Funding round
TierPoint Growth
Reported as "Growth Equity"
TierPoint, which works in data center solutions leasing in St. Louis, raised $320M in a Growth round announced on 24 Mar 2020, led by Argo Infrastructure Partners, Wafra and Macquarie. 8 firms took part, 5 of them already investors. It is TierPoint's first venture round on record.
$320M
Amount raised
Not disclosed
Post-money valuation
8
Investors
3 leads
Valuation
What this round says about the price
TierPoint did not disclose a valuation in this round. It is TierPoint's first venture round on record, 10 years after it was founded in 2010. It is 39% of the $820M TierPoint has raised in the venture rounds on record. TierPoint raised again 23 months later: a Growth round of $500M in Feb 2022.
TierPoint's funding rounds
TierPoint has 2 venture rounds on record. This one is highlighted.
- Growth this round 24 Mar 2020, led by Argo Infrastructure Partners, Wafra and Macquarie $320M
- Growth 28 Feb 2022 $500M
Investors
Who put money in
Argo Infrastructure Partners, Wafra and Macquarie led the round with 5 other firms. Cequel III, Ontario Teachers’ Pension Plan, RedBird Capital Partners and Stephens Group and 1 more had backed TierPoint before.
Lead investors
- new investor
- backs 6 venture-backed companies new investor
- Macquarie backs 52 venture-backed companies new investor
Also in the round
- backs 3 venture-backed companies existing investor
- Ontario Teachers’ Pension Plan backs 35 venture-backed companies existing investor
- backs 13 venture-backed companies existing investor
- backs 6 venture-backed companies existing investor
- backs 6 venture-backed companies existing 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
5 Growth rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $39M, and this round was 8.2 times the median. The closest in time, other companies' Growth rounds in Hosting & Cloud Infrastructure Providers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| DataBank Hosting & Cloud Infrastructure Providers | 6 Jan 2020 | $185M | not disclosed | Colony Investment Management |
| Wasabi Hosting & Cloud Infrastructure Providers | 28 May 2020 | $30M | $281M | Forestay |
| Crusoe Hosting & Cloud Infrastructure Providers | 6 Dec 2019 | $30M | not disclosed | Bain Capital Ventures and KCK Financial Services |
| Hosting & Cloud Infrastructure Providers | 31 Oct 2019 | $39M | not disclosed | not named |
| Cologix Hosting & Cloud Infrastructure Providers | 23 Sep 2019 | $500M | not disclosed | not named |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did TierPoint raise in its Growth round?
TierPoint raised $320M in its Growth round, announced in Mar 2020.
Who led TierPoint's Growth round?
Argo Infrastructure Partners, Wafra and Macquarie led it, with Cequel III, Ontario Teachers’ Pension Plan, RedBird Capital Partners, Stephens Group and Thompson Street Capital Partners.
What was TierPoint's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Hosting & Cloud Infrastructure Providers?
5 Growth rounds in Hosting & Cloud Infrastructure Providers within a year either side disclosed an amount; the median was $39M, and this round was 8.2 times the median.
Did TierPoint raise again after this round?
Yes: a Growth round in Feb 2022 of $500M.