Funding round
Tekion Growth
Reported as "Growth Equity"
Tekion, which works in automotive retail platform development in Pleasanton, raised $200M in a Growth round announced on 16 Jul 2024, at a $4.00B post-money valuation. 1 firm took part. It is Tekion's fourth venture round on record; the one before was a Series D in Oct 2021.
$200M
Amount raised
$4.00B
Post-money valuation
1
Investors
no lead named
1.1x
Step-up from the Series D
$3.50B in Oct 2021
5.0%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Tekion at $4.00B after the new money, 1.1 times the $3.50B of its Series D (Oct 2021). The $200M bought investors about 5.0% of the company. It came 33 months after Tekion's Series D. It is 33% of the $603M Tekion has raised in the venture rounds on record. No later venture round is on record for Tekion.
Tekion's funding rounds
Tekion has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
1 firm took part; no lead investor was named.
Investors
- Dragoneer Investment Group backs 82 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
376 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $48M, and this round was 4.2 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| team.blue Tech Companies | 10 Jul 2024 | $5.20B | not disclosed | CPP Investments |
| Tech Companies | 9 Jul 2024 | $350M | $5.10B | not named |
| Tech Companies | 25 Jul 2024 | $140M | not disclosed | Savant Growth and VantagePoint Capital Partners |
| Tech Companies | 17 Jul 2024 | $80M | not disclosed | PSG |
| Tech Companies | 15 Jul 2024 | $70M | not disclosed | Riverwood Capital |
| Tech Companies | 16 Jul 2024 | $60M | not disclosed | Vistara Growth |
| Tech Companies | 25 Jul 2024 | $48M | not disclosed | Integrity Growth Partners |
| Armada Tech Companies | 11 Jul 2024 | $40M | not disclosed | M12 |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Tekion raise in its Growth round?
Tekion raised $200M in its Growth round, announced in Jul 2024.
Which investors took part in Tekion's Growth round?
Dragoneer Investment Group.
What was Tekion's valuation at the Growth round?
$4.00B post-money.
How does it compare with other Growth rounds in Tech Companies?
376 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $48M, and this round was 4.2 times the median.