HypaShip closes further investment

HypaShip, the provider of Delivery Management Software (DMS) and Carrier Operating Software (COS) has secured an additional £1m investment led by Concentric. The investment will ensure HypaShip continues to provide full-featured software in its current markets, while also funding expansion into new geographical areas.

“We are delighted to welcome Concentric as a new shareholder into the business at an exciting time in our growth story. Concentric have an impressive track record in active ownership and strategic assistance with high growth European tech businesses, and we are confident that we have the basis of another successful partnership” said Neil Gold, CEO, HypaShip.

Kjartan Rist, Co-Founder, Concentric, added: “We were attracted to HypaShip as an investment based on Neil Gold’s stewardship and experience, together with the belief, the Company has the market leading solution for the “Logistics” market which typically is built upon old legacy, inefficient, and costly platforms. Also, as one of the largest DMS providers with annualised volumes of 50 million parcels, HypaShip has achieved a  a great position within the Shipper, Postal and Third Party Logistics Provider markets during 2017. We are looking forward to supporting the management team in meeting their ambitious growth targets as it drives the business forward to future success.”