Tekion, innovator of the 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. This financing round sets Tekion's valuation above $4 billion. Tekion plans to invest the capital to expand its product offering for dealer partners and OEMs, accelerate implementation timelines, and deliver world-class customer support as it continues to redefine automotive retail for dealers and consumers in a rapidly digitizing ecosystem.

Positively disrupting an industry that has not seen disruption in over 50 years, Tekion has challenged the paradigm with the first and fastest cloud-native automotive platform that includes the revolutionary Automotive Retail Cloud (ARC) for retailers, Automotive Enterprise Cloud (AEC) for manufacturers and other large automotive enterprises, and Automotive Partner Cloud (APC) for technology and industry partners. Tekion connects the entire spectrum of the automotive retail ecosystem through one seamless platform. The transformative platform uses cutting-edge technology, big data, machine learning, and AI to seamlessly bring together OEMs, retailers/dealers, and consumers.