Oyster joins unicorn club amid distributed work movement

Oyster, a global employment platform, has raised $150m in Series C funding, propelling it to unicorn status less than two years after its launch.

Georgian, who led the round, was joined by Salesforce Ventures, LinkedIn, the Base10 Partners Advancement Initiative, Okta, and Endeavor Catalyst, along with existing investors Stripes, Emergence Capital, PayPal Ventures, Slack Fund, Avid Ventures, PeopleTech Partners, and HR Tech Investments, an affiliate of Indeed.

Founded in 2020, Oyster describes itself as global employment platform that empowers companies to hire, pay, and care for their global teams. The company said it enables growing companies to give valued international team members the experience they deserve, without the usual headaches or expense.

Oyster’s Series C follows a pair of funding rounds in 2021, including a Series A in February and a Series B in June. The company has raised a total of $227 million to date. Oyster plans to use the Series C funding to further develop its global employment platform and invest in the People Ops community. In addition, the company will continue its work toward creating a gold standard distributed culture and delivering on its high-impact social mission.

Oyster said its continued momentum speaks to the overall power of the distributed work movement, with the best companies in the world increasingly choosing to hire talent wherever it is found, while empowering their teams to work from anywhere. Oyster customers, who can recruit job seekers in over 180 countries, already use the platform to pay more than $200m to global talent each year, with 25% of that talent living in emerging economies.

Copyright © 2022 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.