People management brand Lattice has announced its latest Series E funding round of $60 million, driving its valuation to a handsome $1 billion. It will be using these funds for accelerating innovation related to product blueprints for catering to the emerging needs of the market according to lattice 60m tiger global 1b 450mroofbloomberg. The round was led by Tiger Global and the company’s Co-Founder & CEO, Jack Altman, stated that they decided on raising more capital for expanding the company’s growth and product offerings while taking global opportunities into account as well.
The company is already profitable and investments in earlier rounds are still intact. Altman talked of how the company would expand into newer locations, while using the capital to pursue goals swiftly, while offering improved customer solutions. Existing investors like Shasta Ventures, Thrive Capital, Frontline Ventures, Founders Fund, Khosla Ventures, Fuel Capital and other new angels joined the round. The company has now raised $158 million to date from its inception in 2013.
Lattice has grown to a team of 225 professionals, catering to 2,500+ businesses including Asana, Slack, and Samsara among numerous others. The company has also doubled in size over the last couple of years. Partner at Tiger Global, John Curtius, stated that Lattice has successfully built a cutting-edge employee growth and management solution. He added that most companies have drastically transformed their working methods in the last few years and Lattice has naturally witnessed stellar growth as a result. The announcement of the funding round came after the Grow product being launched by Lattice along with a revamp of the platform. There was also the release of the first book by John Altman, namely People Strategy: How to Invest in People and Make Culture Your Competitive Advantage.
People management strategies for businesses are no longer isolated to HR roles and divisions, i.e. blueprints related to drawing, growing and retaining the best skilled talent across fields. This has to be increasingly streamlined and integrated across the entire company for achieving business objectives in a better manner. At the same time, company cultures and recruitment functions are increasingly attaining a layer of added complexity with the switch towards remote and hybrid working models at most organizations. Lattice has been able to contribute towards business growth with its solutions. The company has grown in size on account of the higher focus placed by companies on philosophies that are more people-focused.
