Funding round
Tekion Series D
Tekion, which works in automotive retail platform development in Pleasanton, raised $250M in a Series D round announced on 5 Oct 2021, led by Alkeon and Durable Capital Partners, at a $3.50B post-money valuation. 25 firms took part. It is Tekion's third venture round on record; the one before was a Series C in Oct 2020.
$250M
Amount raised
$3.50B
Post-money valuation
$3.25B pre-money
25
Investors
2 leads
3.5x
Step-up from the Series C
$1.00B in Oct 2020
7.1%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Tekion at $3.50B after the new money, 3.5 times the $1.00B of its Series C (Oct 2020). The $250M bought investors about 7.1% of the company. It came 12 months after Tekion's Series C. It is 41% of the $603M Tekion has raised in the venture rounds on record. Tekion raised again 33 months later: a Growth round of $200M in Jul 2024, at $4.00B post-money.
Tekion's funding rounds
Tekion has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Alkeon and Durable Capital Partners led the round with 23 other firms.
Lead investors
- Alkeon backs 51 venture-backed companies new investor
- Durable Capital Partners backs 39 venture-backed companies new investor
Also in the round
- backs 18 venture-backed companies new investor
- Advent International backs 36 venture-backed companies new investor
- Hyundai Motor Company new investor
- Index Ventures backs 353 venture-backed companies new investor
- Exor new investor
- backs 46 venture-backed companies new investor
- Holman Growth Ventures new investor
- Altimeter backs 67 venture-backed companies new investor
- Battery Ventures backs 215 venture-backed companies new investor
- Benchmark new investor
- backs 64 venture-backed companies new investor
- backs 9 venture-backed companies new investor
- END Partners new investor
- backs 39 venture-backed companies new investor
- backs 15 venture-backed companies new investor
- backs 23 venture-backed companies new investor
- backs 67 venture-backed companies new investor
- Meritech Capital backs 84 venture-backed companies new investor
- Pelion Venture Partners new investor
- Peterson Ventures new investor
- backs 111 venture-backed companies new investor
- backs 47 venture-backed companies new investor
- Sequoia Capital backs 589 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
237 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 2.5 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Dutchie Tech Companies | 14 Oct 2021 | $350M | $3.75B | D1 Capital Partners |
| Medable Tech Companies | 27 Oct 2021 | $304M | $2.10B | Blackstone and Tiger Global |
| Tech Companies | 28 Oct 2021 | $200M | $1.70B | Koch Disruptive Technologies and BlackRock |
| Tech Companies | 15 Oct 2021 | $200M | not disclosed | Lead Edge Capital |
| Tech Companies | 11 Oct 2021 | $200M | $1.00B | SoftBank Group |
| Tech Companies | 26 Oct 2021 | $115M | $500M | Sofina and Lightrock |
| Tech Companies | 1 Oct 2021 | $100M | not disclosed | not named |
| Tech Companies | 27 Oct 2021 | $45M | not disclosed | Healthworx and Panoramic Ventures |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Tekion raise in its Series D round?
Tekion raised $250M in its Series D round, announced in Oct 2021.
Who led Tekion's Series D round?
Alkeon and Durable Capital Partners led it, with FM Capital, Advent International, Hyundai Motor Company, Index Ventures and Exor and 18 more.
What was Tekion's valuation at the Series D round?
$3.50B post-money ($3.25B pre-money).
How does it compare with other Series D rounds in Tech Companies?
237 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 2.5 times the median.
Did Tekion raise again after this round?
Yes: a Growth round in Jul 2024 of $200M at $4.00B post-money.