-11%

est. 2Y upside i

HR TechSeries D+

Modern people management platform.

Rank

#3796

Sector

HR Software

Est. Liquidity

~3Y

Data Quality

Data: Medium

Lattice, valued at $3.0B on an estimated ~$190M revenue (a high ~15.8x multiple), operates in a competitive HR software market with moderate growth (~15% YoY).

Last updated: March 10, 2026

Bull (17%)+90%

Lattice successfully integrates advanced AI across its platform, expands its HRIS and payroll offerings, and captures a larger share of the mid-market and enterprise segments by offering a more focused and user-friendly alternative to full-suite HCMs. Revenue grows to ~$300M by 2028, justifying a $5.7B valuation at a ~19x multiple.

Base (46%)+10%

Lattice maintains its position in its niche, growing steadily at approximately 15% year-over-year. Revenue reaches ~$250M by 2028, but the valuation multiple remains constrained around 13x-14x due to competitive pressures and market conditions, leading to a $3.3B valuation.

Bear (37%)-40%

Dominant incumbents like Workday and SAP SuccessFactors aggressively integrate advanced AI and expand their specialized people management features, commoditizing Lattice's core offerings. Growth slows to single digits, and the valuation multiple contracts significantly to ~9x revenue, resulting in a $1.8B valuation and a substantial reduction in common stock value.

Est. time to liquidity~2.5 years

Preference Stack Risk

moderate

Funding Intensity

11%

Investors hold $332M in liquidation preferences ahead of common stock. In an exit at or below this amount, common stock holders would receive little to nothing.

Dilution Risk

moderate

As a Series F company, while large funding rounds are less likely before an exit, future growth initiatives or market shifts could necessitate additional capital, leading to further dilution.

Secondary Liquidity

limited

While platforms like Prospect and Forge mention facilitating secondary trades, some sources indicate low market activity and limited buyers/sellers for Lattice shares.

View all 18 open roles at Lattice →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Lattice's data — designed to show you've done your homework.

  • 1

    “Given the strong push by incumbents like Workday and SAP SuccessFactors into AI-powered, integrated HCM suites, how does Lattice plan to maintain its competitive edge and prevent commoditization of its specialized people management offerings?”

  • 2

    “With conflicting revenue figures in public sources (ranging from $70M to $190M), can you provide more clarity on the company's current Annual Recurring Revenue (ARR) and the growth trajectory expected for 2026 and 2027?”

  • 3

    “As a Series F company, what is the anticipated timeline and strategy for a liquidity event (e.g., IPO or acquisition), and what mechanisms are in place for employees to realize value from their equity given the current secondary market activity?”

Cluster Peers

Expected Upside

WorkBoard
-25%
15Five
-47%
Leapsome
-75%

Community

Valuation Sentiment

Our model estimates -11% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.