- Companies
- Oyster
Oyster Valuation, Funding & Investors
Oyster is valued at $1.2B as of November 2024.
Last Oyster valuation
$1.2B
Series D · Nov 2024
Last Oyster funding round
$5M
Series D · Nov 2024
Cumulative funding Oyster raised
$288M
across 6 funding rounds
Key investors in Oyster
Emergence Capital
Stripes
Slack Fund
Salesforce Ventures
Endeavor Catalyst
Georgian
About Oyster
Oyster is a remote-first HR platform enabling companies to hire, pay, and manage global teams in over 180 countries. The London-headquartered service handles compliant payroll, benefits administration, and contractor payments, integrating with tools like Slack and Greenhouse. Oyster supports more than 1,000 companies including GitLab and Remote, processing payroll for teams in 150 currencies. Founded in 2020 by Tony Jamous and Jack Mardack, it employs 200 staff across 50 countries and has raised over $100 million from investors like Y Combinator.
Founded
2020
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services, Subscription
Valuation
$1.2B (Nov 2024)
Oyster Valuation
Oyster is currently valued at $1.2B, based on its Series D in November 2024.
The $5M round was led by ServiceNow Ventures, with participation from Salesforce Ventures.
Oyster's valuation has grown 2.5x from $475M at its Series B in June 2021 to $1.2B in November 2024, across 4 priced rounds.
Oyster valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2024 | Series D | $1.2B |
| Sep 2024 | Series D | $1.2B |
| Apr 2022 | Series C | $1B |
| Jun 2021 | Series B | $475M |
Oyster Funding History
Oyster has raised a total of $288M across 6 funding rounds.
Oyster's first fundraising round was a $4M seed round in April 2020. The most recent completed round was a $5M Series D in November 2024.
Oyster funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2024 | Series D | ServiceNow Ventures (lead); Salesforce Ventures | $5M | $1.2B | Oyster is a global employment platform that enables companies to hire, pay, and manage distributed teams across 180 countries, simplifying compliance and cross-border hiring processes. The platform consolidates tools and insights for building sustainable global employment strategies, supported by a specialized customer experience team. Oyster raised $5 million in a Series D extension round in November 2024 led by ServiceNow Ventures, with participation from investors including Salesforce Ventures. This followed a $59 million Series D in September 2024 led by Silver Lake Waterman, bringing total funding to $291 million at a post-money valuation of $1.2 billion. The investment strengthens Oyster's position to scale operations and deliver innovative solutions for global hiring. ServiceNow Ventures joined strategic investors like HR Tech Investments (Indeed affiliate), LinkedIn, Okta, PayPal Ventures, Slack Fund, and others, affirming Oyster's role in transforming HR technology for remote and distributed workforces. |
| Sep 2024 | Series D | Silver Lake Waterman (lead); Georgian; Emergence Capital; G2 Venture Partners; Endeavor Catalyst; Stripes | $59M | $1.2B | Oyster is a global HR platform enabling companies to hire, pay, and manage remote teams across over 180 countries, with a focus on compliance, compensation intelligence, global payroll, visa sponsorships, and local insights. Founded in 2020 amid the rise of remote work, it positions itself as infrastructure for borderless team growth, competing with platforms like Deel. The company is B Corp-certified and has grown to over 550 employees in 60+ countries, practicing its own distributed model. On September 4, 2024, Oyster raised $59 million in a Series D funding round led by Silver Lake Waterman, with participation from Emergence Capital, Endeavor Catalyst, G2 Venture Partners, Georgian, and Stripes. This brings total funding to $286 million. The post-money valuation reached $1.2 billion, up slightly from $1 billion in the 2022 Series C ($150 million raise), avoiding a down round amid market pressures. CEO Tony Jamous noted 7x growth and improved margins over two years. Traction includes facilitating $107 million in payments to full-time employees and contractors in emerging markets in 2023 alone, with over 40% of platform users from those regions and hundreds of millions remitted overall that year. Funds will accelerate platform development and global expansion, building on recent product launches. This round reflects sustained demand for remote HR solutions as hybrid work solidifies, contrasting with peers like Deel valued at $12 billion. |
| Apr 2022 | Series C | Georgian (lead); Salesforce Ventures; LinkedIn; Avid Ventures; Emergence Capital; PeopleTech Partners; HR Tech Investments LLC; Slack Fund; Endeavor Catalyst; Base10 Partners; Okta Ventures; Stripes | $150M | $1B | Oyster is a global employment platform that enables companies to hire, pay, and manage remote teams worldwide, positioning itself as the fastest-growing solution in the HR tech space for distributed workforces. On April 20, 2022, Oyster raised $150 million in a Series C funding round led by Georgian, with participation from Avid Ventures, Base10 Partners, Emergence Capital, Endeavor Catalyst, HR Tech Investments LLC, LinkedIn, Okta Ventures, PeopleTech Partners, Salesforce Ventures, Slack Fund, and Stripes, bringing total funding to $227 million at the time. The round valued Oyster at over $1 billion, establishing it as a unicorn less than two years after launch and one of the few B Corporations to achieve this milestone. The funding was intended to accelerate development of its global employment platform amid surging demand for remote workforce management. In 2021, Oyster reported revenue growth of over 20x and expanded the number of team members employed on its platform by 17x, while attracting over 20,000 job applications in Q1 2022 due to its mission-driven, fully distributed culture. Oyster operates in a competitive HR tech landscape focused on global payroll and remote hiring, bucking market down-round trends by maintaining and later increasing its valuation to $1.2 billion in a 2024 Series D raise of $59 million, with total funding reaching $286 million. The company emphasizes sustainable growth, improved margins, and over 7x expansion in two years post-Series C. |
| Jun 2021 | Series B | Stripes (lead); Avid Ventures; Emergence Capital; Slack Fund | $50M | $475M | Oyster is a global HR platform that enables companies to hire, employ, and pay talent worldwide compliantly, handling contractual, tax, and regulatory details across multiple countries. Founded in 2020 by Tony Jamous and Jack Mardack, it targets distributed workforces amid rising remote work demand. On June 22, 2021, Oyster raised $50 million in a Series B round led by Stripes, with participation from Emergence Capital, The Slack Fund, and new investor Avid Ventures, bringing total funding to over $74 million following a $20 million Series A in February 2021 led by Emergence Capital. The Series B valued Oyster at a $475 million post-money valuation, reflecting six times growth from its prior round and 'exponential' business expansion. By mid-2021, Oyster reported its team growing 5X and customer base 8X so far that year, with revenue increasing 8X since January from distributed HR offerings like multiple employment modes. It served 80 large businesses filling knowledge worker roles globally. Funds from the Series B aimed to scale operations, enter new markets, and fuel growth in hiring remote talent. This positioned Oyster among top global HR platforms. Subsequent rounds included a $150 million Series C in April 2022 at over $1 billion valuation led by Georgian, with investors like Salesforce Ventures and PayPal Ventures, where 2021 revenue grew over 20X and team members employed via platform 34X. |
| Feb 2021 | Series A | Emergence Capital (lead); Joe Thomas; Slack Fund; s16vc; Acadian Ventures; Connect Ventures | $20M | - | Oyster is a global employment platform that enables companies to hire, pay, and manage remote workers compliantly worldwide, with a focus on emerging markets by employing workers on clients' behalf. Founded in 2019 and headquartered in London and San Francisco, it positions itself as a mission-driven B Corporation supporting distributed work. The company experienced rapid growth, including revenue increasing over 20x in 2021 alongside a 17x to 34x rise in team members employed on its platform, attracting over 20,000 job applications in Q1 2022. Customers in over 180 countries used the platform, paying more than $200M annually to global talent, 25% in emerging economies, with a team of 500 employees across 60 countries featuring 60% females and high engagement. In 2021, Oyster conducted multiple funding rounds: a Series A in February, Series B in June raising $50M at $475M valuation, and reached unicorn status with a $150M Series C in April 2022 at over $1B valuation led by Georgian, with participation from Salesforce Ventures, LinkedIn, Base10 Partners, Okta, Endeavor Catalyst, and existing backers including Emergence Capital, Slack Fund, and Stripes, bringing total raised to $227M at that point. The Series C funded platform development, People Ops investments, and social mission advancement. Subsequent rounds included a $59M Series D in 2024 at $1.2B valuation led by Silver Lake Waterman, increasing total funding to $286M-$288M. Oyster competes in HR tech with players like Deel (valued at $12B), maintaining valuation stability amid market down rounds through 7x growth and margin improvements over two years. |
| Apr 2020 | Seed | Connect Ventures (lead); Initial Capital; Sten Tamkivi; Trevor Healy; Sorenson Capital; Taavet Hinrikus; Kima Ventures; Eric Nadalin | $4M | - | Oyster raised $4.2 million in its seed round on April 21, 2020, led by Connect Ventures with participation from Eric Nadalin, Initial Capital, Kima Ventures, Sorenson Capital, Sten Tamkivi, Taavet Hinrikus, and Trevor Healy. The funding supported development of its initial global HR and employee benefits platform to streamline international hiring, payroll compliance, and benefits like healthcare. Oyster provides compliant payroll services across countries and offers employee perks. The company launched in January 2020 as a SaaS product addressing friction in international hiring, especially amid rising remote work post-COVID-19. Connect Ventures highlighted Oyster's role in enabling companies and talent to access global opportunities. Oyster later achieved unicorn status with a Series C round of $150 million at over $1 billion valuation in April 2022, led by Georgian, following Series A ($20 million, February 2021) and Series B ($50 million, June 2021). Total funding reached $288.2 million across multiple rounds by 2024. |
Who has invested in Oyster?
26 investors have backed Oyster across its funding rounds, including Emergence Capital, Stripes, Slack Fund, Salesforce Ventures, Endeavor Catalyst and Georgian.
Lead investors include ServiceNow Ventures, Silver Lake Waterman, Georgian, Stripes, Emergence Capital and 1 other investor.
Oyster Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Feb 2021 | ||
| 3 | Participant | Feb 2021 | ||
| 3 | Lead | Jun 2021 | ||
| 2 | Participant | Apr 2022 | ||
| 2 | Lead | Apr 2022 | ||
| 2 | Participant | Jun 2021 | ||
| 2 | Participant | Apr 2022 | ||
| 2 | Lead | Apr 2020 | ||
| 1 | Participant | Apr 2020 | ||
| 1 | Participant | Apr 2020 | ||
| 1 | Lead | Nov 2024 | ||
| 1 | Participant | Apr 2022 | ||
| 1 | Participant | Feb 2021 | ||
This data is available for Pro users. Sign up to see all 26 Oyster investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Oyster
Oyster has acquired 1 company to date.
Last acquisition by Oyster was on May 27th 2020. Oyster acquired Carrom for undisclosed valuation.
Latest Acquisitions by Oyster
| Description | Carrom is a remote hiring platform assisting companies in employing full-time workers in over 100 countries without handling local payroll, taxes, or compliance. The service offers employer-of-record solutions, contractor management, and HR support for global team expansion. |
| HQ Country | |
| HQ City | Berlin |
| Deal Date | 27 May 2020 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Oyster acquisitions and their M&A valuation multiples. Start Free Trial | |
Oyster Competitors
Oyster competitors include listed companies like Freee and ATOSS Software, and private ones like Creatio, Employment Hero, Gem and Nowsta.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.2B | - | ||
| Private | $213M | - | $1.2B | 5.6x | ||
| Private | - | - | $1.2B | - | ||
| Private | - | - | $1.2B | - | ||
| Publicly listed | $214M | $6M | $1.5B | 4.8x | ||
| Publicly listed | $218M | $84M | $1.7B | 6.4x |
Oyster Public Comps
Oyster is still privately-owned, but its public comps include Freee, ATOSS Software, Hilan, Teamshares, Nordtech Group, AdvancedAdvT, Beisen Holding, Zaggle Prepaid Ocean, Asure Software and DHI Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $214M | $6M | 6.3x | 4.8x | 237.7x | 65.4x | |||
| $218M | $84M | 7.0x | 6.4x | 18.2x | 17.1x | |||
| $993M | $154M | 1.8x | - | 11.9x | - | |||
| $472M | ($23M) | 1.7x | 1.4x | (35.0x) | 33.2x | |||
| $72M | $15M | 5.1x | - | 25.2x | - | |||
| $72M | $13M | 2.5x | 2.4x | 14.1x | 8.9x | |||
| $165M | $2M | 0.3x | 0.3x | 22.3x | 5.2x | |||
| $199M | $20M | 1.0x | 1.0x | 10.4x | 10.7x | |||
This data is available for Pro users. Sign up to see all Oyster competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Oyster
| When was Oyster founded? | Oyster was founded in 2020. |
| Where is Oyster headquartered? | Oyster is headquartered in Charlotte, NC, United States. |
| Is Oyster publicly listed? | No, Oyster is a private, VC-backed company. |
| What is Oyster's valuation? | Oyster was last valued at $1.2B in its Series D in November 2024. |
| How much funding has Oyster raised? | Oyster has raised $288M across 6 funding rounds. |
| What was Oyster's last funding round? | Oyster's last funding round was a $5M Series D in November 2024, led by ServiceNow Ventures. |
| Who are Oyster's investors? | Oyster's investors include Emergence Capital, Slack Fund, Stripes, Salesforce Ventures, Georgian, Avid Ventures, Endeavor Catalyst, Connect Ventures, Initial Capital, Sten Tamkivi and 16 others. |
| Which companies are comparable to Oyster? | Companies comparable to Oyster include Creatio, Employment Hero, Gem, Nowsta, Freee and ATOSS Software. |
| How many companies has Oyster acquired? | Oyster has acquired 1 company, including Carrom. |
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