The world is changing around us with shifts in the workforce and the way companies do business searching for new ways to remain relevant and operational as we come near what we hope is the end of a pandemic. Stay-at-home orders throughout many countries in the world sent companies scrambling to figure out how to conduct business within established guidelines for social distancing. Companies like Lattice come to the fore with a workforce management platform that customizes solutions for employee engagement and development under all circumstances, providing real-time analytics to help companies tread the murky waters and continue forward movement. Lattice provides companies with actionable insights with timely advice and tools for getting and staying on track. If you're not yet familiar with this powerful new force in the business world, here are 20 things you probably didn't know about Lattice to enhance your knowledge.
1. Lattice is still a new startup
According to Crunchbase, Lattice was founded in 2015. The headquarters is based in San Francisco, California. Lattice is entering its seventh year of operation in 2022. With less than a decade in business, the company is still young, but it has surpassed the developmental stage and is now firmly established and making a profit.
2. Lattice is a versatile organization
Lattice is listed across four industries on the internet. the company provides its clients with Enterprise applications and productivity tools. it serves Human Resources departments with Management Information Systems. Lattice is a technology company that serves businesses with solutions to manage their workforce and find innovative new systems to provide data and insights to key decision-makers for more effective workforce management.
3. Lattice uses a complex array of technologies
Lattice's website is powered by the use of a complicated assortment of technologies. The website actively uses sixty-one technologies which are distributed across fifty-two technology services and products. Some of them include jQuery, HTML5, Google Analytics, SPF, iPhone Mobile Compatible, Viewport Meta, and many others. These technologies help to provide users with a smooth and seamless experience while navigating and using the site.
4. Lattice stands out from its competition
Lattice is a unique company within the industry of MIS solutions and technologies. It provides products and services for its clients that maintain uniqueness above the rest. Lattice has secured one registered trademark in the Building; repairs classification. The trademark protects the intellectual property that powers its products and prevents the competition from imitating or using it directly without express written consent.
5. Interest in Lattice is growing
Analytics reports for the Lattice website show that there is significant interest in the products and services offered by the company. Over the past thirty days, there were 200,070 monthly visits. This number has earned Lattice the ranking of number 200,257 among the millions of websites registered on the world wide web. Lattice has one of the highest amounts of monthly web traffic to its website.
6. Lattice is the most popular in the United States
The highest percentage of web traffic to the Lattice website comes from people in the United States. Fifty-one percent of the visitors are from this country. Nine percent of visitors are from the United Kingdom, eight percent from Argentina, six percent from India, and six percent are from Canada, with a monthly visits growth rate of 19.67 percent over the past thirty days. The data gathered shows that interest is picking up in countries around the world. The information is useful for decision-makers at Lattice because it tells them where the interest is the highest and opens up new ideas for where to expand the operations.
7. Lattice is led by a team of 8 executives
The executive leadership team at Lattice is led by a group of eight executives, with dozens of supporting leaders. Kevin Norman is a senior account executive. Jack Altman is a co-founder and chief executive officer. J Zac Stein is the president. Eric Koslow is a co-founder. Jared Erondu is the head of design. Alex Kracov is the head of marketing. Derek Embry is a product marketing manager, and Ben Fox is a staff engineer. The leadership team also includes ten other high-level staff. The company has a strong network with a solid hierarchy.
8. Lattice has a board of directors with one member
So far, Lattice has listed just one person on its board of directors. Miles Grimshaw joined the board of directors fin 2017. He is a general partner at Benchmark with one portfolio company. He currently serves on five boards of directors in advisory roles.
9. Lattice is a venture-capital-backed organization
Lattice is financially backed by venture capital investors. It has participated in nine rounds of VC fundraising with the most recent round of Series F fundraising closing on January 19, 2022. So far, Lattice has raised a total of $328.3 million from its investors.
10. Lattice has secured investor confidence
Lattice has attracted a total of twenty investors who currently participate in its fundraising efforts as investors. The most recent to join include HighSage Ventures and Tiger Global Management. Some of the other private investors include Founders Fund, Khosla Ventures, Dragoneer Investment Group, also a lead investor, Thrive Capital, a lead investor, Fuel Capital, Elad Gil, a lead investor, Shasta Ventures, and several more. Investors have put hundreds of millions of dollars into the growth and expansion of Lattice, with full confidence that their gamble will pay off over time.
11. Lattice is a unicorn company
According to Techcrunch, Lattice has achieved the valuation status that takes it beyond the requirements to join the elite unicorns in the business world. Unicorn companies are those that have a valuation of at least $1 billion or more. After the last round of V fundraising that brought in an additional $175 million, the valuation of Lattice shot up to three times the necessary amount with a $3 billion valuation.
12. Lattice is a privately owned organization
Lattice is not listed on any of the public stock exchanges. The owners have not filed for an initial public offering, preferring to keep Lattice as a privately owned entity. The business is thriving on its current strategic plan, with no need to go public. this is why you will not be able to find any shares of Lattice stock for sale or trade on the market. Although investors do receive some sort of stake in the company for their investments, the precise agreements have not yet been shared with the rest of the world. Lattice is playing their cards close to the vest.
13. Lattice jumped $2 billion in valuation
Lattice achieved unicorn status approximately ten months ago in 2021. The next to the last round of fundraising tipped the scales and sent it into unicorn status with a $1 billion valuation. Here we are just ten months into the future with the second round of Series F fundraising that increased Lattice's valuation by a whopping $2 billion. It is worth three times the amount that it was less than a year ago, which is astronomical growth.
14. Lattice offers a solution to one of the biggest problems in business
Most of us are aware that the most daunting issue that business faces today is securing and retaining their workforce. There are more jobs available than people are willing to fill. It's a byproduct of the current pandemic. Those who have their workforce intact face challenges with the struggle of changing procedures to accommodate national, state, and county mandates on business. Managing their people has become a challenge in a new and still evolving work environment that relies more heavily on technology for online contact. Moving workers from office jobs to remote environments is a big challenge. Lattice offers solutions that help employers to better manage their people with a unique information system that keeps everyone on the same page.
15. The Lattice customer base is growing
Lattice is growing and expanding at a rapid pace. Investors are pouring more funds into the company to help it keep up with the demand for its products and services. Lattice is used by more than 3,550 businesses currently. About 1,000 new clients added in the past ten months. Half of Lattice's clients are technology companies, including Clio, Turo, Slack, and many others. One line of workers has yet to be addressed by Lattice. It's the front-line diskless segment of employees. This data gives the company a new direction to ponder for the rollout of new services and programs. The remote worker group is a problem they plan to pursue at a future date, but Lattice has not committed to. They haven't said when this may occur. The growth of the client base has seemed to follow numerically in line with the organization's valuation. We find this to be remarkable.
16. Lattice has plans for long-term growth
The executive leadership at Lattice confirmed that the plan for the company is to continue to grow and expand. Lattice plant to continue to build and to push its current offerings to new limits with the development of traditional Human Resource tools with a surge of artificial intelligence-based automation. It's all about helping employees gain mindfulness about work performance and less about merely training HR teams. Lattice pushes for leadership that is more employee-centric than company-centric, which is a shift from most competitors. Lattice hopes to promote the evolution of the HR role.
17. Lattice is currently hiring
According to LinkedIn, Lattice is making good on its commitment to continue its growth and expansion. Our review of the job announcements revealed that Lattice has ninety-one new positions advertised. The current workforce count before making new hires is 519. They're adding an increase of 25 percent to their workforce, which shows that they're getting ready for a big push to expand their operations. From all appearances, Lattice is beefing up staffing. They're adding more workers at the headquarters in San Francisco, California.
18. Lattice is hiring internationally
Some of the positions recently posted for Lattice are outside the United States. Jobs are open in Nouvelle, Aquitaine, France, and in Utica, Rome. They're also hiring new workers in London, England. Lattice is expanding its operation throughout France, Italy, and the United Kingdom. Although we can see that Lattice is operating in other countries, they haven't confirmed much news about international expansion. We hope to learn more about their strategic plan for the future soon.
19. Lattice has high ratings from employees
According to Glass Door, employee reviews of Lattice are high and positive. The current rating is 4.9 out of 5 stars in the category of would recommend this company to others and approval of the CEO. Workers were encouraged to list the pros and cons of working at Latticem Most of the workers declined to address drawbacks citing that there were none. A minority of workers voiced concerns or complaints. Forty-nine employees responded to the survey used to assess the employee opinions of Lattice, which is nearly ten percent of the workforce.
20. Lattice is a company to keep your eye on
Our review of Lattice reveals that it is a thriving tech company that provides its clients with solutions for managing the people in its workforce. The services are coming at a time when the business world requires help to navigate its way through murky waters in light of the ongoing pandemic. The way that most companies do business has changed with social distancing requirements, and for some, mandatory immunizations or firing of those who do not comply. Despite the turbulent waters, Lattice has grown and expanded quickly, reaching a $3 billion valuation within the last year since achieving unicorn status. Although it's not listed on any of the public stock exchanges, Lattice is a company that bears watching.
Written by Allen Lee
Read more posts by Allen Lee