Xplore Acquisition, Valuation, Funding & Investors

Xplore was acquired by Stonepeak for $2B in February 2020.

Xplore acquisition price

$2B

Acquired by Stonepeak · Feb 2020

Cumulative funding Xplore raised

$894M

across 1 funding round

Key investors in Xplore

  • Stonepeak

Xplore Overview

About Xplore

Xplore is a broadband provider delivering fiber optic and 5G fixed wireless internet services to rural communities across Canada. Headquartered in Ontario, the company builds extensive networks to offer high-speed connectivity for residential and business customers, emphasizing reliable service for remote areas.


Founded

2004

HQ

CanadaCanada

Website

xplore.ca

Status

Acquired

Customer focus

B2C & B2B

Revenue model

Subscription

Valuation

$2B (acquired Feb 2020)

Xplore Acquisition

Xplore was acquired by Stonepeak for $2B on 27 February 2020.

Before the acquisition Xplore had raised $894M across 1 funding round.

Xplore acquisition details
AcquirerDateTypePrice
  • Stonepeak
27 Feb 2020PE buyout$2B

Xplore Funding History

Xplore has raised a total of $894M across 1 funding round.

Xplore funding rounds

Xplore funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2024Undisclosed stageStonepeak (lead)$894MXplore Inc. (formerly Xplornet) is Canada’s leading provider of high-speed broadband services, focusing on fiber optic and 5G wireless networks for rural communities. Stonepeak, its controlling shareholder, led a C$1.6 billion recapitalization announced in November 2024, committing over C$1.6 billion in new funding for fiber network expansion, supplemented by government programs. Earlier, Stonepeak acquired a controlling stake in Xplornet in June 2020, enabling accelerated investment in its hybrid fiber-wireless-satellite network. Xplore also secured C$375 million financing from Canada Infrastructure Bank to boost rural broadband access.

Who has invested in Xplore?

1 investor has backed Xplore across its funding rounds, including Stonepeak.

Lead investors include Stonepeak.


Xplore Investors

Investors in Xplore by funding rounds participated
InvestorHQRoundsRoleFirst check

This data is available for Pro users. Sign up to see all 1 Xplore investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Investments by Xplore

Xplore has invested in 3 companies to date.

Latest investment by Xplore was on July 1st 2025. Xplore invested in RainPath in their $3M Seed round.


Latest Investments by Xplore

RainPath
Zelok
Stirweld
Description
-
Zelok is a Paris-based SaaS platform for rental property management targeting real estate agencies in France. The tool handles tenant applications, lease drafting compliant with French law, rent collection via SEPA, and maintenance ticketing. Serving 1,000+ agencies since 2019, Zelok integrates with Seloger listings and provides analytics on vacancy rates and rental yields.
Stirweld is a friction stir welding technology company spun off from ENS Rennes and Maupertuis Institute in France. Nantes-headquartered since 2019, it manufactures robotic welding machines for aluminum and titanium alloys used in aerospace and rail transport. Stirweld's SWb-T system enables high-speed welds up to 2 meters per minute. The company partners with Airbus and Alstom for production integration.
HQ CountryFranceFranceFrance
HQ City
La Mézière
Les Sables-d'Olonne
Rennes
Deal Date1 Jul 202519 Sep 202416 Jul 2024
RoundSeedSeedSeries A
Raised$3M$3M$7M
InvestorsTHE QUEST; ADVANS Lab; Sharpstone Capital; Teampact ventures; BpifranceWidoowin CF; Calao FinancePertinence Invest; Bpifrance; Breizh Up
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

This data is available for Pro users. Sign up to see all Xplore investments and their VC round multiples.

Start Free Trial

Xplore Competitors

Xplore competitors include listed companies like Browave, Chorus, Mitratel and Tower Bersama, and private ones like BBL Company and Reggefiber.

Public and private companies comparable to Xplore
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BrowaveTaiwanTaiwanPublicly listed$70M$19M$1.9B26.2x
ChorusNew ZealandNew ZealandPublicly listed$591M$291M$2.1B6.5x
BBL CompanyNetherlandsGroningenPrivate--$2.2B-
MitratelIndonesiaIndonesiaPublicly listed$537M$402M$2.2B5.8x
Tower BersamaIndonesiaIndonesiaPublicly listed$390M$290M$1.8B8.9x
ReggefiberNetherlandsEnschedePrivate--$1.8B-

Xplore Public Comps

Xplore is no longer listed, but its public comps include Browave, Chorus, Mitratel, Tower Bersama, Liberty Latin America, FOCI Fiber Optic Communications, Uniti Group, SUNeVision, Cetc Potevio Science and Anterix.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Browave$70M$19M26.8x26.2x96.3x89.2x
Chorus$591M$291M6.7x6.5x13.6x9.2x
Mitratel$537M$402M6.0x5.8x8.1x7.1x
Tower Bersama$390M$290M9.0x8.9x12.1x10.4x
Liberty Latin America$4.4B$909M2.2x2.3x11.0x6.2x
FOCI Fiber Optic Communications$59M$4M37.2x31.6x522.6x512.9x
Uniti Group$2.2B$1.2B5.7x3.9x10.9x9.2x
SUNeVision$374M$266M9.8x8.9x13.7x12.1x

This data is available for Pro users. Sign up to see all Xplore competitors and their valuation data.

Start Free Trial

Common questions about Xplore

When was Xplore founded?Xplore was founded in 2004.
Where is Xplore headquartered?Xplore is headquartered in Canada.
Is Xplore publicly listed?No, Xplore was acquired by Stonepeak in February 2020.
Who acquired Xplore?Xplore was acquired by Stonepeak in February 2020.
How much was Xplore acquired for?Xplore was acquired for $2B in February 2020.
How much funding has Xplore raised?Xplore has raised $894M across 1 funding round.
What was Xplore's last funding round?Xplore's last funding round was a $894M undisclosed-stage round in June 2024, led by Stonepeak.
Who are Xplore's investors?Xplore's investors include Stonepeak.
Which companies are comparable to Xplore?Companies comparable to Xplore include Browave, Chorus, BBL Company, Mitratel, Tower Bersama and Reggefiber.
How many companies has Xplore invested in?Xplore has invested in 3 companies, including RainPath, Zelok and Stirweld.
What was Xplore's last investment?In July 2025, Xplore invested in RainPath's $3M seed round alongside THE QUEST, ADVANS Lab, Sharpstone Capital and 2 other investors.

See companies similar to Xplore

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial