Remote HR platform Oyster announces $50 million funding round

Oyster — a platform that enables fully remote companies to hire full-time workers and contractors around the world on a compliant basis — announced a $50 million series B funding round. With this new round Oyster will expand its HR platform to more countries among other things.

The round was led by New York-based venture capital and private equity firm Stripes with the continued participation of existing investors Emergence Capital and The Slack Fund. Avid Ventures took part as well.

“The transition to remote work is one of the most fundamental macro trends in business today and Covid-19 accelerated that transition by 10 years,” said Saagar Kulkarni, partner at Stripes. “Oyster makes it seamless for any company to hire the best person for each job, removing location as a barrier.”

Oyster, which was founded in January 2020 by Tony Jamous and Jack Mardack, announced a $20 million series A funding round in February. While Oyster serves fully remote companies, it is itself a fully remote company as well.

The original article can be found at: Staffing Industry Analysts