Dragoneer Investment Group Investing up to $200M in Tekion

Gunderson Dettmer represented client Dragoneer Investment Group in its up to $200 million growth equity financing of Tekion, a cloud-native platform serving the automotive retail ecosystem. Tekion’s platform offers digital sales management, personalized upsell and cross-sell opportunities, compliance management, customer engagement and data insights, enabling car dealers to seek a better way to do business. Tekion will use the capital to expand its product offering for dealer partners and OEMs, accelerate implementation timelines and deliver world-class customer support.

In the announcement of the transaction, Dragoneer Partner Christian Jensen said, “Having watched Tekion’s rapid pace of innovation and market adoption over the past several years, we are proud to partner with and support Jay and his world-class team in the next phase of the company’s growth journey. Tekion has built a market-defining platform with proven scalability in one of the largest and most complex industry verticals. We see incredible opportunity ahead as automotive customers increasingly seek frictionless, digital-first experiences and automotive retailers seek competitive advantages, business efficiencies, and deep insights from powerful new technologies. Dragoneer selectively looks to be the partner of choice to the highest quality businesses and we’re proud to back Tekion as it builds the next generation of automotive retail technology.”

The Gunderson Dettmer deal team was led by Jeff Stricker and Ryan Purcell and included Adan Muller, Rosie Stein, Jeff Salomon, Ally Kaleita, Emily Miller, Erica Davis and Christina Chen.

Companies
Dragoneer Investment Group
Tekion