Series A Investment Fuels Hot Company Spurring “Work-from-Anywhere” Future
LONDON and SAN FRANCISCO, Feb 2, 2021 /CNW/ — Oyster, the HR platform for globally distributed companies, today announced it has completed a $20 million Series A investment led by Emergence Capital, less than a year after raising a $4.2Mseed round. Spurred by the rapid acceleration of distributed working during the pandemic, Oyster has grown quickly by enabling companies to manage growing and geographically distributed workforces in over 100 countries.
Renowned SaaS investor Jason Green, who has led funding for Zoom, Salesforce, Bill.com, and others, is the lead investor. Additional investors include the Slack Fund and Connect Ventures. The investment will accelerate Oyster’s rapid growth and support its mission of enabling people to work from anywhere.
There are now massive opportunities for remote-centric companies to attract and retain great global talent, and for the SaaS companies that enable them. Oyster’s category-defining SaaS HR platform supports the changing needs of HR in the new work-from-anywhere world—by removing the need to deal with local payroll and employment complexity, by speeding up traditional international hiring, onboarding and by providing robust benefits for employees and contractors alike- all from one SaaS platform.
By closing the geographic gap between great job opportunities and talented individuals, Oyster is addressing many of the wrongs of modern society, including unequal distribution of wealth and talent, lack of opportunity for career progression, burnout, and poor work-life balance. Oyster was recently granted B-Corporation certification with a pending status. The company has published a social impact thesis that can be found here.
“We invest in people who change the way the world works,” said Emergence Founder Jason Green. “Remote work is here now and here to stay. Oyster makes hiring and onboarding the best remote talent in the world easy, fast, and efficient. Oyster has the best team and product to dominate this emerging category in the future of work and we are thrilled to be partnering with them.”
Said Tony Jamous, Oyster CEO, “The move to work from anywhere is good news to the world, despite a gloomy 2020. We have aligned our mission with our growth, and it is paying off. We were fortunate to be able to raise our Seed and Series A during the pandemic, remotely.”
Said Jason Spinell, Director of the Slack Fund, “At the Slack Fund, we’re focused on investing in the next wave of software companies building the future of work. Oyster is addressing the challenges that come with employing a globally distributed team, enabling companies to expand their potential talent pool and hire based on what matters most to them. The ability to hire from anywhere is necessary to embrace a remote-first future.”
Added Conner Forrest, Senior Research Analyst at 451 Research, part of S&P Global Marketing Intelligence, “Companies are beginning to think more strategically about global talent, but they first need fundamental enablement to hire globally. As long-term and permanent remote work policies grow, and companies consider eliminating physical office space due to COVID-19, the need for tools that support a mass-scale shift to remote work is great.” [1]
About Oyster
Oyster is the HR platform for globally distributed companies. It lets growing companies give valued international team members the experience they deserve, without the usual headaches or the expense. Oyster enables hiring anywhere in the world, with reliable, compliant payroll, and great local benefits and perks. Founded in 2019 by Tony Jamous and Jack Mardack, Oyster is itself a fully remote company with a diverse, globally-distributed team. Join us: http://oysterhr.com/careers
About Emergence Capital
Emergence is the leading venture capital firm focused on early-stage enterprise software companies. Its mission is to be the most important partner to the companies that are changing the way the world works. For more information, visit https://www.emcap.com.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
