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Loom

Loom

Loom is a software company that develops communication software for asynchronous presentations through sharable video recordings.

OverviewStructured DataIssuesContributorsActivity

Contents

loom.com
Is a
Organization
Organization
Company
Company

Company attributes

Industry
Artificial Intelligence (AI)
Artificial Intelligence (AI)
Platform as a service (PaaS)
Platform as a service (PaaS)
Collaboration tool
Collaboration tool
Video conferencing
Video conferencing
Cloud computing
Cloud computing
Software as a service (SaaS)
Software as a service (SaaS)
Enterprise software
Enterprise software
Technology
Technology
...
Location
San Francisco
San Francisco
B2X
B2B
B2B
CEO
Joe Thomas (entrepreneur)
Joe Thomas (entrepreneur)
0
Founder
Shahed Khan
Shahed Khan
0
Vinay Hiremath
Vinay Hiremath
0
Joe Thomas (entrepreneur)
Joe Thomas (entrepreneur)
0
AngelList URL
angel.co/useloom
Pitchbook URL
pitchbook.com/profiles...179115-13
Legal Name
Loom, Inc.
Legal classification
Corporation
Corporation
Number of Employees (Ranges)
51 – 200
Email Address
support@loom.com
Full Address
140 2nd Street, 3rd Floor, San Francisco, California 94105, US
CIK Number
1,761,257
Place of Incorporation
Delaware
Delaware
Investors
Long Journey Ventures
Long Journey Ventures
Kleiner Perkins Caufield & Byers
Kleiner Perkins Caufield & Byers
Tencent
Tencent
Great Oaks Venture Capital
Great Oaks Venture Capital
Google Ventures
Google Ventures
Jared Leto
Jared Leto
Hiten Shah
Hiten Shah
Sequoia Capital
Sequoia Capital
...
Founded Date
2016
0
Total Funding Amount (USD)
203,600,000
Latest Funding Round Date
May 20, 2021
Competitors
Zight
Zight
BombBomb
BombBomb
Vidyard
Vidyard
Sendspark
Sendspark
Remotion
Remotion
Hiver
Hiver
Miro (collaboration company)
Miro (collaboration company)
Business Model
Subscription (with freemium option)
CTO
Vinay Hiremath
Vinay Hiremath
0
Key People
Vinay Hiremath
Vinay Hiremath
Acquisition Transaction
‌
Acquisition of Loom (company) by Atlassian
Latest Funding Type
Series C
Series C
Patents Assigned (Count)
2
Wellfound ID
useloom
Technologies Used
Vercel
Vercel
0
‌
Google Workspace
0
‌
Google Font API
0
React
React
0
Figma
Figma
HTML5
HTML5
0
Google Analytics
Google Analytics
Amazon Web Services (AWS)
Amazon Web Services (AWS)
...
Country
United States
United States

Other attributes

Blog
loom.com/blog
Company Operating Status
Active
Postmoney Valuation
1,530,000,000
Latest Funding Round Amount (USD)
130,000,000
TikTok URL
tiktok.com/@useloom
Overview

Loom is a San Francisco-based company that has developed a video-messaging platform of the same name. It was founded in 2015 by Joe Thomas, Shahed Khan, and Vinay Hiremath and later acquired by Atlassian in 2023. The software can be used for team communication between engineers, sales, design, customer support, and leadership.

Platform

Loom is a video-messaging platform that is intended to be used for professional purposes to communicate among teammates. The platform can be used through its Chrome extension, desktop app, or mobile app. Loom records the user with the camera associated with the computer or laptop. It can also record the computer screen at the same time to show what the recorder is seeing on the screen. Then, the video can be embedded into a communication channel or business software to be shared with teammates, such as Slack or Asana.

How to use Loom

Artificial intelligence

In August 2023, Loom announced the launch of its artificial intelligence (AI) suite of services and solutions that were a result of a partnership with Google Workspace. There were features added to the platform, such as one to create a transcript of the video using speech-to-text technology, which is available in more than fifty languages. The transcript is arranged into chapters with time stamps so viewers can find specific parts of the video that are about a certain topic.

The AI also automatically generates a title for each video based on the contents of the video and creates a task list of action items for the team members who are mentioned in the video. Loom's AI suite enables users to easily edit their videos as well with a feature that allows them to remove filler words or long silences.

Acquisition

In October 2023, Australia-based work management platform Atlassian announced its plans to acquire Loom for $975 million. Loom was considered a "unicorn" in May 2021 when it had a $1.53 billion valuation. At the time, many companies worldwide were still depending on collaborating remotely due to the COVID-19 pandemic, making it unsafe to be in close contact with other people.

It is reported that Atlassian will pay $880 million in cash, and the remainder will be in the form of Atlassian equity rewards. The announcement was only the beginning of the acquisition process, and it is expected that the acquisition will be complete in the third quarter of 2024.

COVID-19

During the pandemic of COVID-19, video conferencing technologies and platforms increased in public use, specifically Loom and Zoom. In response to the surge in need for use, Loom offered longer free trials and reduced subscription fees. The company also made the platform free to educators across almost every educational institution.

Timeline

No Timeline data yet.

Funding Rounds

Products

Acquisitions

SBIR/STTR Awards

Patents

Further Resources

Title
Author
Link
Type
Date

Loom - How quick videos help us explain and review code

https://www.loom.com/use-cases/engineering

Web

Loom - Ways to Use Loom

https://www.loom.com/use-cases

Web

References

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