Tekion Corp
 | |
| Type | Private |
|---|---|
| Industry | SaaS, Automotive Retail |
| Founded | 2016 |
| Founder | Jay Vijayan Guru Sankararaman |
| Headquarters | Pleasanton, California, USA |
Area served | North America, Europe, India |
Key people | Jay Vijayan, CEO Guru Sankararaman, COO |
| Revenue |  US$100 million (2023) |
Number of employees | 2,500+ |
| Website | tekion |
Tekion Corp is a U.S.-based automotive retail technology company that uses artificial intelligence in its platform.[1][2][3] The company is headquartered in Pleasanton, California, with its Asia-Pacific headquarters in Bengaluru, a regional center in Chennai,[4] and operations in Canada and the United Kingdom.[5] The company was founded by former Tesla, Inc. executive Jay Vijayan.[6][7]
History
[edit]Prior to founding Tekion, Jay served as the chief information officer (CIO) at Tesla Inc., where he reported directly to Elon Musk, Tesla's CEO.[8] As CIO, Jay and his team managed Tesla's digital and information systems.[2]
In 2016, he left Tesla to start Tekion, of which he serves as CEO.[9] Initially bootstrapped,[10] the company received funding from such investors as Index Ventures, Storm Ventures, Airbus Ventures, BMWi Ventures, Renault-Nissan-Mitsubishi Alliance Ventures, and General Motors.[6]
In October 2020, the company became a unicorn after it raised US$150 million in a Series C financing round.[11] This round was led by Advent International, Exor (holding company of Ferrari and the parent company of Stellantis, which owns Citroën, Fiat, Jeep, Maserati, Ram Trucks, Peugeot, Vauxhall), Airbus Ventures, FM Capital, and existing investors.[12]
In October 2021, the company secured $250 million in its Series D funding round, with a valuation reaching $3.5 billion.[13] This funding was led by Alkeon Capital, Durable Capital, and Hyundai Motor Company.[14]
In July 2023, the company acquired vehicle registration technology company Five64.[15]
The company's valuation was reported to exceed $4 billion following a $200 million investment from Dragoneer Investment Group, based in San Francisco, in July 2024. Since its founding, the company has raised a total of $640 million.[16]
By 2026, Tekion's software platforms were deployed at more than 3,000 automotive dealership locations across North America and the United Kingdom.[17]
Products
[edit]In February 2020, the company launched its Automotive Retail Cloud (ARC) software, which helps connect automotive retail operations through a unified cloud platform.[18] The platform later incorporated 52 automotive brands, including General Motors, Ford, Jeep, Honda, Hyundai, and Toyota.[19] In 2022, the company added a CRM application to the ARC platform.[20] In January 2024, Tekion entered into an agreement with Asbury Automotive Group, a publicly listed car dealership based in the US.[21][22] In 2025, Ken Garff Automotive Group and Hartwell Automotive Group adopted Tekion's automotive retail platform across their dealership networks, with Hartwell deploying the platform across its 11 dealership locations in the United Kingdom.[23][24] The company also developed a digital tool for Acura[25] and a digital retail tool for electric vehicles for General Motors, which operate on the Automotive Enterprise Cloud (AEC) platform.[26]
In 2024, Tekion announced a restructuring to transition its software platform from a cloud-based Software as a Service (SaaS) model to an artificial intelligence-focused architecture. As part of the transition, the company appointed Binu Mathew as chief technology officer.[27]
Awards and recognition
[edit]In 2025, Tekion was included in Fast Company's Best Workplaces for Innovators list.[28] The same year, the company was included in Deloitte's Technology Fast 500, an annual ranking of North America's fastest-growing technology companies.[29]
References
[edit]- ↑ Friedlander, Andy (2026-05-01). "Tekion adds another new partner with integration of DAS Technology's customer experience platform". Auto Remarketing. Retrieved 2026-07-11.
- 1 2 Balachandran, Manu. "How Jay Vijayan—a Politician's Son, Geology Grad And Former Tesla Techie—built The World's Newest Unicorn". Forbes India.
- ↑ Sil, Debarghya (2023-08-02). "Exclusive: Ex Tesla Exec's Tekion Lays Off 10% Workforce, 200 Indian Employees Impacted". Inc42 Media. Retrieved 2024-01-25.
- ↑ Anand, N. (2022-04-19). "Tekion expands global footprint, sets up technical centre in Chennai". The Hindu. ISSN 0971-751X. Retrieved 2024-01-25.
- ↑ "Former Tesla CIO founded Tekion to hire 400 people in India". The Hindu. 2022-08-01. ISSN 0971-751X. Retrieved 2024-01-25.
- 1 2 Rogers, Bruce. "Ex Tesla CIO Jay Vijayan Builds Tekion To Improve Car Buying Experience". Forbes. Retrieved 2024-01-25.
- ↑ Loizos, Connie (2021-10-05). "Tekion, the automotive retail platform headed by a former Tesla CIO, just tripled in value". TechCrunch.
- ↑ King, Rachael (April 4, 2016). "Tesla Motors CIO Leaves to Launch Stealth Startup". The Wall Street Journal.
- ↑ "We are Salesforce but 20 years in the future: Tekion CEO Jay Vijayan". Moneycontrol. 2020-10-27. Retrieved 2024-01-25.
- ↑ "Former Tesla CIO founded Tekion to hire 400 people in India". The Hindu. 2022-08-01. ISSN 0971-751X. Retrieved 2026-07-21.
- ↑ Mathur, Nandita (2020-10-21). "Tekion joins the unicorn club". mint.
- ↑ Giles, Martin. "Former Tesla CIO's Software Startup Tekion Valued At Over $1 Billion In New Fundraise". Forbes.
- ↑ "Which automaker announced IPO plans? How much is Tekion actually worth?". CBT News. 2021-10-08. Retrieved 2024-01-25.
- ↑ Tan, Gillian (October 5, 2021). "Tekion Valued at $3.5 Billion as Durable, Alkeon, Hyundai Invest". www.bloomberg.com.
- ↑ HOLLMER, MARK (July 27, 2023). "Tekion buys vehicle registration technology company Five64". Automotive News.
- ↑ "Tekion Corp raises $200 million in funding at valuation of over $4 billion". The Economic Times. 2024-07-16. ISSN 0013-0389.
- ↑ Walker, Kellen (February 19, 2026). "Tekion CEO Jay Vijayan on AI security; Auto execs anxious about job security". www.autonews.com. Retrieved 2026-07-21.
- ↑ "Tekion launches Automotive Retail Cloud to disrupt automotive industry". Dataquest. 2020-02-13.
- ↑ "Will be profitable by 2025, a higher priority than IPO: Tekion CEO Jay Vijayan". Moneycontrol. September 20, 2024.
- ↑ VANHULLE, LINDSAY (April 11, 2022). "Tekion rolls out CRM and digital retail capabilities". Automotive News.
- ↑ "Tekion Tapped by Asbury Automotive Group". www.autodealertodaymagazine.com. Retrieved 2024-11-30.
- ↑ "Asbury 4-store Tekion DMS pilot could precede companywide switch by 2026". www.autonews.com. Retrieved 2024-11-30.
- ↑ Hollmer, Mark (January 14, 2025). "Tekion, Ken Garff forge new DMS partnership". www.autonews.com. Retrieved 2026-07-21.
- ↑ Robertson, Dylan (2025-09-18). "Hartwell adopts digital solution from Tekion". Motor Trade News. Retrieved 2026-07-21.
- ↑ Johnson, Peter (September 23, 2024). "Can Acura's new sales tool help it compete in the US EV market?". electrek.
- ↑ Lutz, Hannah (March 4, 2021). "GM to launch EV digital retail tool powered by Tekion". www.autonews.com. Retrieved 2024-11-30.
- ↑ Hollmer, Mark (June 7, 2024). "Tekion hires new technology chief to lead AI expansion". www.autonews.com. Retrieved 2026-07-21.
- ↑ McGowan, Edward. "Best Workplaces for Innovators 2025". Fast Company. Retrieved 2026-07-21.
- ↑ Friedlander, Andy (2025-12-08). "Automotive's representation on Technology Fast 500 list suggests shift toward tech, AI". Auto Remarketing. Retrieved 2026-07-21.