Lattice, a people management platform for businesses with people-first cultures, announced a new valuation of $3 billion after closing a $175 million round of funding from Thrive Capital, Elad Gil, Tiger Global, and Dragoneer.
Lattice CEO and co-founder Jack Altman said that Lattice decided to take on additional capital less than 10 months after closing a Series E round I March 2021 to continue to fuel the company’s growth across industries and geographies and 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,” said Altman. “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.”
The new funding round was also joined by existing investors Founders Fund, HighSage Ventures, Shasta Ventures, Fuel Capital, Khosla Ventures, and several new angel investors. The new investment brings Lattice’s total funding to over $330 million.
The importance of people strategy has taken center stage as the world of work continues to place emphasis on the importance of the employee by increasing emphasis on their growth, development, and holistic well-being. This trend, accelerated by the pandemic, represents a shift in how organizations support and empower their people.
“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 Elad Gil, entrepreneur and investor. “Lattice’s approach of creating a broad suite of interconnected offerings has resonated and led to really exciting growth.”
People strategy is no longer only a concern of Human Resource departments — attracting, developing, and retaining top talent needs to be a company-wide effort to accomplish company goals. With more companies switching to hybrid and remote work models, building strong company culture is also becoming increasingly complex.