News: Oyster announces funding From PayPal Ventures and HR Tech Investments

HR Technology

Oyster announces funding From PayPal Ventures and HR Tech Investments

The investments are an extension of Oyster’s recent Series B round, bringing total funding raised to date to over $75 MN.
Oyster announces funding From PayPal Ventures and HR Tech Investments

Oyster, a startup and platform that helps companies through the process of hiring, onboarding and then providing contractors and full-time employees in the area  of “knowledge work”, has announced investments from PayPal Ventures and HR Tech Investments, an affiliate of Indeed. It has also launched ‘Oyster for Impact’ — a program designed to help mission-driven companies build thriving distributed teams and have a positive impact on the world.

‘Oyster for Impact,’ which is open to certified nonprofits and benefit corporations across the globe, offers members a discount* on Oyster’s distributed HR tools, free enrollment in the company’s educational program Oyster Academy, and unique opportunities to showcase their work at Oyster’s annual conference.

The launch of ‘Oyster for Impact’ is the latest milestone in Oyster’s mission to create a more equal world by making it possible for companies everywhere to hire people anywhere — a pursuit that is expected to be accelerated by newly announced investments from PayPal Ventures and Indeed’s HR Tech Investments. The investments are an extension of Oyster’s recent Series B round, bringing total funding raised to date to over $75 MN.

“We are delighted to welcome PayPal Ventures and Indeed’s HR Tech Investments as investors in Oyster,” said Tony Jamous, CEO of Oyster. “These two global organizations share our vision for a future of equal opportunities for everyone, everywhere. In keeping with that vision, we are excited to deepen our work with other mission-driven companies through ‘Oyster for Impact.’ We hope that the membership benefits we’ve announced today will go a long way towards helping more nonprofits and B corporations unlock the commercial, environmental, and societal advantages of distributed work.”

“We share Oyster’s vision of a future where everyone can participate in the global economy,” said Ashish Aggarwal, director, PayPal Ventures. “We are excited to be investing at such an important moment for the company — and are looking forward to working with the Oyster team as they use their innovative platform to support companies around the world in benefiting from a distributed workforce.”

Earlier this year in Feburary, the company closed a Series A round of $20 MN and it was reported that Oyster was already working in 100 countries, and CEO and Tony Jamous (who co-founded the company with Jack Mardack) said in an interview that the plan is to expand that list of markets, and also bring in new services, particularly to address the opportunity in emerging markets to hire more people.

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Topics: HR Technology, #FundingAndInvestment

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