Loom, a work communication company that enables users to get their messages through instantly shareable videos, recently announced several milestones. For example, the company raised $11 million in Series A financing. And Loom now has more than one million users across 18,000 teams worldwide who have used Loom to share and record nearly one million videos every month.
Founded in 2016 by Joe Thomas, Shahed Khan, and Vinay Hiremath, Loom was built to provide a different method for knowledge workers to communicate and work together. Loom users can capture, record, and narrate videos that can be instantly shared with a simple link without having to set uploads or switch apps. And Loom also supports integration with collaboration platforms like Slack, Intercom, and Google Drive.
“Business communication today is ripe for a transformation, but workers are still stuck typing words,” said Loom co-founder and head of business development Shahed Khan in a statement. “Bringing Loom’s video recording and sharing capabilities to more business users through our native desktop app and new Loom Pro features can help empower more people to clarify complex scenarios and share more big ideas, simply and from anywhere.”
The funding round was led by Kleiner Perkins. And the funding will be used to roll out new product offerings for business users and to fuel its ongoing growth in the workplace. In conjunction with this round, Kleiner Perkins partner Ilya Fushman will be joining the board of directors. Including this round, Loom has raised nearly $15 million from a long list of reputable investors, which also includes Point Nine Capital, General Catalyst, the Slack Fund, and angel investors Daniel Gross and Jared Leto.
Loom originally started out as a Chrome extension and it was used from collaboration with remote teams, internal executive presentations, asynchronous meetings, and external customer conversations. The company also announced its first native desktop application for both Mac and Windows is now available.
“Communication is core to modern distributed businesses. Loom is opening up a new paradigm for video-based communication that’s making it easier for teams to work inside and across organizations,” added Fushman.
And Loom also announced its first premium offering called Loom Pro. Loom Pro enables users to utilize HD recording, video call-to-action, clip editing, and a number of other requested features like live drawing and deeper viewer insights.
