Global employment solutions provider Oyster has raised $59 million in its latest Series D funding round, led by Silver Lake Waterman. This round also saw significant participation from existing investors, including Emergence Capital, Stripes, Georgian, G2 Venture Partners, and Endeavor Catalyst.
With this latest capital infusion, Oyster’s valuation has soared to $1.2 billion, bringing its total funding to $286 million. The company’s mission is to simplify global employment by offering a robust platform designed to manage hiring, payroll, and HR compliance for distributed teams worldwide. Their tools enable businesses to navigate the complexities of global employment, ensuring compliance with local laws and providing critical HR expertise.
The newly secured funds will be directed towards advancing Oyster’s platform, specifically enhancing compliance capabilities and improving the overall customer experience. These initiatives aim to solidify Oyster’s position as a leading player in the global employment space, empowering companies to attract and retain top talent from anywhere in the world.
In the past year, Oyster has expanded its product offerings to support global operations more comprehensively. These new services include Global Payroll, Visa Sponsorships, and the Salary Insights tool, which provides companies with equitable compensation recommendations. Additionally, the company launched Oyster Embedded, a no-code solution allowing businesses to integrate hiring, payroll, and rewards into their platforms seamlessly.
Oyster has also grown its partnership network by collaborating with major HR Information System (HRIS) providers like BambooHR and TriNet, delivering a more flexible and scalable hiring experience to joint customers.
At the core of Oyster’s success is its commitment to a human-centric approach to employment, with Jamous highlighting the company’s mission to make sustainable, equitable work opportunities available globally.
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