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Oyster, a distributed talent enablement platform provider dedicated to fixing the broken international hiring model, raised $4.2M in a seed round of financing
Fremont, CA: Oyster, a distributed talent enablement platform provider dedicated to fixing the broken international hiring model, raised $4.2M in a seed round of financing. London-based Connect Ventures led the round of financing with participation from Sorenson Ventures, Kima Ventures, and Transferwise Co-founder and Chairman, Taavet Hinrikus, among others. Oyster allows companies to easily hire, manage payroll, and give local benefits to their full-time employees anywhere across the globe.
Today, would-be global leaders can't afford to neglect the complexity of the challenges international hiring put forth. Creating local entities is costly, takes time, and creates administrative overhead, in addition to ongoing compliance risk. Meanwhile, in-demand remote workers are seeking the security and perks of full-fledged employment, which may not be available to them locally. Oyster's SaaS platform makes it easy for companies to extend full-time, full-fledged job, with all the benefits and perks, to their valued workers anywhere in the world.
"We are excited to partner with Tony and Jack at such a decisive moment for the future of work," said Pietro Bezza, General Partner of Connect Ventures. "In the wake of COVID-19, work from home is going to be even more pervasive, and both companies and individuals are going to want to look to the whole planet for talent and job opportunities, respectively. But the experience of international hiring is currently broken. Oyster is pairing the infrastructure and software necessary to reduce the friction, building a SaaS product that talents and employers will love."
"As an entrepreneur having built global businesses and hired teams in over 50 countries, I've been shocked by the level of complexity and cost required to hire people in other countries," said Tony Jamous, co-founder and CEO, Oyster. "The COVID-19 outbreak has led to more companies adopting a remote-work model than ever before. Now that we've been thrown into the deep end, we expect companies to embrace a fully remote workforce moving forward. We founded Oyster to break down logistical boundaries and make it possible for companies to hire top talent, regardless of location."
Oyster's simple, easy-to-use SaaS platform is designed to enable employers to more seamlessly manage hiring, benefits, and payroll. The company is opening early access to beta customers.
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