Workforce management platform Lattice said it turned in “breakthrough growth” during 2021’s first half. Employers of all sizes are taking advantage of solutions as they attempt to improve their people practices and experience, the company said.
Lattice said it achieved several milestones during the period. They include
- In business performance: Lattice closed its Series E fundraising round in February, at $60 million. That brought the company’s valuation to more than $1 billion. The company said the funds would be used to expand its team to pursue product development and geographic expansion. At the end of the second quarter, Lattice reported over 100% year-over-year growth in annual recurring revenue. The company said it increased its customer base by more than 20%.
- In employee growth: During the first half, Lattice increased its headcount to more than 300 people, representing roughly 100% year-over-year growth since June 2020. The executive team also expanded.
- In product innovation: Over the last year, Lattice launched more than 100 features and product updates. The company introduced a “sweeping” application redesign, which included a new navigation architecture that allows employees to quickly get a complete picture of their performance. Lattice also launched weighted goals, which give users greater control over how teams reflect progress on objectives and communicate relative importance and priority. New capabilities allow HR teams to respond to employee feedback to address individual comments.
Just as the third quarter began, Lattice announced and integration with Gusto, a payroll, benefits and HR solution. Through the integration, joint customers will be able to share and manage employee data between the two platforms.
The integration automatically syncs new information, like newly hired employees and promotions, Lattice said. The integration also supports single sign-on.
“Now more than ever, businesses realize the importance of building company culture, increasing employee motivation and leading high-performing teams,” said CEO Jack Altman, CEO. “Our people management platform is rapidly expanding to help companies do just that.”