Tekion raises $250mn in Series D funding round; valuation nearly triples

The round was led by Alkeon Capital and co-led by Durable Capital. Other investors include Hyundai Motor and several reputable dealer groups across the US

Tekion, a cloud technology company focused on the automotive sector, raised $250 million in Series D financing round, driving Tekion’s valuation to over $3.5 billion. The company has almost tripled its valuation when compared to its last funding raised last year.

The funding round was led by Alkeon Capital and co-led by Durable Capital. Other investors include Hyundai Motor Company and several reputable dealer groups across the United States. Advent International who led Tekion’s Series C and Index Ventures who led Series A also reinvested in this round.

Silicon Valley-based Tekion, founded by Jay Vijayan and that has its APAC headquarters in