Lattice vs Rippling: Revenue, Profit and Business Model
Lattice does not publish annual revenue. Rippling reported $1B of revenue in FY2026 and — of net income.
Latest financial snapshot
Financial summary
Lattice
Lattice is privately held and does not publish revenue, profit, or ARR. Its disclosed funding history includes a $60 million Series E in March 2021 that made it a unicorn and a $175 million Series F in January 2022 from Thrive Capital, Elad Gil, Tiger Global and Dragoneer at a $3 billion valuation. No later priced round has been announced, so the $3 billion figure reflects 2022 private-market conditions rather than a current market value. Revenue comes from annual per-employee subscriptions, so growth depends on adding customers, selling more modules, and customers' own headcount.
Rippling
Rippling is private and does not publish audited financials. Sacra estimates annualized revenue of about $850 million at the end of 2025 and $1 billion by March 2026. CNBC reported that Rippling crossed $1 billion in ARR in 2025. In April 2026 Parker Conrad said revenue was growing 78% year over year, and that growth had sped up for three straight quarters. Rippling has raised about $1.8 billion in equity, most recently a $450 million Series G in May 2025 at a $16.8 billion valuation, along with a $200 million employee tender offer.
Revenue and profit by year
Lattice
Lattice does not publish annual revenue. What is known about its finances is in the summary above.
Full Lattice financialsRippling
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $1B | — | 0.0% | +17.6% | Source |
| FY2025 | $850M | — | 0.0% | — | Source |
Where the revenue comes from
Lattice
No segment breakdown is published.
Rippling
- HR and payroll subscriptions
Per-employee monthly fees for payroll, benefits administration, time tracking and recruiting.
- IT subscriptions
Fees for app provisioning, single sign-on, password management and device management.
- Finance and global products
Spend management, bill pay, card interchange, plus employer-of-record and global payroll fees.
Business model and strategy
Lattice
How it makes money
Lattice operates a pure B2B SaaS (Software as a Service) subscription model. They charge companies a monthly fee per employee. The platform is a large, unified suite covering the entire 'People Success' lifecycle. 1. Performance Management: The large core (360-degree reviews, 1-on-1 meeting tracking). 2. Goals (OKRs): Aligning individual employee goals with large corporate objectives. 3.
Growth strategy
Having dominated the tech sector and mid-market, Lattice's large growth strategy is aggressive expansion into the 'Enterprise' and heavily integrating Artificial Intelligence. They are building highly complex, heavily compliant features to steal large Fortune 500 clients away from legacy HR leaders.
Competitive advantage
Lattice's absolute competitive advantage is its large superiority in User Experience (UX) and its deep, cultural alignment with modern management philosophy. Legacy HR software (like Workday) was built purely for the HR compliance department; employees hate using it. Lattice was explicitly designed for the *employee and the manager*.
Rippling
How it makes money
Rippling sells subscription software, mostly priced per employee per month. Customers start with a core platform (the employee record, org chart and permissions) and add modules: payroll, benefits, time tracking and recruiting in HR; app provisioning, single sign-on and device management in IT; corporate cards, expenses and bill pay in finance; and employer-of-record and global payroll for staff abroad.
Growth strategy
Rippling grows by adding products to the same platform and selling them to existing customers, a strategy Conrad calls the 'compound startup'. Its current focus is on Rippling AI, which turns plain-language requests into actions across HR, IT and finance, on global payroll and employer-of-record services for companies hiring abroad, and on moving upmarket to larger employers.
Competitive advantage
Rippling built its HR, IT and finance products itself instead of buying them, so they all run on one data model. When an employee is hired, promoted or let go, that one change can update payroll, software access, the laptop and the card limit automatically. Competitors that grew through acquisitions or that only do one of these things usually need integrations to do the same work.
Questions about Lattice vs Rippling
Which company has higher revenue — Lattice or Rippling (People Center, Inc.)?
Rippling (People Center, Inc.) reported $1.0B (FY2026). A verified revenue figure for Lattice was not available at the time of this comparison.
What is the market cap of Lattice vs Rippling (People Center, Inc.)?
Lattice has a market capitalisation of $3.0B. A public market cap figure for Rippling (People Center, Inc.) was not available (it may be privately held).
How do Lattice and Rippling (People Center, Inc.) make money?
Lattice and Rippling (People Center, Inc.) generate revenue in fundamentally different ways. Lattice: Lattice operates a pure B2B SaaS (Software as a Service) subscription model. Rippling (People Center, Inc.): Rippling sells subscription software, mostly priced per employee per month.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Lattice vs Rippling overview