Over the last two years, companies across the U.S. and around the world have continued to seek out virtual solutions to help them adapt to the remote work era. This has been good news for HR software companies like Lattice. The people management platform got its horn less than 10 months ago and has continued to rake in large amounts of capital since.
The San Francisco-based platform grabbed $175 million in its latest raise led by Thrive Capital. Lattice announced Wednesday that the fresh funding sent its valuation soaring to a whopping $3 billion.
Lattice is the latest in a long line of Bay Area-based HR platforms to win big over the last year. The unicorn’s latest raise could be an early indicator that the HR software industry will definitely be one to watch in 2022.
“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,” Elad Gil, another investor in the round, said in a statement. “Lattice’s approach of creating a broad suite of interconnected offerings has resonated and led to really exciting growth.”
The Lattice platform offers enterprise teams a comprehensive view of their performance management, employee engagement, development and growth metrics. The platform’s real-time analytical tools provide HR leaders with a live look at employee attitudes in relation to company-wide initiatives and policies.
All told Lattice serves more than 3,500 businesses including tech giants like Slack, Asana and Samsara.
“Employees have more choice than ever before, and they’re exercising that agency to choose jobs that meet their expectations for growth and fulfillment,” Jack Altman, co-founder and CEO of Lattice, said in a statement. “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.”
Since its founding in 2013, Lattice has grown its team to include over 470 employees. That number represents an almost 150 percent year-over-year increase, according to the company. Following the latest raise, Lattice plans to continue expanding its headcount. The HR unicorn is now hiring for over 85 roles spanning its design, recruiting, engineering and product teams, to name a few. A handful of those opportunities are available to work remotely.
Lattice has raised over $330 million in venture capital financing to date, according to the company.
Additional investors Tiger Global, Dragoneer and Founders Fund participated in the round, among others.
