Loom is a San Francisco, CA-based company led by co-founder and CEO Joe Thomas that offers a video messaging platform for work. Its product lets users record, share and watch videos instantly to communicate updates, provide feedback, engage customers and augment meetings. The platform is used by more than 10 million people across 120,000 companies and 192 countries. Loom raised $130M in a Series C that valued the company at $1.53 billion. The company plans to use the funds to drive product innovation and scale operations globally. Loom’s core product lets users record their screen and face, then instantly share a link so teammates can consume walkthroughs, feedback, and lessons without a live meeting. The company launched a free Chrome extension in June 2016 and released a full Mac/PC app with editing and storage in March 2019. In response to rising enterprise demand, Loom recently launched Loom for Teams, a cloud-based library with stricter security and beta customers including Slack, HubSpot, and JLL. Usage surged during the Covid-19 lockdown: users doubled to 4 million since the WHO declared an emergency, with roughly 2 million joining during the lockdown. Loom has been rapidly scaling its team—hiring 30 people since the end of January and growing from 80 employees with a projection of 125 by year-end—and operates with a distributed workforce and a base in San Francisco. Financially, the company recently secured new funding and is focused on converting newly acquired users into long-term, paying customers. Loom is an enterprise collaboration video messaging service that lets users send quick clips to explain problems, narrate screenshares, and share instantly viewable links. Launched in 2016, it uses uploading-before-finish technology and holds a patent on its streaming, transcoding, and storage systems to optimize performance. The company has grown from 1.1 million users and 18,000 companies in February to 1.8 million people at 50,000 businesses sharing 15 million minutes of Loom videos per month. Loom is rolling out an iOS app imminently and Android in the first half of 2020, improving its editor with blurring and stitching, adding branding options, offering transcription via a partner, and launching Loom for teams with team video libraries and analytics. To build these features it has grown to a headcount of 45 and hired leaders from Dropbox, Slack, and Intercom while a co-founder is stepping back. Loom says it raised a large Series B to scale its enterprise product and sales while keeping profitability top of mind as it faces potential competition from Slack, Microsoft Teams, Vidyard, and Wistia's Soapbox. Loom offers instant video messaging that lets users record themselves or narrate a screenshare and immediately upload while recording for seamless sharing. It began as a Chrome extension and has launched dedicated PC and Mac apps to become a persistent presence in users' workflows. Loom ships a Pro tier at $10 per month per user with HD recording, calls-to-action, clip editing, live annotation and viewer analytics. The product is used for internal updates, sales outreach, marketing walkthroughs and bug capture, and Loom counts 1.1 million users from 18,000 companies, including customers such as Uber, Dropbox, Airbnb, Red Bull and HubSpot. The company has a 16-person team and plans to build mobile recording, voice transcription/automatic subtitles and clip segmentation. To date Loom has raised a total of $15 million and is expanding sales and product efforts to drive paid adoption.

Total raised

$200M

Funding rounds

4

Latest round

Series C

Latest activity

May 2021