Oyster, a leading global employment platform, has raised $59 million in Series D funding led by Silver Lake Waterman, with contributions from existing investors like Emergence Capital and Stripes. This latest investment values Oyster at $1.2 billion and boosts its total funding to $286 million. The funds will be used to accelerate the company’s platform roadmap, expand its global reach, and improve compliance and talent management for its customers.
- Funding and Valuation:
- Series D Funding: Oyster raised $59 million in a Series D round led by Silver Lake Waterman, with participation from Emergence Capital, Stripes, Georgian, G2 Venture Partners, and Endeavor Catalyst.
- Company Valuation: The new funding round values Oyster at $1.2 billion, bringing its total funding to $286 million.
- Platform Enhancements and New Features:
- Global Payroll and Visa Sponsorships: New tools simplify operations and support borderless teams, making global employment more manageable.
- Salary Insights: Provides fair compensation recommendations for both domestic and international employees.
- Oyster Embedded: The first no-code solution that allows customers to integrate global hiring, payroll, and rewards into their own products.
- Partnerships and Industry Recognition:
- Strategic Partnerships: Oyster has partnered with HR Information System providers like BambooHR and Professional Employer Organizations such as TriNet, enhancing flexibility and scale for joint customers.
- Recognition: Selected as a Trusted Content Partner for The Josh Bersin Company’s HR AI assistant, Galileo.
- Impact on Emerging Markets:
- Global Reach: Over 40% of Oyster’s team members are based in emerging markets, with the company remitting hundreds of millions to these regions in 2023.
- B Corp Certification: As one of the few B Corp-certified unicorns, Oyster is committed to democratizing access to global job opportunities and fostering a more equitable world.
- Customer Testimonials and Success Stories:
- Customer Base: Companies like Lokalise, Quora, and Printify use Oyster to develop sustainable cross-border talent strategies and ensure compliance.
- Customer Benefits: Oyster’s platform automates employment and compliance across 180+ countries, reducing the burden on internal HR teams and cutting costs of external advice.
- CEO Perspective:
- Tony Jamous, Co-Founder and CEO: Highlights the importance of global employment as a dynamic relationship that values human potential and fosters innovation. The funding round validates Oyster’s approach to building compliance and compensation intelligence infrastructure.
The $59 million Series D funding marks a significant milestone for Oyster, enabling the company to further develop its global employment solutions, enhance compliance, and support companies in managing cross-border talent. Oyster’s commitment to democratizing access to global job opportunities and fostering equitable employment practices remains at the heart of its mission.
