Lattice Apps picks up $45M investment with an $400M Evaluation
New Start-App Gain Million Dollar Evaluation.
A startup apps called Lattice,a people management platform, whose platform is to helps track, reward and set goal achievement in the workplace, has closed a round of $45 million to help address some of those issues.
The funding, is being led by Tiger Global with participation from Frontline Ventures, Founders Fund, Khosla Ventures, Thrive Capital Partners, Fuel Capital, and Y Combinator.
The company now valued at around $400 million, CEO and co-founder Jack Altman said in an interview. Lattice’s valuation doubled since October 2019,when the startup closed-up of 25 million dollar also led by Tiger Global.
Lattice’s product covers a spectrum of tools that both tap into the idea of proactive usage, and more passive data flow, both to help build up a picture of how employees are doing, and also to help provide better communication of goals achieved between those employees and their managers.
Jack Altman says that he believes that He are at least five years away from realistically building AI platforms that can seamlessly track all our work activity, both within our work apps and in a wider network of digital activity to provide with real time updates.
What we’re doing well but also how we could be doing better.It includes software to give and get feedback and run reviews, set goals for employees, deliver praise, and get updates on what people are working on. It also features integrations with other platforms like Slack that help communicate, but also track these milestones so that they can feed into an analytics engine.
That’s the bigger opportunity for companies like Lattice, which compete not only against other pure-play platforms like other Big Platforms, but also those that integrate performance management into wider human resources platforms.
While the Apps may exist for a long time, it means that for a company like Lattice, it has both opportunities to continue and grow as a standalone service, as well as one that might potentially get snapped up in that wider consolidation trend.
Lattice along with companies like it, have taken on a key role that of providing structure in an organisation at a time when we have lost a lot of that. Lattice is definitely interested in that long-term goal event even as it continues to build products that can address performance management as it’s known and identified as a business area today.
That’s before considering whether we are ready to accept that kind of concept as helpful and not dystopian.
The challenges of today, in any case, are no less massive and already a big shift, considering the move many of us have made to new work environments, which for some will take a long time to return to “normal” or at least start to feel “normal” and routine again.
“We’re excited to further advance the impact of Lattice’s employee success platform.”partnering at Thrive Capital
“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,” said Miles Grimshaw,.
