Funding round
Kelso Industries Growth
Reported as "Growth Equity"
Kelso Industries, which works in MEP+ solutions consulting in Draper, raised $510M in a Growth round announced on 9 Sep 2026, led by NorthSands. 2 firms took part, 1 of them already investors. It is Kelso Industries' second venture round on record; the one before was a Growth in Nov 2023.
$510M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Kelso Industries did not disclose a valuation in this round. It came 34 months after Kelso Industries' Growth. It is 91% of the $560M Kelso Industries has raised in the venture rounds on record. No later venture round is on record for Kelso Industries.
Kelso Industries' funding rounds
Kelso Industries has 2 venture rounds on record. This one is highlighted.
- Growth 27 Nov 2023, led by Paceline Equity Partners $50M
- Growth this round 9 Sep 2026, led by NorthSands $510M
Investors
Who put money in
NorthSands led the round with 1 other firm. Peterson Partners had backed Kelso Industries before.
Lead investor
- backs 2 venture-backed companies new investor
Also in the round
- backs 16 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, geographic expansion, scaling operations, acquisitions and working capital.
- Hiring
- Geographic expansion
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Heating & Air Conditioning, then Growth rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Heating & Air Conditioning | 1 Oct 2025 | $3.40B | not disclosed | not named |
| Figure Industrial Machinery & Supplies | 4 Sep 2026 | $3.50B | not disclosed | not named |
| Vantage Data Centers Data Solutions | 15 Sep 2026 | $2.00B | not disclosed | not named |
| Jupiter Power Renewable energy companies | 16 Sep 2026 | $1.40B | not disclosed | not named |
| Motive Tech Companies | 10 Sep 2026 | $1.30B | not disclosed | General Catalyst |
| Motive Tech Companies | 10 Sep 2026 | $1.30B | not disclosed | General Catalyst |
| BMG Art & Music Publishers | 17 Sep 2026 | $1.25B | not disclosed | Apollo |
| Adani Airport Holdings Transportation & Shipping | 9 Sep 2026 | $1.00B | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Kelso Industries raise in its Growth round?
Kelso Industries raised $510M in its Growth round, announced in Sep 2026.
Who led Kelso Industries' Growth round?
NorthSands led it, with Peterson Partners.
What was Kelso Industries' valuation at the Growth round?
It was not disclosed.