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

Oyster Overview

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

United StatesCharlotte, NC

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

Oyster valuation by funding round
DateStageValuation
Nov 2024Series D$1.2B
Sep 2024Series D$1.2B
Apr 2022Series C$1B
Jun 2021Series 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

Oyster funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2024Series DServiceNow Ventures (lead); Salesforce Ventures$5M$1.2BOyster 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 2024Series DSilver Lake Waterman (lead); Georgian; Emergence Capital; G2 Venture Partners; Endeavor Catalyst; Stripes$59M$1.2BOyster 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 2022Series CGeorgian (lead); Salesforce Ventures; LinkedIn; Avid Ventures; Emergence Capital; PeopleTech Partners; HR Tech Investments LLC; Slack Fund; Endeavor Catalyst; Base10 Partners; Okta Ventures; Stripes$150M$1BOyster 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 2021Series BStripes (lead); Avid Ventures; Emergence Capital; Slack Fund$50M$475MOyster 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 2021Series AEmergence 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 2020SeedConnect 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

Investors in Oyster by funding rounds participated
InvestorHQRoundsRoleFirst check
Emergence CapitalUnited StatesSan Francisco, CA4LeadFeb 2021
Slack FundUnited StatesSan Francisco, CA3ParticipantFeb 2021
StripesUnited StatesNew York City, NY3LeadJun 2021
Salesforce VenturesUnited StatesSan Francisco, CA2ParticipantApr 2022
GeorgianCanadaToronto2LeadApr 2022
Avid VenturesUnited StatesUnited States2ParticipantJun 2021
Endeavor CatalystUnited StatesNew York City, NY2ParticipantApr 2022
Connect VenturesUnited KingdomLondon2LeadApr 2020
Initial CapitalChinaBeijing1ParticipantApr 2020
Sten TamkiviUnited StatesSan Francisco, CA1ParticipantApr 2020
ServiceNow VenturesUnited StatesUnited States1LeadNov 2024
LinkedInUnited StatesSan Francisco, CA1ParticipantApr 2022
Joe ThomasUnited StatesAtlanta, GA1ParticipantFeb 2021

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Acquisitions 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

Carrom
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 CountryGermany
HQ City
Berlin
Deal Date27 May 2020
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Oyster Competitors

Oyster competitors include listed companies like Freee and ATOSS Software, and private ones like Creatio, Employment Hero, Gem and Nowsta.

Public and private companies comparable to Oyster
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CreatioUnited StatesBoston, MAPrivate--$1.2B-
Employment HeroAustraliaSydneyPrivate$213M-$1.2B5.6x
GemUnited StatesSan Francisco, CAPrivate--$1.2B-
NowstaUnited StatesNew York City, NYPrivate--$1.2B-
FreeeJapanJapanPublicly listed$214M$6M$1.5B4.8x
ATOSS SoftwareGermanyGermanyPublicly listed$218M$84M$1.7B6.4x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Freee$214M$6M6.3x4.8x237.7x65.4x
ATOSS Software$218M$84M7.0x6.4x18.2x17.1x
Hilan$993M$154M1.8x-11.9x-
Teamshares$472M($23M)1.7x1.4x(35.0x)33.2x
Nordtech Group$72M$15M5.1x-25.2x-
AdvancedAdvT$72M$13M2.5x2.4x14.1x8.9x
Beisen Holding$165M$2M0.3x0.3x22.3x5.2x
Zaggle Prepaid Ocean$199M$20M1.0x1.0x10.4x10.7x

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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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