Lattice has successfully raised $49.2 million over 5 funding rounds, achieving a valuation of $2.2 billion. The company specializes in performance management software designed for forward-thinking organizations.
Keep reading to explore the intricacies of Lattice's fundraising journey and the investors backing this innovative platform.
What Is Lattice?
Lattice, founded by Jack Altman and Eric Koslow, is headquartered in San Francisco. The company specializes in performance management software designed to help organizations retain and develop their employees.
Since its inception, Lattice has grown to employ between 501 and 1000 people. The platform integrates seamlessly with daily workflows, offering HR the flexibility to create any performance management process.
With a focus on enhancing employee performance and engagement, Lattice serves a diverse clientele, including companies like Coinbase and Cruise Automation.
How Much Funding Has Lattice Raised?
- Seed Round
- Amount Raised: $2,800,000
- Date: May 2016
- Lead Investors: SV Angel, Alexis Ohanian, Sam Altman
- Motivation Behind the Round: Initial funding to develop and launch their performance management software.
- Series A
- Amount Raised: $6,400,000
- Date: July 2017
- Lead Investors: Thrive Capital
- Motivation Behind the Round: To scale operations and enhance product features.
- Series B
- Amount Raised: $15,000,000
- Date: April 2019
- Lead Investors: Shasta Ventures
- Motivation Behind the Round: To further expand the team and accelerate growth.
- Series C
- Amount Raised: $25,000,000
- Date: October 2019
- Lead Investors: Tiger Global Management
- Motivation Behind the Round: To continue scaling the business and expanding market reach.
- Series F
- Date: January 2022
- Valuation at Round: $2.2B
- Motivation Behind the Round: To solidify their market position and invest in new product development.
Total Amount Raised: $49.2M
Current Valuation: $2.2B
Key Investors
- Shasta Ventures
- Details: Shasta Ventures is a venture capital firm that led Lattice's Series B funding round. They focus on early-stage technology companies.
- Investment Focus Areas: Technology, enterprise software, consumer services
- Notable Investments: Anaplan, Apptio, Nest
- Thrive Capital
- Details: Thrive Capital is a venture capital firm that led Lattice's Series A funding round. They have been a partner since leading Lattice's seed round.
- Investment Focus Areas: Technology, internet, software
- Notable Investments: Instagram, Stripe, Robinhood
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm known for investing in early-stage companies. They participated in Lattice's Series B funding round.
- Investment Focus Areas: Technology, healthcare, clean energy
- Notable Investments: Square, DoorDash, Impossible Foods
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding and mentorship. Lattice completed the Y Combinator startup accelerator in 2016.
- Investment Focus Areas: Technology startups
- Notable Investments: Airbnb, Dropbox, Reddit
- SV Angel
- Details: SV Angel is a seed fund that invests in early-stage companies. They were a previous investor in Lattice.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Twitter, Airbnb, Pinterest
What's Next for Lattice?
Lattice stands at the cusp of significant growth opportunities, driven by the increasing demand for modern performance management solutions. With a strong market presence among high-growth companies like Reddit and Slack, the potential for expansion is vast. The company’s focus on continuous performance management aligns well with industry trends, positioning it to capture a larger share of the market.
Future fundraising rounds seem likely as Lattice continues to invest in product development and explore new markets. The recent $15 million Series B funding is a testament to investor confidence and sets the stage for further financial backing. However, the company must navigate challenges such as intense competition and the need for continuous innovation to maintain its edge.
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