Ex-Tesla Execs' Dealership-Driven Platform Hits $1B Value

Law360 (October 21, 2020, 5:15 PM EDT) -- Fenwick-led Tekion, which was created by former Tesla executives to help car dealerships manage their businesses more efficiently, said Wednesday that it has been valued at more than $1 billion after its latest funding round, which was led by Kirkland-advised Advent International.

Tekion said in a news release that it reached unicorn status — an industry term for privately held startups worth $1 billion or more — after raising $150 million in Series C funding to further develop its technology and support growth. The financing will also see the San Ramon, California-based company add seats to its board as two Advent-related...

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