Funding round
Tekion Series C
Tekion, which works in automotive retail platform development in Pleasanton, raised $150M in a Series C round announced on 21 Oct 2020, led by Advent International, at a $1.00B post-money valuation. 8 firms took part. It is Tekion's second venture round on record; the one before was a Seed in Mar 2016.
$150M
Amount raised
$1.00B
Post-money valuation
$850M pre-money
8
Investors
1 lead
15%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Tekion at $1.00B after the new money. The $150M bought investors about 15% of the company. It came 55 months after Tekion's Seed. It is 25% of the $603M Tekion has raised in the venture rounds on record. Tekion raised again 12 months later: a Series D round of $250M in Oct 2021, at $3.50B post-money.
Tekion's funding rounds
Tekion has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Advent International led the round with 7 other firms.
Lead investor
- Advent International backs 36 venture-backed companies new investor
Also in the round
- Index Ventures backs 353 venture-backed companies new investor
- Exor new investor
- backs 46 venture-backed companies new investor
- backs 18 venture-backed companies new investor
- backs 22 venture-backed companies new investor
- backs 50 venture-backed companies new investor
- Nissan-Renault-Mitsubishi Alliance Ventures new investor
Joined the board: Jon McNeill (Advent International) and Eric Wei (Advent International).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion and scaling operations.
- Product development
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
406 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 3.0 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 6 Oct 2020 | $207M | $2.00B | BlackRock |
| Bird Tech Companies | 8 Oct 2020 | $200M | $3.00B | Spark Capital |
| Applied Intuition Tech Companies | 22 Oct 2020 | $125M | $1.25B | Lux Capital and Andreessen Horowitz |
| Tech Companies | 27 Oct 2020 | $120M | not disclosed | SoftBank Vision Fund |
| Tech Companies | 12 Oct 2020 | $60M | not disclosed | Y Combinator |
| Tech Companies | 26 Oct 2020 | $30M | not disclosed | OurCrowd and Salesforce Ventures |
| Tiendanube Tech Companies | 13 Oct 2020 | $30M | not disclosed | Kaszek and Qualcomm Ventures |
| Tech Companies | 21 Oct 2020 | $15M | not disclosed | Tencent |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Tekion raise in its Series C round?
Tekion raised $150M in its Series C round, announced in Oct 2020.
Who led Tekion's Series C round?
Advent International led it, with Index Ventures, Exor, Airbus Ventures, FM Capital and GM Ventures and 2 more.
What was Tekion's valuation at the Series C round?
$1.00B post-money ($850M pre-money).
How does it compare with other Series C rounds in Tech Companies?
406 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 3.0 times the median.
Did Tekion raise again after this round?
Yes: a Series D round in Oct 2021 of $250M at $3.50B post-money.