Funding round
euNetworks Growth
Reported as "Growth Equity"
euNetworks, which works in bandwidth infrastructure services in London, raised $2.34B in a Growth round announced on 27 Aug 2024, led by Stonepeak, Mercer and Aware Super. 5 firms took part.
$2.34B
Amount raised
2,100,000,000 EUR converted
Not disclosed
Post-money valuation
5
Investors
3 leads
Valuation
What this round says about the price
euNetworks did not disclose a valuation in this round. It is euNetworks' first venture round on record, 22 years after it was founded in 2002. No later venture round is on record for euNetworks.
euNetworks' funding rounds
This is the only venture round on record for euNetworks.
- Debt not a venture round 20 Jun 2024 $1.35B
- Growth this round 27 Aug 2024, led by Stonepeak, Mercer and Aware Super $2.34B
Investors
Who put money in
Stonepeak, Mercer and Aware Super led the round with 2 other firms.
Lead investors
- backs 7 venture-backed companies new investor
- Mercer new investor
- Aware Super new investor
Also in the round
- APG Asset Management new investor
- Investment Management Corporation of Ontario new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations and working capital.
- Scaling operations
- Working capital
Comparable rounds
How it compares
8 Growth rounds in Telecommunications within a year either side disclosed an amount; the median was $60M, and this round was 39 times the median. The closest in time, other companies' Growth rounds in Telecommunications:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tillman Infrastructure Telecommunications | 25 Apr 2024 | $1.00B | not disclosed | not named |
| Telecommunications | 10 Apr 2024 | $200M | not disclosed | National Investment and Infrastructure Fund |
| Telecommunications | 13 Feb 2024 | $37M | not disclosed | Intel Capital and Innovation Endeavors |
| Telecommunications | 27 Feb 2025 | $30M | not disclosed | NGP Capital |
| Telecommunications | 27 Mar 2025 | $60M | not disclosed | Post Road Group |
| Telecommunications | 29 Apr 2025 | $60M | not disclosed | SoftBank |
| Telecommunications | 14 Nov 2023 | $25M | not disclosed | not named |
| Telecommunications | 10 Jul 2025 | $220M | $1.00B | CVC |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did euNetworks raise in its Growth round?
euNetworks raised $2.34B in its Growth round, announced in Aug 2024.
Who led euNetworks' Growth round?
Stonepeak, Mercer and Aware Super led it, with APG Asset Management and Investment Management Corporation of Ontario.
What was euNetworks' valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Telecommunications?
8 Growth rounds in Telecommunications within a year either side disclosed an amount; the median was $60M, and this round was 39 times the median.