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Oyster
Enterprise Software
Oyster is a global employment platform (an "employer of record" provider) that lets companies hire and pay employees in supported countries through an employer-of-record structure.
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Oyster was founded in 2020 by Tony Jamous and Jack Mardack, entering the "employer of record" (EOR) market at a moment when remote work had become dramatically more normalized following the COVID-19 pandemic, creating strong demand from companies wanting to hire talented employees located in countries where the hiring company itself has no local legal entity, a situation that traditionally required either setting up a costly and time-consuming local legal subsidiary, or hiring the person as an independent contractor, an arrangement that carries meaningful legal risk of worker misclassification in many jurisdictions if the actual working relationship resembles standard employment more than genuine independent contracting. Oyster's platform lets client companies hire employees in other countries by having Oyster itself serve as the legal employer of record in that employee's country, handling local payroll, tax withholding, statutory benefits, and employment law compliance specific to that country's labor regulations, while the actual day-to-day work relationship, management, and role remain with the client company, letting businesses access global talent pools without needing to navigate the complex, country-specific legal and administrative requirements of establishing their own local employment presence in every country where they want to hire. This employer-of-record model has grown substantially as an alternative to traditional international expansion methods for companies, particularly technology companies, wanting to hire specific talented individuals in a given country without the time and cost of establishing a full local corporate entity, which can take months and represents a significant ongoing administrative and compliance burden even after being established. Oyster has particularly emphasized its mission around expanding access to global employment opportunities, arguing that this kind of infrastructure meaningfully benefits talented workers in countries that might otherwise have more limited access to well-paying international employment opportunities with foreign companies. The company's customers span businesses of many sizes, particularly technology and remote-first companies, seeking to hire internationally without establishing local legal entities in every country. Oyster has raised substantial venture funding from investors including Tiger Global, Bond, and Kleiner Perkins, reaching unicorn status, competing with other employer-of-record providers including Deel and Remote.
FOR QUALIFIED INSTITUTIONAL AND ACCREDITED INVESTORS ONLY: Under federal securities laws, private market investments on this platform are available exclusively to Institutional and Accredited Investors. Verification of status required before investing. Private investments involve significant risks including illiquidity, potential loss of principal, and limited disclosure requirements. "Augment" refers to Augment Markets, Inc. and its affiliates. Augment Markets, Inc. is a technology company offering software and data services, not a bank or financial institution. Cash Accounts are provided by Modern Treasury Corp. financial institution partners and through Augment's technology. Augment does not act as a money services business, provide money transmission, or serve as a custodian of funds. Funds held in your Cash Account are not FDIC insured unless expressly disclosed. Full terms available in the Augment Cash Account Agreement. Brokerage services are offered through Augment Capital, LLC, an affiliated broker-dealer and member FINRA/SIPC. "Investment accounts" are not brokerage accounts and do not hold customer funds or securities. Investment advisory services are offered through Augment Advisors, LLC, an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Neither Augment Advisors, LLC nor Augment Capital, LLC provide legal or tax advice; consult your attorney or tax professional regarding your specific situation. For additional information, please refer to Augment Advisors, LLC's Form ADV Part 2A (Firm Brochure) and FINRA BrokerCheck.
