Loom (company)

Loom (company)

A software company making communication software for instantly sharing videos.

Loom is a software company making communication software for instantly sharing videos that is headquartered in San Francisco, California and was founded in 2016 by Joe Thomas, Shahed Khan, and Vinay Hiremath. The company claims their software can be used for team communication between engineers, sales, design, customer support, customer success, and leadership.

Funding

Seed

On October 7, 2016 Loom announced raising $600,000 in seed funding from 1517 Fund (lead investor), Elementum Ventures, Eric Wittman, and Andy Chou.

Seed II

On May 22, 2017 Loom announced raising an additional $3.2 million in seed funding from Point Nine Capital (lead investor), General Catalyst (lead investor), Slack, Lee Jacobs, Hiten Shah, Brian Balfour, and Andy Chou.

Series A

On February 19, 2019 Loom announced raising $11 million in series A funding from Kleiner Partners (lead investor), Jared Leto, Dylan Field, and Danial Gross. The company plans on using their series A funding to begin offering new products and to accelerate its growth. Also at the time of announcing their series A funding the company announced Ilya Fushman from Kleiner Perkins will join Loom's board of directors.

Series B

On November 26, 2019 Loom announced raising $30 million in series B funding from Sequoia Capital (lead investor), Mike Krieger, Mathilde Collin, Kleiner Perkins, Kevin Systrom, and Dylan Field. The company plans on using the funding to improve their software security and launch beta access to their software product in early 2020.

Competitors

Some of Loom's top competitors include companies such as BombBomb, Zoom, Vidyard, CloudApp, and Miro. During the pandemic of COVID-19, coronavirus, video conferencing technologies and platforms had increased in public use, and Zoom specifically had seen a growth in use.

Timeline

November 26, 2019

Loom raised $30,000,000 series B from Dylan Field and three other investors

May 22, 2017

Loom raised $3,200,000 seed from Andy Chou and three other investors

October 7, 2016

Loom raised $600,000 seed from 1517 Fund and three other investors

September 2016

Loom is founded in San Francisco, California, United States by Joe Thomas, Shahed Khan, and Vinay Hiremath

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Loom funding round, February 2019
11,000,000
February 2019
4 Results
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People

Name
Role
LinkedIn

Joe Thomas

Brendon Muschamp

Brittany Layton

Matt Hodges

Paulius Dragunas

Shahed Khan

Susana Cigano

Vinay Hiremath

Further reading

Title
Author
Link
Type
Date

Loom - Ways to Use Loom

Web

Loom | Video recording, simplified.

Web

Documentaries, videos and podcasts

Title
Date
Link

Loom - How quick videos help us explain and review code

Companies

Company
CEO
Location
Products/Services

Loom

Joe Thomas

San Francisco, California, United States

News

Title
Author
Date
Publisher
Description
Melia Russell
November 24, 2020
Business Insider
All year, Business Insider published lists of rising startups, which featured over 350 companies. We went back and chose our top 100 from that crop.
David Streitfeld
December 27, 2019
www.nytimes.com
In Campbellsville, Ky., the tech giant's influences abound. The profits, not so much.
May 23, 2019
AP NEWS
BOWLING GREEN, Ky. (AP) -- Fruit of the Loom says it is cutting about 100 jobs, mostly at its headquarters in Kentucky.

References

Golden logo
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