Oyster® Announces Funding From PayPal Ventures and HR Tech Investments as It Launches Discounts Program for Mission-Driven Companies
Oyster for Impact ' members can get discounts on Oyster products, exclusive access to educational resources, and opportunities to showcase their work at Oyster's events
LONDON and SAN FRANCISCO, Sept. 21, 2021 /PRNewswire/ -- Oyster®, the company that makes hiring talented people around the world compliant, human, and delightful, has today 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 million.
"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."
Eligible companies can enroll in 'Oyster for Impact' by providing a copy of their 501(c)(3) determination letter, benefit corporation certification, or equivalent documentation by December 31, 2021. Once their application is approved, they will be able to hire one team member for free for 12 months and get 30% off Oyster's global employment platform for up to 10 full-time team members. These discounts apply when companies hire people who are based in one of Oyster's top hiring destinations.
To learn more about 'Oyster for Impact,' visit www.oysterhr.com/oyster-for-impact
*Restrictions apply
About Oyster
Oyster is on a mission to create a more equal world by making it possible for companies everywhere to hire people anywhere. The company's HR platform for globally distributed companies enables growing organizations to give valued international team members the experience they deserve, without the usual headaches or expense. Oyster empowers hiring anywhere in the world with reliable, compliant payroll and great local benefits and perks. Founded in January 2020 by Tony Jamous and Jack Mardack, Oyster is itself a fully remote company with a diverse, globally distributed team.
If you'd like to learn about how to build a successful distributed team, visit Oyster Library.
If you're looking for your next career opportunity, Oyster is hiring!
Contact: Tim Warner, timw@vsc.co
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