Lattice Accelerates International Expansion With $ 110 Million Investment in UK
Lattice | September 07, 2021
Lattice, the leading human resources management platform for companies with a people-centric culture, today announces its first strategic expansion into the European market, which includes an investment of $ 110 million to the UK over the next 10 years. In addition, the company plans to hire 50 to 70 members who are expected to join the local team in all marketing and support functions, including several management positions, over the next year.
“Having a people strategy is essential to building great companies wherever they are,” said Jack Altman , CEO of Lattice. “We are delighted to be establishing a presence in London to better collaborate with our European clients and partners, as well as to tap into the talent pool of this world capital of technology to help us continue to innovate and evolve. "
The announcement follows the company's Series E fundraiser in March, which secured a $ 60 million investment and increased Lattice's value to over $ 1 billion, earning it thus the status of unicorn.
Prior to officially establishing itself in Europe , Lattice served a growing portfolio of nearly 400 international clients, who accounted for over 12% of the company's total revenue. The new team will provide stronger regional support to existing customers and partners in Europe , who are an important and growing part of Lattice's business.
“With the UK being one of our most important markets, we are delighted to partner with an established performance and engagement management tool like Lattice,” said Samantha Richards , UK / I Country Manager at Personio, a European HR software provider and partner of Lattice . “The integration will enhance our all-in-one HR solution and further help European SMEs improve the performance, engagement and development of their people, which ultimately will drive their business forward. "
The increased emphasis on employee experience reflects the growing need for companies to re-examine their people management and engagement processes. Deloitte's report on human capital trends in Europe found that 54% of leaders are reimagining work processes for the future, up from the 28% total before COVID-19. More and more companies are reassessing their outdated human resources practices in order to better understand the performance and commitment of their employees, and to foster their development and fulfillment.
This promotes a significant change in human resources. A survey of HR managers at some of Europe's biggest companies by McKinsey & Company found that over 98% of them were thinking about how HR can move from mechanistic skills and talent management more focused and dynamic management of the employee experience.
“The balance of power in talent markets has changed dramatically over the past few years and employees now have more choices than ever before about where to work, and, for whom to work,” said Brennan O'Donnell , partner at Frontline Ventures, a Series E cycle investor. “Lattice is leading the way in what it means to build an employee-centric business for the cross-border and post-pandemic world of work. "
Lattice is the human resources management platform that enables human resources managers to develop committed and high performing teams. By combining continuous performance management, employee engagement, development and training in a single solution, people management teams benefit from powerful real-time analytics that result in actionable insights that transform managers into leaders, employees in high performing people and companies in better places to work.