US-headquartered human resources (HR) software provider Oyster raised $20m in series A funding yesterday from investors including enterprise communication platform Slack’s investment vehicle, Slack Fund.
Emergence Capital led the round, which included fellow venture capital firm Connect Ventures and which came after Connect Ventures led a $4.2m seed round in April 2020 that also featured Sorenson Ventures, Kima Ventures and angel investor Taavet Hinrikus.
Oyster is the creator of an HR software platform designed for globally distributed businesses, helping them manage payroll and provide local benefits and perks for an international workforce.
Slack Fund director Jason Spinell said: “At the Slack Fund, we are focused on investing in the next wave of software companies building the future of work.
“Oyster is addressing the challenges that come with employing a globally distributed team, enabling companies to expand their potential talent pool and hire based on what matters most to them. The ability to hire from anywhere is necessary to embrace a remote-first future.”
