People management platform closed a Series F round of $175 million from Thrive Capital, Elad Gil, Tiger Global and Dragoneer. The investment raises the company’s valuation to some $3 billion.
It’s been less than 10 months since Lattice closed its $60 million Series E round, in March 2021. CEO and co-founder Jack Altman said the company decided to take on the additional capital in order to continue the company’s rapid growth across industries and geographies, and also to advance its product offerings.
“This new funding is a vote of confidence in Lattice’s belief that the world is ready for a new generation of people management products that put employees’ interests first,” Altman said. “Employees have more choice than ever before, and they’re exercising that agency to choose jobs that meet their expectations for growth and fulfillment. Companies that embrace this and build their people systems with the success of their employees at the center are the ones that will thrive in the new world of work.”
Also participating in the latest round were existing investors Founders Fund, HighSage Ventures, Shasta Ventures, Fuel Capital and Khosla Ventures, as well as several new angel investors. The new investment brings Lattice’s total funding to over $330 million.
Growth of ‘People Strategy’
Even before the pandemic the idea of “people strategy” was beginning to take hold within a number of employers, who sought to improve both recruitment and retention by helping workers grow and develop, and also by paying attention to their well-being. With the Great Resignation shining a spotlight on business’s workforce practices, such trends are taking on even more weight.
“We’ve seen a few broad trends come together in recent years — the rise of remote work, the evolution of the role of HR — that have fueled the HR market,” said entrepreneur and Investor Elad Gil. “Lattice’s approach of creating a broad suite of interconnected offerings has resonated and led to really exciting growth.”
During the first half of 2021, Lattice said it turned in “breakthrough growth” as employers took advantage of its solutions as they attempted to improve their people practices and experience.