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Former Tesla CIO Jay Vijayan founded Tekion raises $200 million in funding

IndianStartupNewsIndianStartupNews ยท 11m ago
Former Tesla CIO Jay Vijayan founded Tekion raises $200 million in funding
Medial

California-based automotive retail platform, Tekion, has secured $200 million in growth equity funding from Dragoneer Investment Group. With this latest round, Tekion's valuation has surpassed $4 billion. The company, founded by former Tesla CIO Jay Vijayan in 2016, offers a cloud-native platform designed to enhance the automotive retail experience. The funding will be used to expand Tekion's product offerings, accelerate implementation timelines, and improve customer support. Tekion has experienced significant growth, reporting a 97% YoY increase in annual recurring revenue in 2023. The company has partnered with over 2,000 automotive retailers and 250 technology partners.

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Atomicwork closes Seed round at $14 Mn

EntrackrEntrackr ยท 9m ago
Atomicwork closes Seed round at $14 Mn
Medial

B2B SaaS startup Atomicwork has raised an additional $3 million in its seed round from Abhinav Dhar, ex-CIO of TransUnion, Prasad Ramakrishnan, CIO and technology leader, Avanish Sahai, former ecosystem leader at Salesforce, ServiceNow, and Google Cloud and Rich Waldron, CEO of Tray. The firmโ€™s existing investors like Storm Ventures, Z47 (formerly Matrix Partners), Blume Ventures, and Neon Fund also participated in the round. This is the second tranche of its seed round. In September last year, Atomicwork had raised $11 million led by Blume Ventures and Matrix Partners India. With this, the total funding for the startup stands at $14 million. The proceeds will be used for enterprise AI agent technology, fuel the firmโ€™s GTM team expansion in the United States over the next three years, the company said in a press release. Founded in September 2022 by Vijay Rayapati, Kiran Darisi, and Parsuram Vijayasankar, Atomicwork provides software that automates workflows under the information and technology (IT), human resources (HR), finance, and other business functions. It helps companies instantly help their employees by collecting tribal knowledge from across the organization โ€“ stored in docs, wikis, information systems, email threads, and chat conversations. Previously, Rayapati had founded Minjar which raised $2 million before getting acquired by US-based publicly-listed cloud infrastructure company Nutanix for about $50 million. Blume also invested in Minjarโ€™s initial funding round. Darisi and Vijayasankar were part of the founding team of SaaS unicorn Freshworks.

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