Oyster is a B Corp-certified global employment platform that enables companies to hire, pay, and care for distributed teams. The platform provides reliable, compliant contracts, payroll, and local benefits and perks to support people-centric hiring anywhere in the world. Founded in January 2020 by Tony Jamous and Jack Mardack and based in San Francisco, CA, Oyster focuses on enabling employers to employ distributed teams. The company received a $5M investment from ServiceNow Ventures and intends to use the funds to expand operations and its development efforts. This funding followed a recent Series D that valued Oyster at $1.2 billion and brings total capital raised to $291M. Oyster is a payroll and HR platform that specializes in global employment, enabling companies to employ and pay distributed workers by hiring on clients' behalf and remitting salaries. The 2019-founded U.S. startup focuses on paying remote workers in emerging markets, saying over 40% of people on its platform are in those markets and that it remitted “hundreds of millions” to workers in 2023. Oyster is B Corp-certified and in the last year launched products including Global Payroll, Visa Sponsorships, local compensation insights, and a no-code offering that embeds global hiring, payroll, and rewards into customers' HR products. Management says the company has grown more than 7x in two years and improved margins substantially. Clients and partners include TriNet BambooHR, Quora, Lokalise, and Printify. The new funding will be used to accelerate platform development and expand more generally. Founded in January 2020 by Tony Jamous and Jack Mardack, Oyster provides a platform to hire international employees compliantly, pay them instantly, and provide local benefits in 180+ countries. Customers already use the platform to pay more than $200 million to global talent each year. In 2021 the company grew revenue by over 20x and grew the number of team members employed on its platform by 17x. It has a team of 500 employees in over 60 countries. The company intends to use the funding to further develop its global employment platform and invest in the People Ops community. Oyster provides an HR platform for globally distributed companies designed to make hiring talented people around the world compliant, human, and delightful. The platform aims to enable growing organizations to give international team members a better experience without the usual headaches or expense. Oyster announced new investments from PayPal Ventures and HR Tech Investments, an affiliate of Indeed. The company communicated the funding news from San Francisco, CA. The announcement was published by Massinvestor, Inc. No financial terms, instruments, or operating metrics were disclosed in the article. Oyster provides a platform to help organizations hire and manage distributed workforces, offering hiring, onboarding, payroll, benefits, and salary-management services for contractors and full-time employees outside a company’s home country. The company reports exponential growth and now works with 80 large businesses to fill knowledge-worker roles. Pricing mentioned in the article ranges from $29 per person per month for contractors to $399 for full employees, with additional packages for larger deployments. Oyster holds B-Corp certification and emphasizes a mission to expand access to global job opportunities, including in emerging economies. The company was co-founded by Tony Jamous and Jack Mardack; Jamous is described as London-based. Oyster competes in a crowded market alongside companies like Deel, Papaya Global, Remote, and Turing.

Total raised

$288M

Funding rounds

7

Latest round

Equity

Latest activity

Nov 2024