Oyster, a global employment solution for employing, paying, and caring for distributed teams, announced it secured new financing from ServiceNow Ventures. This funding round follows Oyster’s recent Series D round, which valued the company at $1.2 billion and brings total capital raised to $291 million.
Global employment situations are unique and with the evolving local regulations and requirements, each hire creates new complexities. And this problem becomes more aggressive as companies expand into more countries, leaving HR and finance teams to struggle with managing multiple providers, agencies, systems, and processes.
Oyster’s platform addresses these issues by consolidating all of the tools and insights companies need to build a sustainable global employment strategy in one place. And Oyster’s regional and highly specialized customer experience team ensures compliance for all employment matters across 180 countries.
KEY QUOTES:
“For enterprises to grow their teams efficiently and compliantly across borders, they need a trusted partner that helps simplify the complex global employment experience. Oyster’s strategy to build the infrastructure and intelligence required to make global hiring as easy and scalable as local hiring, coupled with an intent focus on the customer, gives us confidence in their ability to transform the hiring process and deliver great experiences for employees.”
– Victor Chang, vice president of ServiceNow Ventures
“Oyster sees global employment as the future of all employment, and we are grateful to ServiceNow for sharing our belief that these practices can be viable, compliant, and equitable for all. Their investment strengthens our position as a trusted provider, and gives us ample resources to scale effectively while bringing innovative solutions to our customers. We’ve been fortunate to count some of the world’s best enterprise software companies among Oyster’s strategic investors, whose support for our mission and strategy enabled us to raise twice in the last two years. We’ll continue to address the hard parts of cross-border hiring so that people and companies can benefit from the best part—working with talent anywhere in the world.”
– Oyster co-founder and CEO Tony Jamous
