- People management platform Lattice announced recently that it raised $25 million in a Series C round of funding led by Tiger Global
People management platform Lattice recently announced it raised $25 million in a Series C round of funding led by Tiger Global. This round of funding values Lattice at about $200 million, according to TechCrunch. And this funding round comes just 6 months after Lattice closed a $15 million Series B led by Shasta Ventures. Lattice was actually not actively raising funding, but they were approached by John Curtius of Tiger Global with favorable terms.
This round of funding comes on the heels of Lattice hitting its strong quarter in history. And the company also more than doubled user counts since the beginning of the year. With this round of funding, the company is planning to further accelerate its category-leading growth.
How does Lattice work? Lattice’s platform helps leaders build high-performing teams by equipping managers with tools to drive growth and productivity through continuous performance management. And Lattice also provides teams with insights to act on real-time engagement feedback that drive company-wide impact. Ever since Lattice launched in 2016, the company has signed more than 1,400 leader companies as its customers such as Slack, Glossier, Reddit, Cruise, and Coinbase.
“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 Lattice CEO and co-founder Jack Altman. “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.”
To drive business success and employee engagement, employee performance is necessary. As employees become more engaged, they become productive and stay at the company longer. Plus they treat customers better and become more willing to go the extra mile for the business.
However, the majority of employees are not engaged at work. Harvard Business Review estimates that only 16% of employees are engaged, but Gallup puts the number closer to 34%.
Founded in 2015 by Altman and Eric Koslow, Lattice creates processes to provide real-time feedback and coaching. And with Lattice, managers are able to drive their employees’ performance, engagement, and growth.
“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,” added 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 way of building continuous people management programs is by incorporating feedback into the daily lives of employees. And Lattice’s integration with Slack has been proven to be effective in driving feedback across an organization. This platform has been so effective that Slack adopted Lattice as its core people management solution.
Lattice also recently released its praise wall feature — which creates a space for feedback in the physical space of an organization. And now companies are able to feature employee wins on displays around the office so top-performers feel valued.
With this round of funding, Lattice is going to invest in product development to continue giving people leaders more solutions to develop engaged and high-performing teams.
