Cloud-Native Retail Platform Tekion Raises $150 Million Series C
Airbus Ventures Envisions New Pathways for Global Growth Expansion
MENLO PARK, Calif.–(BUSINESS WIRE)–#Aerospace–Airbus Ventures is proud to announce a key advance in its continuing partnership with Tekion – the first and fastest cloud-native automotive retail platform. Just last week, Tekion, founded by former Tesla Inc. Chief Information Officer Jay Vijayan, reported completion of its $150 million Series C financing round with an over $1 billion valuation. Participants included Advent International, as well as Airbus Ventures, Index Ventures, FM Capital, and Exor, providing fresh capital for significantly scaling the company. Tekion’s key investors have also included General Motors, BMW iVentures, and Nissan-Renault-Mitsubishi Alliance Ventures.
“Tekion is trailblazing the modern consumer’s journey, and the experience of buying, selling, and servicing across the automotive industry. However, we’ve really only begun to crack the surface of what is possible,” Tekion CEO Jay Vijayan explains. “With partners like Airbus Ventures, teaming to push industry limits, we are confident we will be the first to execute our revolutionary vision and build a truly global brand.”
In addition to advanced analytics, Tekion gives dealers access to their data to glean valuable insights and provides enterprise scale capability for larger dealer groups. Growing rapidly nationwide, Tekion already counts some of the country’s most influential automotive dealer groups as its partners in 28 states. The retail cloud integrates with 17 OEM brands, and the company is targeting to complete the remaining OEM integrations in early 2021.
“Tekion’s modern technology stack, rapidly evolving as an automotive industry mainstay, has no limits,” notes Thomas d’Halluin, Managing Partner, Airbus Ventures. “As Tekion envisions touchdowns on new industries, Airbus Ventures is committed to paving new avenues for the company to thrive worldwide. Their immense success thus far is just the beginning.”
Tekion’s Series C announcement comes just weeks after Airbus Ventures’ announcing the launch of Airbus Ventures Fund III LP. With investors Development Bank of Japan, Mitsubishi UFJ Lease & Finance Co., and Fuyo General Lease Co., Airbus Ventures’ new Fund signifies a bloom of new synergies, entrepreneurial advances, and collaborations with venture pioneers in Japan and spanning the world, a further flourishing of opportunities for Tekion and its accelerating global expansion.
Founded in 2016, Tekion provides the world’s best business applications on the cloud and is currently focused on transforming the automotive industry. Its cloud-native platform brings the entire consumer, Dealer and OEM ecosystem together by seamlessly connecting every part of the automotive retail journey through its comprehensive Automotive Retail Cloud. Tekion inherently uses cutting-edge technologies to bring modern consumer experiences to life including IoT and ML/AI. Born in California’s Silicon Valley, Tekion employs over 450 innovators globally. For more information, visit: https://www.tekion.com.
About Airbus Ventures
Headquartered in Silicon Valley, with offices in Toulouse and Tokyo, Airbus Ventures is a fast-moving, early-stage venture capital company that independently funds and supports startups impacting the aerospace industry. Airbus Ventures has helped inspiring innovators reach new dimensions of achievement since 2015. To learn more, visit: https://airbusventures.vc.
Partner, Asia Pacific