San Francisco-based startup Lattice announced that it raised $45 million in a Series D financing round on Tuesday. The round was led by Tiger Global with additional participation from Frontline Ventures and Founders Fund.
The Lattice management suite provides businesses with a virtual space for employees to conduct performance reviews. The real-time analytics platform provides employers with multiple tools that can be used to measure engagement, understand employee performance, and track the success of new employee programs.
On a more personal level, the Lattice platform enables employees to provide each other with live feedback, set goals and provide project status updates to managers.
“We’re building Lattice to be a holistic people management platform that helps keep employees engaged, growing, and highly effective,” Jack Altman, co-founder and CEO of Lattice, said in a statement. “Company culture is forged during difficult times and we’ve seen an increase in companies turning to solutions to sustain and increase the employee experience in our new remote world.”
According to the company, the additional capital will be used to expand the size of its engineering and product teams in addition to furthering the development of existing and future products.
The Lattice platform also enables business leaders to build surveys that help measure team effectiveness, employee engagement, diversity and inclusion. The HR platform uses data acquired from surveys and performance reviews to provide business leaders with a detailed look at how to improve their company culture.
"In the migration to a more remote world, the tools for organizations to help manage, engage, and develop their teams are more important than ever," Miles Grimshaw, general partner at Thrive Capital, said in statement.
According to the company, Lattice serves over 1,900 customers. Among them are tech giants including Reddit, Slack, Postmates and Asana.
In addition to its plans for growth, the company recently announced an initiative with multiple line items that intend to address diversity and inclusion efforts at Lattice and beyond. As part of the effort, the company will make its platform free to use for any nonprofit dedicated to doing anti-racist work.
Lattice, founded in 2016, has raised a total of $94.3 million in venture capital to date, according to Crunchbase. Additional investors Khosla Ventures, Thrive Capital Partners, Fuel Capital and Y Combinator also participated in the round.
