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Tekion Corp raises $200 million in funding at valuation of over $4 billion

Economic Times

Economic Times · 1y ago

Tekion Corp raises $200 million in funding at valuation of over $4 billion

California-based automotive retail technology provider, Tekion Corp, has secured $200 million in funding from Dragoneer Investment Group. The investment puts the company's valuation at over $4 billion. Tekion plans to use the funds for product expansion, accelerating development, and improving customer service. It currently partners with over 2,000 automotive retailers and 250 ecosystem technology partners. The company, founded by former Tesla executive Jay Vijayan, has raised a total of $640 million to date from investors including General Motors and BMW I Ventures.

Related News

ShareChat lays off about 200 employees across verticals

Economic Times

Economic Times · 1y ago

ShareChat lays off about 200 employees across verticals

Social media platform ShareChat has laid off around 200 employees, constituting 15% of its workforce, as part of a restructuring effort to cut costs and achieve profitability in the next 4-6 quarters. Backed by Google and Temasek Holdings, ShareChat is also reportedly seeking $50 million in new funding at a valuation below $1.5 billion. This move has primarily impacted roles in the company's product functions.

Grapevine: Oyo, Samara-backed Marengo eye funding; Table Space weighs IPO

VCCircle

VCCircle · 10m ago

Grapevine: Oyo, Samara-backed Marengo eye funding; Table Space weighs IPO

Oyo's parent company, Oravel Stays, is in talks to secure $200 million in funding at a valuation of $4.5-5 billion. Marengo, a startup backed by Samara Capital, is also seeking funding, while Table Space is considering an IPO.

Ramp hits $22.5B valuation just 45 days after reaching $16B | TechCrunch

TechCrunch · 1m ago

Ramp hits $22.5B valuation just 45 days after reaching $16B | TechCrunch

Ramp, an expense management startup, raised $500 million at a $22.5 billion valuation, just 45 days after a previous $200 million round at a $16 billion valuation. Led by Iconiq Growth with Founders Fund and D1 Capital Partners, this funding supports Ramp's vision for AI-driven "autonomous finance." Ramp, which became cash-flow positive earlier this year, has raised a total of $1.9 billion and boasts 40,000 customers, with annualized revenue of $700 million as of March.

Cybersecurity startup Axonius raises $200 million from returning investors

Economic Times

Economic Times · 1y ago

Cybersecurity startup Axonius raises $200 million from returning investors

Axonius, a cybersecurity infrastructure management startup, has raised $200 million in funding at a $2.6 billion valuation. The New York-based company offers software to help IT and security teams manage their IT environments, devices, users, software, and cloud services, in order to mitigate threats and security risks. The funding round was co-led by Accel and Lightspeed Venture Partners, with participation from Stripes. Axonius plans to use the funds to fuel its growth through acquisitions and expand its cybersecurity platform. The company has achieved over $100 million in annual recurring revenue and counts major enterprises and US government agencies among its customers.

Cred in talks to raise new funds as valuation slips by over 30% to $4 billion : sources

Economic Times

Economic Times · 4m ago

Cred in talks to raise new funds as valuation slips by over 30% to $4 billion : sources

Cred, a credit card payment platform, is in talks to raise $100-200 million from existing investors, led by Singapore's GIC. The startup's valuation is expected to be around $4 billion, down from $6.4 billion three years ago. The funding aims to support improved financial performance and reduced cash burn. As Cred plans an IPO in two years, it has focused on cost-cutting and profitability, amidst a general valuation reset in the tech sector.

Healthtech Unicorn Innovaccer In Talks To Raise $250 Mn From Kaiser Permanente

Inc42 · 1y ago

Healthtech Unicorn Innovaccer In Talks To Raise $250 Mn From Kaiser Permanente

Healthtech unicorn Innovaccer is reportedly in talks with US-based health and insurance major Kaiser Permanente to raise a funding round of $200 million to $250 million. Innovaccer last raised $150 million in December 2021 at a valuation of $3.2 billion. If the latest funding talks materialize, the valuation could be lower, ranging between $2.5 billion and $3 billion. The fresh capital will be raised through a mix of primary and secondary funding. Innovaccer, founded in 2014, provides healthcare data analysis to healthcare providers, hospitals, insurance companies, and other organizations.

HSBC estimates B2B ecommerce unicorn Elastic Run valuation at $800 million

Economic Times

Economic Times · 1y ago

HSBC estimates B2B ecommerce unicorn Elastic Run valuation at $800 million

HSBC has revised its valuation estimate for several Indian startups, including B2B ecommerce platform Elastic Run, lowering it to $800 million from $1.5 billion. The valuation estimate for etailer Meesho was also reduced by 14% to $2.5 billion, while agritech firm Dehaat's valuation was lowered by 11% to $400 million. However, Meesho is in the midst of a $600 million funding round, which is expected to finalize at a valuation of up to $4 billion. Additionally, HSBC stated that Prosus' stake in Byju's, an edtech company, has no value due to funding challenges and legal issues.

ShareChat to raise $60 Mn via convertible notes from Google, Lightspeed At $2.8 Bn valuation

Inc42 · 1y ago

ShareChat to raise $60 Mn via convertible notes from Google, Lightspeed At $2.8 Bn valuation

Indian social media platform ShareChat is reportedly in advanced talks to raise $60 million in funding from existing investors, including Google, Lightspeed, and Temasek. The funds will be raised through convertible notes with a discounted valuation of $2.8 billion. ShareChat had previously laid off 15% of its workforce, or around 200 employees, and is looking to reduce its burn rate. The startup was last valued at $4.9 billion in March 2022 and has raised over $1 billion in funding so far.

Anysphere Raises $900 Million at $9.9 Billion Valuation for Cursor with $500M Revenue; Amazon and Windsurf-OpenAI Talks | DeepNewz VC

Business Bytes

Business Bytes · 2m ago

Anysphere Raises $900 Million at $9.9 Billion Valuation for Cursor with $500M Revenue; Amazon and Windsurf-OpenAI Talks | DeepNewz VC

Anysphere, the maker of Cursor, secured $900 million in funding led by Thrive, achieving a $9.9 billion valuation. This brings its total funding to over $1 billion. The company announced that its annualized revenue has surpassed $500 million.

Anysphere Raises $900 Million at $9.9 Billion Valuation for Cursor with $500M Revenue; Amazon and Windsurf-OpenAI Talks | DeepNewz VC

Business Bytes

Business Bytes · 2m ago

Anysphere Raises $900 Million at $9.9 Billion Valuation for Cursor with $500M Revenue; Amazon and Windsurf-OpenAI Talks | DeepNewz VC

Anysphere, creator of Cursor, has raised $900 million in a funding round led by Thrive, achieving a valuation of $9.9 billion. This brings its total funding to over $1 billion. The company reports that its annualized revenue has now surpassed $500 million.

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