Oyster, a global employment solution for employing, paying, and caring for distributed teams, announced it raised $59 million in Series D funding. Silver Lake Waterman led the round, which included existing investors Emergence Capital, Stripes, Georgian, G2 Venture Partners, and Endeavor Catalyst.
This funding will enable Oyster to accelerate its product roadmap, scale its impact, improve its compliance posture, and enhance its customers’ ability to attract and retain top talent.
Over 40% of Team Members employed on the Oyster platform are in emerging markets, and the company remitted hundreds of millions to emerging markets in 2023. This funding raises the company’s value to $1.2 billion and brings its total funding to $286 million.
Over the last year, Oyster launched several products and services to give companies more tools and insights to scale their global operations confidently. For example, Global Payroll and Visa Sponsorships help simplify operations and support borderless teams, while the Salary Insights tool offers fair compensation recommendations for domestic and international employees. And Oyster Embedded is the category’s first no-code solution that enables customers to offer global hiring, payroll, and rewards within their product.
By enabling partners to focus on what they do best while ensuring global employment is fair and compliant, Oyster attracted HR Information System and Professional Employer Organization partners like BambooHR and TriNet—giving joint customers the flexibility, scale, and white-glove hiring experience they deserve. As a further testament to Oyster’s world-class knowledge and AI capabilities, The Josh Bersin Company also picked Oyster as a Trusted Content Partner for its HR AI assistant Galileo.
As one of the world’s only B Corp-certified unicorn companies, Oyster’s goal is to create a more equal world by democratizing access to global job opportunities — so everyone, everywhere, has the chance to do well. And customers like Lokalise, Quora, and Printify selected Oyster to develop sustainable cross-border talent strategies, create competitive offers that attract and retain talent, and stay compliant at every stage of the employment journey. And the company’s country-level intelligence automates employment and compliance for over 180 countries, reducing the burden on internal People, HR, and Payroll teams while saving on high costs of external advice.
KEY QUOTES:
“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 built a platform of trusted tools and resources for bulletproof global compliance and in-depth local HR knowledge—a strategy that has made them one of the leaders in the market. The team at Oyster is well positioned to continue to deliver the specialized HR solution required for the current global employment experience and we look forward to all that’s ahead.”
- Shawn O’Neill, Managing Partner of Silver Lake Waterman
“This funding round validates our approach to building the compliance and compensation intelligence infrastructure companies need to drive global growth. We are grateful that the Silver Lake Waterman team shares our belief that global employment shouldn’t be a transactional service—it’s a dynamic relationship that values human potential, fosters innovation, and fuels economic impact. At the heart of Oyster’s success is an unwavering commitment to our mission: we believe that by making it possible for companies everywhere to hire people anywhere, we can create a more sustainable and equitable future for all. We’re proud to contribute to a movement that makes human-centric employment available to workers globally.”
- Oyster co-founder and CEO, Tony Jamous
