Search company, investor...
Tekion company logo

Tekion

tekion.com

Founded Year

2016

Stage

Series D | Alive

Total Raised

$400M

Valuation

$0000 

Last Raised

$250M | 1 yr ago

About Tekion

Tekion provides a cloud platform that offers automotive retail technology. Tekion services car dealerships across the United States.

Headquarters Location

5934 Gibraltar Drive

Pleasanton, California, 94588,

United States

833-835-4662

Missing: Tekion's Product Demo & Case Studies

Promote your product offering to tech buyers.

Reach 1000s of buyers who use CB Insights to identify vendors, demo products, and make purchasing decisions.

Missing: Tekion's Product & Differentiators

Don’t let your products get skipped. Buyers use our vendor rankings to shortlist companies and drive requests for proposals (RFPs).

Research containing Tekion

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Tekion in 1 CB Insights research brief, most recently on Oct 8, 2021.

Expert Collections containing Tekion

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Tekion is included in 3 Expert Collections, including Store management tech (In-store retail tech).

S

Store management tech (In-store retail tech)

1,522 items

Startups aiming to work with retailers to improve brick-and-mortar retail store operations.

U

Unicorns- Billion Dollar Startups

1,201 items

A

Auto Commerce

539 items

Companies involved in the rental, selling, trading, or purchasing of cars, RVs, trucks, and fleets, including auto financing companies, vehicle auction services, online classified advertising companies with a focus on auto, and dealership software platforms.

Tekion Patents

Tekion has filed 1 patent.

The 3 most popular patent topics include:

  • Data management
  • Machine learning
  • Wireless networking
patents chart

Application Date

Grant Date

Title

Related Topics

Status

12/11/2020

11/15/2022

Grant

Application Date

12/11/2020

Grant Date

11/15/2022

Title

Related Topics

Status

Grant

Latest Tekion News

Tesla former CIO's auto tech startup Tekion targets $1 billion ARR by 2027

Nov 17, 2022

Tesla former CIO's auto tech startup Tekion targets $1 billion ARR by 2027 SECTIONS By Rate Story Synopsis ETtech US-based automotive technology platform Tekion , founded by former Tesla top executive Jay Vijayan , hopes to surpass $1 billion in revenue by 2027 and grow faster than its current clip of 150% as American vehicle brands and dealers look to unify the purchase experience and build efficiencies amid a looming recession. Vijayan's six-year-old startup, which sells software in the automotive space, entered the unicorn club – or privately held companies with a valuation of $1 billion or more - in October 2020 following a $150 million funding round from a clutch of venture capitalists. It reached a valuation of $3.5 billion in its latest round in October 2021, in which Alkeon Capital, carmaker Hyundai, and a raft of American car dealerships participated. Car manufacturers, retailers, and automotive partners like financiers and insurance retailers buy Tekion’s Software as a Service (SaaS) products. So far, dealers have sold over 440,000 cars via Tekion’s technology platform. “We have been growing our business at a rate of 2.5x (150%) year-on-year and have set a target of $1 billion in revenue by 2027," Vijayan , the chief executive of Tekion, told ET. Discover the stories of your interest The company aims to be the top player in North America, he said, talking about a market with a “known addressable market size” of $30 billion. Vijayan said Tekion was 'manifesting its own lane' in a way - the platform offers software for car brands, retailers and partners in an end-to-end fashion that its scope is just getting discovered, meaning the addressable market should be much bigger for Tekion. As of now, it has kept its focus on North America (US + Canada), UK and France, and hopes to expand to other European markets soon. Tekion's customer mix is split 65:35 between automotive retailers and enterprise customers (Original Equipment Manufacturers and other large business groups), with a "high level of stickiness" to the platform. For SaaS platforms, customer churn has been a niggling concern as buyers jump from one provider to another for varied reasons, but Tekion bucks that trend because of high dependability, particularly on key operational aspects such as the buying experience, Vijayan said. Tekion’s India teams in Bengaluru and Chennai account for 1,600 of its 2,000-plus total headcount, with plans under way to hire 400 people through this year and 2023. As the US slips into a recession, Vijayan is predicting the economy to turn around 12-24 months from now, with the likelihood of more pain across markets and economy - and the repercussions across corporates in terms of spending and jobs cuts - growing deeper before they plateau out. The hammering received by Nasdaq indices - reflective of the tech sector – as opposed to others such as the S&P index means technology stocks have already borne the brunt of the slowdown, meaning their market recovery would be ahead of other segments. Vijayan has had stints at American tech majors Oracle and VMware before Tesla, where he led crucial roles in application development and similar areas. He described working with serial entrepreneur and Tesla Inc co-founder Elon Musk as an “intense experience” with a tough first year as he got acclimatized to the mandate, management style, and the “lofty goals” set by Musk. Vijayan, as chief information officer, executed a series of interventions that built Tesla's digital and information systems, including the famed over-the-air software updates for Tesla cars. He said Musk adopts a “hands-off” approach after establishment of trust, and that the current furore over the way he manages Twitter could be because critics have decided to go after his management style with a “magnifying glass”. Wednesday, 16 Nov, 2022 The government will allow transfer of data and its storage in “trusted geographies” in the revised draft of the data protection Bill, doing away with the data localisation requirement proposed in the earlier version, people privy to the matter told ET. The government will define which geographies are “trusted” from time to time. Read More News on

Tekion Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Tekion Rank

Tekion Frequently Asked Questions (FAQ)

  • When was Tekion founded?

    Tekion was founded in 2016.

  • Where is Tekion's headquarters?

    Tekion's headquarters is located at 5934 Gibraltar Drive, Pleasanton.

  • What is Tekion's latest funding round?

    Tekion's latest funding round is Series D.

  • How much did Tekion raise?

    Tekion raised a total of $400M.

  • Who are the investors of Tekion?

    Investors of Tekion include Index Ventures, Advent International, Hyundai Motor Company, Alkeon Capital Management, Durable Capital Partners and 11 more.

  • Who are Tekion's competitors?

    Competitors of Tekion include CDK Global and 3 more.

Compare Tekion to Competitors

R
Reynolds and Reynolds

Reynolds and Reynolds is a dealer management system manufacturer that develops and supports software solutions for automotive retailers and manufacturers to manage all their business operations. The company offers I.T. services, web technologies, and retail management system. It is based in Birmingham, England.

DealerCenter Logo
DealerCenter

DealerCenter is a car dealership management software system for independent auto dealers. It provides inventory management, payment processing, and customer management features.

CDK Global Logo
CDK Global

CDK Global is a provider of retail technology and software as a service (SaaS) solutions that help dealers and auto manufacturers run their businesses more efficiently, drive improved profitability, and create frictionless purchasing and ownership experiences for consumers. It provides integrated technology solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment dealers throughout North America, Europe, the Middle East, Africa, Asia Pacific, and South America. CDK Global was founded in 2014 and is based in Hoffman Estates, Illinois. In July 2022, CDK Global was acquired by Brookfield Business Partners at a valuation of $8300M.

Auto/Mate Dealership Systems Logo
Auto/Mate Dealership Systems

Auto/Mate Dealership Systems is a provider of dealership management system software to retail automotive dealerships.On January 6th, 2020, Auto/Mate was acquired by DealerSocket, terms of the agreement were not disclosed.

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.