We’re huge believers at Lattice that fundraising isn’t much of a milestone. Happy customers, great products, and — most importantly — successful employees, are what matter most.
However, capital can be an important means to an end, and today we have some exciting news. I’m thrilled to share that Lattice has raised $60M at a $1B valuation, led by Tiger Global, with participation from so many of our committed insiders, and some great new angel investors.
This money will allow us to continue growing our team quickly so we can double down on our current products, build new ones, and launch Lattice into new geographies around the world, all while constantly looking for ways to more deeply serve our existing customers.
When we started Lattice back in 2015, we had no idea how much HR best practices and company cultures were evolving. My cofounder and I simply thought it would be good for the world if companies took a more employee-centric approach to performance management.
As it turned out, our timing couldn’t have been better. We started Lattice at the beginning of a wave of change that was quietly taking off. Employees wanted and expected more from their companies, and this was morphing people practices from company centric to employee centric. People wanted performance management to focus on their growth and development, not just evaluation and compensation. They wanted companies to listen to how they felt about things, and make proactive improvements to company culture. And they wanted to understand how their careers might progress, and what it took to get there.
Although Lattice got started in performance management, the same trend existed in adjacent areas. We launched employee engagement surveys in 2018, which are a critical tool to understand the employee experience. We then launched Grow in 2020, which helps companies articulate and plan the infrastructure around their employees’ career development.
In a world where employees have increasing power in the employment relationship, perceptive company leaders have realized that the path to a successful company is paved with employee satisfaction. We’re confident that it’s a matter of time until 100% of companies come around to this way of thinking. Something we say at Lattice a lot is “people strategy is business strategy”, which is our way of saying that anyone who wants to create a great business should think about their approach to people just as much as their approach to product or sales.
Looking to the future, we’re more excited than ever. We’re proud of how far we’ve come; today we’ve got 225 employees, over 2,500 customers, and over half a million employees using Lattice around the world. While we’ve made a lot of progress over the past five and a half years, we know there’s much more still to do than we’ve done so far. A common mantra people say at Lattice is “stay humble, stay focused”, and that’s what we plan to do.
We believe that employees come first, full stop. That means we’ll never stop shipping new products that help our customers create more meaningful work experiences for their employees, and we’ll never lose sight of the fact that Lattice employees are and always will be our most important stakeholders. (If that sounds like the sort of place you’d like to work, we’re hiring on all fronts and would love to talk to you.)