Loom, Inc. is a technology company that provides video
communication software
Communication software is used to provide remote access to systems and exchange files and messages in text, audio and/or video formats between different computers or User (computing), users. This includes terminal emulators, file transfer programs, ...
for work. Its technology includes screen and camera recording, video editing, transcription, and the ability to share the recorded video link with others.
In 2022, according to
Forbes
''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...
, the firm was valued at $1.5 billion, having secured $200 million in funding from venture funds such as
Sequoia Capital
Sequoia Capital Operations, LLC is an American venture capital firm headquartered in Menlo Park, California, specializing in seed stage, early stage, and growth stage investments in private companies across technology sectors. the firm had appro ...
,
Andreessen Horowitz,
ICONIQ, Coatue, and
Kleiner Perkins.
It is remote, but is headquartered in
San Francisco
San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...
, California, with an office in
New York.
On November 30, 2023, it was announced that
Atlassian
Atlassian Corporation () is an Australia, Australian-United States, American proprietary software company that specializes in collaboration tools designed primarily for software development and project management. Domicile (law), Domiciled in ...
completed its purchase of Loom, Inc.
History
In 2015, the company was founded by Vinay Hiremath, Shahed Khan, and Joe Thomas in San Francisco, California.
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.
In August 2018, Loom desktop app was launched, followed by the app for
iOS
Ios, Io or Nio (, ; ; locally Nios, Νιός) is a Greek island in the Cyclades group in the Aegean Sea. Ios is a hilly island with cliffs down to the sea on most sides. It is situated halfway between Naxos and Santorini. It is about long an ...
in 2020 and
Android in 2021.
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. In the same year, the company surpassed 14 million users and 200,000 businesses across 230 countries worldwide.
In 2022, Loom launched Loom HQ as the next iteration of the company’s platform for corporate teams. In 2023, the company was acquired by Atlassian for $975 million.
Investments
In October 2016, the company closed its
seed round with $600,000. The lead investor was 1517 Fund.
In February 2019, Loom received nearly $11 million in a Series A round led by Kleiner Perkins.
In November, the video messaging platform raised $30 million in a Series B round led by venture capital firm Sequoia Capital.
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. 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
The unicorn is a legendary creature that has been described since Classical antiquity, antiquity as a beast with a single large, pointed, spiraling horn (anatomy), horn projecting from its forehead.
In European literature and art, the unico ...
” and a $1.53 billion valuation.
Recognition
In 2021, Loom entered the top three favorites in the category "Communicate and collaborate" Google's Best Chrome Extensions. In the same year, the company was named the best medium-size companies for remote employees by
Quartz
Quartz is a hard, crystalline mineral composed of silica (silicon dioxide). The Atom, atoms are linked in a continuous framework of SiO4 silicon–oxygen Tetrahedral molecular geometry, tetrahedra, with each oxygen being shared between two tet ...
.
In 2022, Loom was included on Inc.'s “Best Workplaces 2022” list.
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References
External links
Official website
2015 establishments in California
American companies established in 2015
Communication software
Software companies based in the San Francisco Bay Area
Software companies of the United States
Software companies established in 2015
2023 mergers and acquisitions