Oyster®, the leading platform for global employment solutions, has successfully closed a $59 million Series D funding round. The financing, spearheaded by Silver Lake Waterman and supported by notable investors including Emergence Capital, Stripes, Georgian, G2 Venture Partners, and Endeavor Catalyst, positions Oyster to further accelerate its expansion and refine its innovative services. With this latest investment, Oyster is now valued at $1.2 billion, bringing its total funding to $286 million.
Oyster’s groundbreaking platform addresses the complexities of global employment by offering a suite of services designed to streamline the hiring, payment, and management of distributed teams. The company’s solution is particularly impactful in emerging markets, where over 40% of its workforce is based. In 2023 alone, Oyster facilitated the transfer of hundreds of millions of dollars to these regions, underscoring its commitment to global economic development.
Shawn O’Neill, Managing Partner at Silver Lake Waterman, praised Oyster’s achievements, stating, “Global employment is incredibly complex, involving many moving parts. Oyster emerged as a best-of-breed solution in the category to solve these traditional challenges. In just four years, Oyster has developed a platform that provides robust global compliance and in-depth local HR knowledge, establishing itself as a market leader. We are excited about the company’s future and the potential it holds.”
In the past year, Oyster has expanded its offerings to enhance global operations for businesses. New features include Global Payroll and Visa Sponsorships to ease operational burdens, and the Salary Insights tool to ensure fair compensation across borders. The introduction of Oyster Embedded, a no-code solution, allows clients to integrate global hiring, payroll, and rewards directly into their own systems.
Oyster’s strategic alliances with HR Information Systems and Professional Employer Organizations, such as BambooHR and TriNet, further illustrate its commitment to delivering flexible and comprehensive global employment solutions. Additionally, Oyster has been recognized by The Josh Bersin Company as a Trusted Content Partner for its HR AI assistant, Galileo™.
As one of the few B Corp-certified unicorns, Oyster is dedicated to democratizing access to global job opportunities. By providing a platform that supports equitable and compliant global employment, Oyster helps companies like Lokalise, Quora, and Printify build effective cross-border talent strategies and maintain compliance throughout the employment lifecycle.
Oyster Co-Founder and CEO Tony Jamous expressed his enthusiasm for the company’s future, stating, “This funding round validates our approach to building the compliance and compensation intelligence infrastructure companies need to drive global growth. We are grateful for Silver Lake Waterman’s support and share their belief that global employment is more than a transaction—it is a dynamic relationship that values human potential, fosters innovation, and drives economic impact. Our mission remains to make global hiring accessible to all, creating a more sustainable and equitable future.”
Editorial Opinion:
Oyster’s significant funding milestone highlights the transformative potential of its platform in the global employment sector. By addressing the intricate challenges of cross-border hiring and compliance, Oyster not only simplifies these processes for companies but also supports economic development in emerging markets. The company’s commitment to fair and compliant global employment practices is not just a competitive edge; it is a crucial step towards a more inclusive and equitable global workforce.
Oyster’s approach to integrating advanced tools such as Global Payroll and Salary Insights, coupled with its strategic partnerships, positions it as a pivotal player in the HR technology space. As the world increasingly embraces remote and distributed work, Oyster’s ability to offer a seamless and compliant employment experience will be essential for companies looking to thrive in the global market. With its strong leadership and innovative solutions, Oyster is well poised to lead the charge in shaping the future of global employment.
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