Company Market Research Report: Oyster HR

Company Overview

Name: Oyster HR

Mission: To create a more equal world by making it possible for companies to hire people anywhere.

Founded: 2020, by Jack Mardack and Tony Jamous

Key People:

Tony Jamous: CEO and Co-founder

Jack Mardack: Impact Officer & Co-founder

Mark Frein: Chief Operating Officer

Shannon Lincoln: Chief Financial Officer

Sam Schofield: Chief Revenue Officer

Miranda Zolot: General Counsel

Headquarter: No information is available

Number of Employees: 648+

Revenue: No information is available

Notable For:

Certified B Corp

Recognized as a leader in global employment platforms

Known for its comprehensive, automated global employment solution

Products

Oyster's Automated Global Employment Platform

High-level Description

Oyster’s platform addresses global employment needs by enabling companies to hire, pay, manage, and care for team members in over 180 countries without needing to establish local entities. This platform facilitates compliance with local laws, offers support for both full-timers and contractors, and provides deep local knowledge.

Key Features

Global Compliance: Ensures hiring processes comply with local laws

Automated Workflows: Automates from hiring to offboarding

Employee-centric Solutions: Competitive offers based on local insights

Integrations: Connects with various tools and reduces hiring time

Global Payroll: Manages payroll and benefits in multiple currencies

Deep Local Intelligence: Access to local insights and expertise

Employment Cost Calculator: Calculates costs of employment globally

Visa Sponsorship: Supports visa applications in over 60 countries

Additional Products and Solutions

Hire Contractors and Employees: Enables hiring in compliance with local regulations.

Pay Global Teams: Streamlined international payroll in 140+ currencies.

Offer Rewards: Design and manage benefits and equity for global teams.

Convert Contractors: Manage conversion of contractors to full-time employees.

Source Talent: Partner with solutions to find and hire globally.

Recent Developments

Series D Funding

Amount Raised: $59M

Date: September 4, 2024

Objective: To enhance compliance and compensation intelligence infrastructure for driving global growth.

Impact: This funding round emphasizes Oyster’s ongoing commitment to revolutionizing global employment systems, particularly in emerging markets.

B Corp Certification

Oyster achieved B Corp Certification, making it one of only 20 unicorn companies to do so.

The certification aligns with their mission-driven ethos and ensures accountability to social and environmental impact.

Impact on Emerging Markets

Significant focus on hiring talent from emerging markets, with 40% of customer team members based in these regions.

In 2023, facilitated $107M in payments to employees and contractors in emerging markets.

Expansion of Key Services

Enhancement and scaling of Global Payroll and Visa Sponsorship products to support greater talent mobility.

Continual development of deep country-specific intelligence to assist companies in navigating local employment landscapes.

Enhanced Customer Experience

Customer Satisfaction: 90% satisfaction rate due to the streamlined and supportive onboarding processes.

Compliance Infrastructure: Advanced infrastructure ensuring legal compliance in 180+ countries.

Automation: Implementation of AI tools and virtual assistants to guide hiring processes.

New Partnerships and Integrations

Expanded integration capabilities with popular HR and productivity tools like Slack, BambooHR, and Workday to improve workflows and reduce manual tasks.

Collaborations with partners like Greenhouse and Airwallex to offer comprehensive solutions to clients.

This report provides a detailed overview of Oyster HR's operations, product offerings, and recent achievements, emphasizing its role in revolutionizing global employment with a strong dedication to compliance and social impact.