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HSP Group, a Tampa tech company whose software and services helps businesses expand their global footprint, has raised $14 million in a Series B investment round led by ABS Capital. Baird Capital, a previous investor, also participated.
According to a news release, the latest injection of growth capital brings HSP Group’s total investment to $20 million since it was founded in October 2020. The company says it will use the funding to accelerate revenue-generating initiatives, such as continued development of its GateWay platform, which will feature new applications aimed at improvement management of international expansion.
“At HSP, our mission is to facilitate expert-led global expansion for companies looking to open or expand overseas,” HSP Group Founder and CEO Larry Harding states in the release. “We do this with an unparalleled focus on the customer experience that enables us to make the complex simple.”
He adds: “HSP is the only provider committed to delivering all the people and entity solutions needed for global expansion, in every country, throughout the world. With this latest investment round, we can better ensure that our technology, people, methodology, pricing and expertise all combine seamlessly to make this happen.”
According to the release, ABS Capital Partner Cal Wheaton will join HSP Group’s board of directors, while his colleague Jennifer Krusius will serve as an observer.
“The leadership team at HSP brings deep and tenured experience with outsourced global expansion services, providing them a keen understanding of the opportunities and challenges in the industry and how to be best positioned to serve rapidly changing customer needs,” Wheaton states in the release. “We look forward to working with the team to build the leading technology-led services offering addressing the spectrum of customer needs in this industry.”
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