Lattice Raises $25M in Series C
SAN FRANCISCO, CA, People management platform announced $25 million in Series C funding today in a round led by Tiger Global.
Lattice, the people management platform, announced $25 million in Series C funding today in a round led by Tiger Global. This round comes on the heels of the strongest quarter in company history, more than doubled user counts since the beginning of the year, and its funding in April, which the company is using to further accelerate its category-leading growth.
Lattice's platform helps people leaders build high-performing teams by equipping managers with tools to drive growth and productivity through continuous performance management. Lattice also provides People teams with insights to act on real-time engagement feedback that drive company-wide impact. Since its launch in 2016, Lattice has quickly built a customer base of over 1,400 leading companies including Slack, Glossier, Reddit, Cruise, and Coinbase.
Employee performance drives business success and employee engagement is the key to continuous performance. When employees are engaged, they are more productive, stay longer, treat customers better and more willing to go the extra mile for the business. But the majority of employees are not engaged at work. While the polls vary --- Harvard Business Review says only 16% of employees are engaged, whereas Gallup puts the number closer to 34% -- it's clear that the majority of employees are not engaged at work and this impacts their ability to perform.
By creating processes to provide real-time feedback and coaching, managers are able to drive their employees' performance, engagement, and growth through Lattice. "People development is crucial to any business' success but especially important for Take-Two, where the competition is fierce to attract the world's best talent," said Take-Two's Senior Director of People & Development, Jessica Jacobson, "Lattice has helped us build a stronger people management program that empowers managers to give employees the feedback they need to grow their careers, and ultimately build a culture that attracts and retains top talent."
Lattice's secret to building continuous people management programs is by incorporating feedback into the daily lives of employees. Lattice's integration with Slack has proven to be extremely effective in driving feedback across an organization. It's so effective that Slack has adopted Lattice as its core people management solution. Going a step further to emphasize the importance of feedback, Lattice has recently released its praise wall feature, which creates a space for feedback in the physical space of an organization. Now companies can actually feature employee wins on displays around the office, making top-performers feel valued.
While most employees don't love HR platforms, it's clear that Lattice's approach has started to change their minds. On the independent review site, G2 Crowd - where Lattice holds the #1 ranking in both highest rated and easiest-to-use categories - real employees describe Lattice as "great for employee connection," an "amazing tool for employee growth" and "easy to use." (Read the reviews here)
With this new round of funding, Lattice will invest in product development to continue giving people leaders more solutions to develop engaged, high-performing teams. "We've seen tremendous traction in connecting performance and engagement software and the value that this connection provides to People leaders in both understanding why employees are not engaged, but also giving them the tools to drive people management across the organization," said Jack Altman, CEO and Co-Founder of Lattice, "Now we're looking into ways to empower people leaders to really help employees manage their career growth. When companies are able to align employee growth with company growth, everyone wins."
Lattice is the people management platform that enables People Leaders to develop engaged, high-performing teams. By combining continuous performance management and employee engagement in one solution, HR and People teams get powerful, real-time analytics that lead to actionable insights turning managers into leaders, employees into high-performers, and companies into the best places to work.
Based in San Francisco, Lattice serves over 1,400 customers around the world like Slack, Glossier, Cruise, and Reddit and is backed by Tiger Global, Shasta Ventures, Thrive Capital, Khosla Ventures, Y Combinator, and Slack Fund.
About Tiger Global
Tiger Global Management, LLC is an investment firm that focuses on private and public companies in the global Internet, software, consumer, and payments industries.
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