HSP Group, a Tampa-based provider of global expansion software and services for companies seeking to expand overseas, has raised $14 million in a Series B growth capital investment round.
New investor ABS Capital led this round, joined by existing investor Baird Capital, which increased its investment in the business, demonstrating its continued support for HSP’s strategic opportunities.
This brings the total investment in HSP to more than $20 million, since its inception, in October 2020, according to a statement.
HSP says it will “use this latest investment to accelerate revenue-generating initiatives, including deepening its alliance with industry partners and continuing development of its disruptive GateWay technology platform, which will roll out advanced applications designed to make managing global expansion simpler,” in the statement.
ABS Capital Partner Cal Wheaton will join HSP Group’s board of directors and his colleague Jennifer Krusius will serve as an observer.