Lattice announced a $45 million Series D today. Lattice is a continuous performance management, feedback, and analytics app that also offers pulse surveys to measure employee engagement. In its press release Lattice states the funds will be used for further product development. Lattice is leaning into messaging and product positioning for remote work in mid and post COVID-19 world, however like many of the deals announced post-COVID it’s not clear what beyond having a mobile interface and being cloud-based contributes to supporting the transformation of work models to more distributed and remote models.
Change is accelerating in the areas where Lattice’s product(s) have historically focused. Performance management has moved away from forced rankings and annual reviews to more goal-based approaches incorporating scheduled formal manager/employee 1:1s and the capture of formal and informal feedback on an ongoing and even ad hoc basis. This puts the analytics offering for any performance HR tech provider front and center. Engagement measurement apps have also moved beyond pulse surveys to incorporate the broader concepts of culture and employee experience across all of the touchpoints an employee has with an employer. HR and business leaders require measurement that can be correlated throughout the employee experience in order to make better data-driven decisions about the business impact of HR initiatives.
Talent management suites like Cornerstone OnDemand have put together product offerings that offer HR and employee workflow from recruiting through onboarding, learning, and into HR with analytics offerings across the suite. Employee Experience-focused providers like Culture Amp have moved aggressively to provide culture and employee experience insights and analytics that lend themselves to correlating HR and People leadership to business impact.
With the changing work and HR tech market landscape it seems product roadmap is the right place for Lattice to focus its latest investment.
Source: Lattice Raises $45M in Series D to Further Help People Leaders and Managers Navigate the New World of Work