SaaS startup Lattice closes $25M Series C to improve performance reviews
Lattice, a SaaS startup that helps people leaders build high-performing teams by equipping managers with tools to drive growth and productivity through continuous performance management, has closed $25 million in Series C funding to further accelerate its growth and invest in product development. The round was led by Tiger Global.
Founded in 2015 by Eric Koslow and Jack Altman, the San Francisco, CA-based Lattice develops an online platform for setting and aligning company’s goals. It offers Lattice that allows users to work with their team to align their goals in an user interface; enables users to clarify and reinforce their company’s top goals to the whole team; allows users to check-in on their goals and keep their team/company up to date; enables users to focus on their priorities; and allows users to track the performance of their company. Since its launch in 2016, Lattice has quickly built a customer base of over 1,400 leading companies including Slack, Glossier, Reddit, Cruise, and Coinbase. Lattice currently has 60 employees and was cash flow break-even for the first time in Q1 2019.
While most employees don’t love HR platforms, it’s clear that Lattice’s approach has started to change their minds. On the independent review site, G2 Crowd — where Lattice holds the #1 ranking in both highest rated and easiest-to-use categories — real employees describe Lattice as “great for employee connection,” an “amazing tool for employee growth” and “easy to use.” (Read the reviews here)
With this new round of funding, Lattice will invest in product development to continue giving people leaders more solutions to develop engaged, high-performing teams. “We’ve seen tremendous traction in connecting performance and engagement software and the value that this connection provides to People leaders in both understanding why employees are not engaged, but also giving them the tools to drive people management across the organization,” said Jack Altman, CEO and Co-Founder of Lattice, “Now we’re looking into ways to empower people leaders to really help employees manage their career growth. When companies are able to align employee growth with company growth, everyone wins.”
Based in San Francisco,
Lattice serves over 1,400 customers around the world like Slack, Glossier, Cruise, and Reddit and is backed by Tiger Global, Shasta Ventures, Thrive Capital, Khosla Ventures, Y Combinator, and Slack Fund.