Tekion, innovator of the Automotive Retail Cloud™ (ARC), the first and fastest end-to-end cloud-native automotive SaaS platform, today announced a Series D financing round of $250 million, driving Tekion's valuation to $3.5 billion.

The funding round was led by Alkeon Capital and co-led by Durable Capital. Other investors include Hyundai Motor Company and several reputable dealer groups across the United States. Advent International, who led Tekion's Series C, Index Ventures who led its Series A, and FM Capital also reinvested in this round, showing strong support for the positive disruption Tekion is bringing to the automotive industry and, as a result, rapidly growing business.

Disrupting a 50-year reliance on aging Dealer Management System platforms, Tekion has challenged the paradigm with the first and fastest cloud-native automotive retail platform, Automotive Retail Cloud (ARC). This transformative dealership software platform uses cutting-edge technology, big data, machine learning, and AI to seamlessly bring together OEMs, retailers/dealers and consumers. With its highly configurable integration and greater customer engagement capabilities, ARC is simplifying the dealer/consumer relationship and journey.