Funding round
Kelso Industries Growth
Reported as "Growth Equity"
Kelso Industries, which works in MEP+ solutions consulting in Draper, raised $50M in a Growth round announced on 27 Nov 2023, led by Paceline Equity Partners. 1 firm took part. It is Kelso Industries' first venture round on record.
$50M
Amount raised
Not disclosed
Post-money valuation
1
Investors
1 lead
Valuation
What this round says about the price
Kelso Industries did not disclose a valuation in this round. It is Kelso Industries' first venture round on record, 90 years after it was founded in 1933. It is 8.9% of the $560M Kelso Industries has raised in the venture rounds on record. Kelso Industries raised again 34 months later: a Growth round of $510M in Sep 2026.
Kelso Industries' funding rounds
Kelso Industries has 2 venture rounds on record. This one is highlighted.
- Growth this round 27 Nov 2023, led by Paceline Equity Partners $50M
- Growth 9 Sep 2026, led by NorthSands $510M
Investors
Who put money in
Paceline Equity Partners led the round.
Lead investor
- backs 4 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to acquisitions.
- Acquisitions
Comparable rounds
How it compares
The closest in time, other companies' Growth rounds in Heating & Air Conditioning:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Heating & Air Conditioning | 27 Mar 2024 | undisclosed | not disclosed | not named |
| Heating & Air Conditioning | 21 Apr 2023 | $132M | not disclosed | not named |
| Sila Services Heating & Air Conditioning | 10 Nov 2024 | $1.70B | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Kelso Industries raise in its Growth round?
Kelso Industries raised $50M in its Growth round, announced in Nov 2023.
Who led Kelso Industries' Growth round?
Paceline Equity Partners led it.
What was Kelso Industries' valuation at the Growth round?
It was not disclosed.
Did Kelso Industries raise again after this round?
Yes: a Growth round in Sep 2026 of $510M.