Lattice Strengths, Domain Expertise, and Key Differentiators
Lattice's key differentiators lie in its domain expertise and product portfolio. The company specializes in people management software, enhancing employee performance, engagement, and workplace satisfaction. Its hosted platform, including web and mobile applications, has found favor with over 5,000 companies, including notable names like Reddit, Webflow, and Slack.
Lattice Recent Developments
Between 2021 and 2023, Lattice witnessed significant growth and achievement. In late 2021, the company reported an impressive 110% year-over-year growth in Annual Recurring Revenue (ARR). Simultaneously, they expanded their customer base by more than 40%, onboarding renowned companies like Calm, Imperfect Foods, and Article. These milestones showcased Lattice's rapid rise in the industry.
In January 2022, Lattice celebrated another major achievement by closing a $175 million funding round. This round led to a valuation of $3 billion, underlining the market's confidence in the company's potential.
In September 2023, Lattice introduced "Lattice HRIS" (Human Resources Information System), a purpose-built system designed to streamline employee records management and seamlessly integrate with Lattice's talent management products. Lattice HRIS empowers businesses with valuable insights into their employees, facilitates the measurement of HR initiatives' success, and automates change management processes.
Lattice Mergers and acquisitions (M&A) Activities
In March 2021, Lattice raised $60 million in a series E funding round, reaching a valuation of $1 billion, led by Tiger Global. This strategic move allowed Lattice to continue its rapid expansion, enhance its product offerings, and explore international opportunities. Notably, Lattice remained profitable even with previous investments available, demonstrating strong financial management.
Lattice Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Lattice applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Lattice and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Lattice Performance Management customers.
Lattice Overview
Ownership: - x
Number of Employees: 650
Functional Market: Workforce Analytics, Performance Management,
Key Verticals: Banking and Financial Services, Construction, Life Sciences, Manufacturing, Professional Services, Retail, Transportation, Utilities,
Lattice Key Cloud and HCM Applications
Lattice Performance Management
Lattice HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Lattice Revenue Breakdown by Type:
Lattice HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2023 HCM Revenues, By HR Segment, $M | |
Lattice HCM Applications Revenues By Verticals, $M:
Lattice Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
Lattice Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Lattice Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Lattice Customers
No. of Lattice Customers: 5000
No. of Lattice HCM Applications Customers: 5000
No. of Lattice Cloud HCM Customers: 5000
No. of Lattice Cloud HCM Subscribers: x
Lattice's customer base comprises over 5,000 companies across various industries, including the financial services sector. The company has experienced remarkable growth in this industry, onboarding 400 financial services customers, representing a 40% increase over the past year. The fact that Lattice attracted 130 new financial services companies in 2022 alone, serving over 100,000 employees, underscores its adaptability and effectiveness in addressing diverse organizational needs.
Lattice Market Opportunities, M&A and Geo Expansions
Lattice has identified substantial market opportunities, both on the horizontal and vertical levels. Their expansion in the financial services industry highlights their ability to tap into industry-specific needs and foster growth. Furthermore, the introduction of "Lattice HRIS" demonstrates their commitment to catering to scaling businesses, offering a comprehensive platform that integrates performance, engagement, compensation, and employee development programs.
Expanding into new regions, both domestically and internationally, presents a significant opportunity for Lattice to reach a broader customer base.
Lattice Risks and Challenges
Rapid expansion and accelerated growth may prove to be a challenge for Lattice. Managing increased customer demand and maintaining the quality of service while expanding into new regions could strain resources and present operational risks. Additionally, competition in the people management software sector is fierce, with established players and new entrants vying for market share.
Go-to-market challenges, regulatory changes, and potential economic downturns could also impact Lattice's growth trajectory.
Lattice Ecosystem, Partners, Resellers and SI
Lattice's ecosystem is a robust network of technology integrations and partnerships, including software and consulting partners like ADP, BambooHR, Bonusly, Crosschq, Deel, GreenHouse, and many others. These partnerships enhance Lattice's offerings, allowing customers to integrate their HR solutions seamlessly. The ecosystem creates a network effect, benefiting system integrators and value-added resellers in the Lattice Connect partner ecosystem.
Lattice Cloud Platform (PaaS) and Infrastructure (IaaS) Details
Subscribe to read more about:
- Lattice Public Cloud and Infrastructure (IaaS)
- Lattice Platform (PaaS)
- Lattice Application Delivery
- Lattice Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/taxonomy
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