A Detailed Breakdown Of The Recent Tekion Revenue
Tekion Corp is a cloud technology company headquartered in Pleasanton, California. It operates in the automotive retail industry, with its Asia-Pacific headquarters located in Bengaluru and a regional center in Chennai. PLEASANTON, CA - July 16, 2024 - Tekion, innovator ofthe first cloud-native platform serving the entire automotive retail ecosystem, today announced that it has secured $200 million in growth equity capital from Dragoneer Investment Group. The funding announcement follows Tekion’s performance in 2023, with 97% year-over-year annual run rate revenue growth and expanding partnerships in the industry including with over 2,000 automotive retailers, multiple leading-brand OEMs, and over 250 ecosystem technology partners. Tekion, innovator of Automotive Retail Cloud (ARC), the first and fastest cloud-native automotive retail SaaS platform, champions a seamless, comprehensive and consumer-centric approach. Its platform is crafted to respond to the modern needs of Fixed Operations departments. Tekion officials said it has had 97 percent year-over-year annual recurring revenue growth and has partnerships with more than 2,000 automotive retailers, multiple OEMs and more than 250 technology partners. Tekion, the US-headquartered SaaS unicorn with a large technology presence in India, will continue to hire as it aims to maintain its growth rate of over 80% given the demand for its software solutions from the American automotive market. Tekion Corp top competitors are Flipkart and they have annual revenue of $1.2B and 2842 employees. Tekion's revenue now ranges between $100m and $200m, according to co-founder and CEO Vijayan.Dragoneer partner Christian Jensen said: “Tekion has built a market-defining platform with proven scalability in one ofthe largest and most complex industry verticals.
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