Who are Tekion?
So let's kick things off by asking the most obvious and immediate question that you might have. What is Tekion? Tekion is a cloud retail company and one which has managed to modernize the automotive retail industry. By providing cloud software which allows for high efficiency in dealership operations and a seamless customer experience, they have helped to change up the landscape of the automotive retail industry and forever prove that not only can automotive retail be done with cloud software, but it's superior to all other methods which came before it. The company announced that their Series C financial round was $150M, with a valuation that caps out at over $1B. This incredible project's funding is thanks in part to the power of Advent International, a large and considerable private equity investor group that operates on a global scale. They also saw participation from Index Ventures, Airbus Ventures, FM Capital, and their other investors from inside the automotive industry itself in the form of General Motors and BMW iVentures. Jay Vijayan, the CEO of Tekion, had this to say on the matter. "Today's consumers receive outstanding personalized retail experiences from companies like Amazon, Apple, Google, and Disney. Why shouldn't they expect the same in their vehicle acquisition and service needs? We believe Tekion will be the trailblazer for enabling the modernization of the entire consumer journey and providing the best experiences and operational efficiencies, period. It's time to even the playing field for the automotive retail industry."