Oyster raises $59 million in Series D funding to enhance its global employment platform

Oyster, a San Francisco-based HR tech company, raised $59 million in Series D funding to further its mission of simplifying global hiring and payroll management.

The funding round was led by Silver Lake Waterman, with contributions from existing investors, including Emergence Capital, Stripes, Georgian, G2 Venture Partners, and Endeavor Catalyst.

The latest investment values the company at $1.2 billion, bringing its total funding to date to $286 million.

Oyster offers a digital platform designed to help businesses hire, pay, and manage distributed teams across the globe. Its platform simplifies the complexities of international compliance, payroll, and employee benefits, enabling companies to build global teams with ease. Over the past year, it has introduced features like Global Payroll, Visa Sponsorships, and a Salary Insights tool to support businesses in navigating international hiring challenges.

With the new funding, Oyster intends to accelerate its platform development efforts, enhance compliance tools, and strengthen its capabilities for attracting and retaining talent. The company also plans to expand its impact on enabling people-first hiring worldwide.