# HSP Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hsp-group

- Industry: Business Support Services
- Headquarters: Bonita Springs, US
- Website: www.hsp.com
- Total disclosed funding: $35M
- Latest round: Series B (Nov 21, 2022)
- Investors on record: 6

## About

HSP Group, Inc. is a provider of global expansion management solutions, focusing on automating payroll, HR, and compliance processes through advanced technology. Their proprietary platform, GateWay, streamlines international operations for diverse clients.HSP Group, Inc. specializes in global expansion management, helping businesses automate payroll and compliance processes. Founded in 2020 in Bonita Springs, US, the company has engaged in 10 deals, with the most recent on October 17, 2024, raising USD 8.333 mn in Series B funding. Larry Harding leads the company as CEO, while co-founders include Dan Kragt, Isidro Helder, Katie Davies, and Randy Worzala.HSP Group specializes in providing comprehensive global expansion management solutions, with a primary focus on automating and streamlining payroll, HR, compliance, and related administrative processes through their proprietary technology platform, GateWay. This platform enables clients to manage their international operations within a single interface, addressing complexities in payroll compliance, legal matters, and entity management across various jurisdictions. HSP Group serves a diverse clientele that includes finance and HR departments of both large enterprises and startups looking to expand their operations globally. Their services are utilized in over 60 countries, specifically targeting markets in North America, Europe, and parts of Asia, allowing clients to efficiently navigate local laws and regulations while gaining real-time insights into compliance status.HSP Group generates revenue through various service offerings tied to their GateWay platform, which operates on a subscription-based model. Clients engage with the company primarily through B2B transactions, leveraging HSP's expertise in areas such as global payroll, HR administration, and compliance consulting. The company provides tailored solutions that may include entity management and tax compliance services, allowing clients to optimize their international workforce strategies. Pricing structures are defined based on the specific needs and scale of the client’s operations, encompassing both standard packages and bespoke services to accommodate varying complexity levels in different regions. HSP’s flagship offerings have positioned the company as a key partner for businesses aiming to expand their global footprint efficiently and effectively.In October 2024, HSP Group, Inc. raised USD 8.33 million in Series B funding from unspecified investors. The company plans to utilize these funds to enhance its technology platform and expand its service offerings. HSP aims to launch new products centered on improving compliance automation and exploring additional markets in Asia by 2025. These initiatives are designed to bolster their existing client base and attract new customers looking for robust global expansion management solutions.

## Funding rounds

- Series B, Nov 21, 2022, $14M — ABS Capital Partners, Baird Capital Partners
- Series D, Mar 26, 2013, $8M — Baird Capital Partners, Gold Hill Capital, Sigma Partners
- Series C, Aug 10, 2011, $6.3M — Baird Capital Partners, Gold Hill Capital, Sigma Partners
- Series B, May 3, 2010, $6M — Baird Capital Partners, Institutional Venture Partners, Sigma Partners
- Series A, Jan 30, 2009, $1M — SVB Capital

## Investors

- SVB Capital (https://capitalatlas.ai/funds/svb-capital) — Series A
- Baird Capital Partners (https://capitalatlas.ai/funds/baird-capital-partners) — Series B, Series C, Series D
- Institutional Venture Partners (https://capitalatlas.ai/funds/institutional-venture-partners) — Series B
- Sigma Partners — Series B, Series C, Series D
- Gold Hill Capital (https://capitalatlas.ai/funds/gold-hill-capital) — Series C, Series D
- ABS Capital Partners (https://capitalatlas.ai/funds/abs-capital-partners) — Series B