Total amount raised
$288.2 Millions
Latest funding date
11/1/2024
Location
Oyster has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive HR solution for globally distributed teams, enabling companies to hire, pay, and manage employees and contractors in over 180 countries.
Keep reading to explore the intricacies of Oyster's fundraising journey and the investors backing this innovative platform.
What Is Oyster?
Oyster, founded in 2020 by Jack Mardack and Tony Jamous, is headquartered in Charlotte, North Carolina. The company specializes in providing a comprehensive HR platform for globally distributed teams. With a workforce of 501-1000 employees, Oyster enables businesses to hire, pay, and manage employees and contractors in over 180 countries.
How Much Funding Has Oyster Raised?
- Seed Round
- Amount Raised: $4.2M
- Date: April 2020
- Lead Investors: Connect Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their HR platform and establish a market presence.
- Series A
- Amount Raised: $20M
- Date: February 2021
- Lead Investors: Emergence Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their team and enhance platform capabilities.
- Series B
- Amount Raised: $50M
- Date: June 2021
- Lead Investors: Stripes
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series C
- Amount Raised: $150M
- Date: April 2022
- Lead Investors: Georgian
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their technology and expand their global reach.
- Series D
- Amount Raised: $59M
- Date: September 2024
- Lead Investors: Silver Lake Waterman
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen their market position and enhance customer experience.
- Series D
- Amount Raised: $5M
- Date: November 2024
- Lead Investors: ServiceNow Ventures
- Valuation at Round: $1.2 billion
- Motivation Behind the Round: To scale effectively and bring innovative solutions to customers.
Total Amount Raised: $288.2M. Current Valuation: $1.2 billion.
Key Investors
- ServiceNow Ventures
- Details: ServiceNow Ventures is the corporate venture capital arm of ServiceNow, focusing on strategic investments that align with ServiceNow’s mission to improve work efficiency and compliance.
- Investment Focus Areas: Digital workflows, enterprise software, work efficiency solutions.
- Notable Investments: ServiceNow, Element AI, MapAnything.
- Silver Lake Waterman
- Details: Silver Lake Waterman provides growth capital to later-stage technology companies, helping them scale and achieve their strategic goals.
- Investment Focus Areas: Technology, e-commerce, enterprise software.
- Notable Investments: Airbnb, Alibaba, Dell Technologies.
- Georgian
- Details: Georgian is a growth equity firm that invests in high-growth software companies, particularly those leveraging applied artificial intelligence and trust technologies.
- Investment Focus Areas: Software, artificial intelligence, trust technologies.
- Notable Investments: Shopify, FreshBooks, Ritual.
- Stripes
- Details: Stripes is a growth equity firm that invests in software and consumer products companies, supporting them through their growth stages.
- Investment Focus Areas: Software, consumer products, technology.
- Notable Investments: Monday.com, Snyk, Reformation.
- Emergence Capital
- Details: Emergence Capital focuses on early and growth-stage investments in enterprise cloud companies, helping them scale and innovate.
- Investment Focus Areas: Enterprise cloud, SaaS, business software.
- Notable Investments: Salesforce, Zoom, Veeva Systems.
What's Next for Oyster?
Oyster stands at the cusp of a significant opportunity to simplify the complex global employment landscape. With the potential to serve enterprises expanding their teams internationally, the company is poised to build scalable infrastructure and intelligence for global hiring. This opportunity is vast, given the increasing complexity of local regulations and the growing need for consolidated global employment solutions.
Future fundraising seems promising, as recent successful rounds indicate continued investor interest. Oyster's strategic support from investors like ServiceNow Ventures suggests that further capital could be secured to enhance their platform and customer experience. However, the company will need to navigate the challenges of managing diverse local employment regulations and ensuring compliance across numerous countries.
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