Loom, Inc. is a technology company that provides video communication software for work. Its technology includes screen and camera recording, video editing, transcription, and the ability to share the recorded video link with others.
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| Company type | Private |
|---|---|
| Industry | Technology |
| Founded | 2015 |
| Founders |
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| Headquarters | , US |
| Products | Communication software |
| Parent |
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| Website | loom |
In 2022, according to Forbes, the firm was valued at $1.5 billion, having secured $200 million in funding from venture funds such as Sequoia Capital, Andreessen Horowitz, ICONIQ, Coatue, and Kleiner Perkins.[1][2] It is remote, but is headquartered in San Francisco, California, with an office in New York.
On November 30, 2023, it was announced that Atlassian completed its purchase of Loom, Inc.[3]
History
editIn 2015, the company was founded by Vinay Hiremath, Shahed Khan, and Joe Thomas in San Francisco, California.[4][1]
In June 2016, the Loom Chrome extension was released for recording a user’s screen and face, and then providing a link for the video.[5][1] In August 2018, Loom desktop app was launched, followed by the app for iOS in 2020 and Android in 2021.[6][7][8][9]
In June 2021, Loom launched a software developer kit beta version that allows companies to add a Loom-powered video record button to their own applications.[10] In the same year, the company surpassed 14 million users and 200,000 businesses across 230 countries worldwide.[11]
In 2022, Loom launched Loom HQ as the next iteration of the company’s platform for corporate teams.[12] In 2023, the company was acquired by Atlassian for $975 million.[13]
Investments
editIn October 2016, the company closed its seed round with $600,000. The lead investor was 1517 Fund.[14]
In February 2019, Loom received nearly $11 million in a Series A round led by Kleiner Perkins.[14] In November, the video messaging platform raised $30 million in a Series B round led by venture capital firm Sequoia Capital.[15]
In May 2020, Loom closed a $28.75 million second Series B by Sequoia Capital and Coatue. The investments valued the company at an estimated $350 million.[16] In May 2021, the company received $130 million in a Series C round led by Andreessen Horowitz, securing the company’s status as a “unicorn” and a $1.53 billion valuation.[17]
Recognition
editIn 2021, Loom entered the top three favorites in the category "Communicate and collaborate" Google's Best Chrome Extensions.[18] In the same year, the company was named the best medium-size companies for remote employees by Quartz.[19]
In 2022, Loom was included on Inc.'s “Best Workplaces 2022” list.[20]
References
edit- ^ a b c Li, Steven (March 14, 2022). "Nearly-Broke To $1.5 Billion: How They Built Loom And Grew It To 14 Million Users". Forbes. Retrieved 2022-08-31.
- ^ "Loom Workplace Video Message Platform Valued at $1.53 Billion". Bloomberg.com. 2021-05-20. Retrieved 2022-08-31.
- ^ "Atlassian Completes Acquisition of Loom". Reworked. Retrieved 2023-12-08.
- ^ "Work-focused video messaging platform startup Loom raises $130M on $1.5B valuation". SiliconANGLE. 2021-05-20. Retrieved 2022-08-31.
- ^ Pierce, David (2021-10-30). "How Loom created an industry — and maybe figured out the future of work". Protocol. Retrieved 2022-08-31.
- ^ "Loom is Introducing a Desktop Screencasting Tool". Retrieved 2022-08-31.
- ^ podfeet (2020-09-27). "Make Screen Recordings and Have Them Instantly Available Online using Loom". Podfeet Podcasts. Retrieved 2022-08-31.
- ^ "Loom - Create Screencasts on Your iPad". Retrieved 2022-08-31.
- ^ "Loom releases Android app for screen recordings". Redeeem. 2021-03-24. Retrieved 2022-08-31.
- ^ "Loom's new SDK lets any company add video messaging to their apps". VentureBeat. 2021-06-02. Retrieved 2022-08-31.
- ^ Gyimesi, Jenna. "My cofounders and I grew our app to 14 million users, but it wasn't easy. Here's how we got the first million and what I learned". Business Insider. Retrieved 2022-08-31.
- ^ Finnegan, Matthew (2022-04-01). "Async video platform Loom gets collaborative 'HQ'". Computerworld. Retrieved 2022-08-31.
- ^ "Atlassian to buy video messaging provider Loom for nearly $1 billion". Reuters. 2023-10-12. Retrieved 2023-10-12.
- ^ a b FinSMEs (2019-02-19). "Loom Raises $11M in Series A Funding". FinSMEs. Retrieved 2022-08-31.
- ^ "Loom loots $30m in series B round". Global Venturing. 2019-11-27. Retrieved 2022-08-31.
- ^ Wilson, Alexandra. "Exclusive: Why All-Star Investors Think $350 Million Video Startup Loom Is The Next Big Thing In Remote Work Tech". Forbes. Retrieved 2022-08-31.
- ^ "Video Messaging Platform Loom Secures Unicorn Status Following $130M Series C | Built In San Francisco". www.builtinsf.com. Retrieved 2022-08-31.
- ^ Mehrotra, Pranob (2021-12-08). "Google shares its top Chrome extensions and Chrome OS apps for 2021". XDA Developers. Retrieved 2023-03-02.
- ^ Staff, Quartz (2021-09-08). "Quartz's 2021 ranking of the best companies for remote workers". Quartz. Retrieved 2022-08-31.
- ^ "These Are the 475 Best Companies to Work For in America". Inc.com. Retrieved 2022-08-31.