from pack of investors
The Hindu
Fresh investments push firm's valuation to $3.5 billion
Bengaluru-based Tekion, developer of a cloud-native automotive SaaS platform-Automotive Retail Cloud, on Tuesday, announced a Series D financing round of $250 million, which pushed the firm's valuation to over $3.5 billion.
The funding round was led by Alkeon Capital and co-led by Durable Capital. Other investors who participated in the round included Hyundai Motor Company and dealer groups from the U.S. Advent International who led Tekion’s Series C and Index Ventures who led Series A were also part of this round, said Tekion in a statement.
Tekion would invest this additional capital towards accelerating its ARC platform rollout to dealers globally, setting up a customer experience centre, expanding product innovation hubs in California and Texas and fund its product innovation expansions activities in India.
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