Oyster secures $20M as Funding for its HR Solution

It is becoming increasingly popular for businesses to work remotely. During the pandemic, businesses around the world realized the importance of remote working. It was remote working that ensured companies were able to achieve their targets in a timely manner. As remote working evolved, organizations became more aware of the need to manage these distributed workforces as they evolved.

In most cases, organizations recruit people from around the world. In other words, they have to deal with a diverse workforce. It is for this reason that companies are increasingly utilizing human resources technology to manage their diverse remote teams efficiently and effectively. As HR technology developed to manage diverse workforces, several HR platforms were introduced at the same time.

The only company that has been able to stay relevant in the face of all the turmoil has been Oyster. Recently, Oyster announced $20 million in its series A round of funding to optimize its business operations. This startup is a distributed workforce HR platform. With the help of this platform, modern-day organizations can easily hire, onboard, and provide skilled and talented contractors with the opportunity to become full-time employees.

Among the main highlights of Oyster is that it offers many services to its users, such as payroll, benefits, salary management, etc. Despite being a start-up, Oyster is already available in more than 100 nations around the world. Moreover, the CEO of Oyster, Tony Jamous, is already setting higher goals. In a recent interview, he stated that Oyster would expand to more countries in the future.

In addition, he also stated that Oyster would be offering new services to ensure that it is capable of managing distributed workforces effectively in the future. Oyster will use the opportunities in emerging markets to recruit more people. At the moment, Oyster does not source candidates for your company, nor does it interview and evaluate potential employees.

A number of experts predict that Oyster may come up with new features in these areas in the future. In the future, Oyster hopes to become a one-stop-shop for HR services. Additionally, Oyster’s CEO stated that the company’s main goal is to focus on emerging economies. Emergence Capital is the leader in the funding race for Oyster, which intends to automate a majority of HR managers’ strenuous tasks in emerging economies. In terms of Oyster’s funding, Emergence Capital has led the way.

As you might know, Emergence Capital raised funds for Zoom, Salesforce, and others, and the Slack Fund and a London-based agency are also participating in raising funds for Oyster. With the help of these companies, Oyster can experience rapid growth. As a result, it will assist Oyster in fulfilling its mission of enabling individuals to work from the comfort of their homes.