Oyster®, a global platform for managing distributed teams, has raised $59 million in Series D funding, led by Silver Lake Waterman with backing from existing investors, including Emergence Capital and Stripes. The new funds will enhance Oyster’s platform capabilities, improve customer compliance, and expand its reach to help companies attract and retain top talent. Currently, over 40% of employees on Oyster’s platform are from emerging markets, and the company remitted hundreds of millions to these regions in 2023. This latest round values Oyster at $1.2 billion, bringing its total funding to $286 million.
Shawn O’Neill, Managing Partner of Silver Lake Waterman, praised Oyster for its role in simplifying global employment and compliance. “In just four years, Oyster built a platform with trusted tools and deep local HR knowledge, positioning them as a leader in global employment solutions,” O’Neill said.
Oyster has launched several new tools to support global teams, including Global Payroll, Visa Sponsorships, and Salary Insights for fair employee compensation. Additionally, Oyster Embedded, a no-code solution, allows companies to integrate global hiring and payroll functionalities within their products.
Oyster has also partnered with HR firms like BambooHR and TriNet, offering customers a streamlined hiring and compliance experience. Recently, The Josh Bersin Company selected Oyster as a trusted content partner for its AI-driven HR assistant, Galileo™.
As a B Corp-certified company, Oyster is committed to democratizing global job access. Clients such as Quora and Printify use the platform to navigate cross-border talent strategies while ensuring compliance in over 180 countries.
Oyster CEO Tony Jamous highlighted the company’s mission to create equitable global employment. “This funding validates our vision that global employment should value human potential and fuel economic impact,” Jamous said, reaffirming Oyster’s focus on fostering a sustainable, human-centric employment model.
