Loom Raises $11 Million in Series A Funding Led by Kleiner Perkins

SAN FRANCISCO, Feb. 19, 2019 /PRNewswire/ -- Loom, a new kind of work communication tool that helps people get their messages through instantly shareable videos, today announced the company has raised nearly $11 million in Series A financing led by Kleiner Perkins. Loom will use the funds to roll out new product offerings for business users and fuel its ongoing growth in the workplace. Kleiner Perkins partner Ilya Fushman will join Loom's board of directors.

Loom was founded in 2016 by Joe Thomas, Shahed Khan, and Vinay Hiremath who recognized the distributed nature of today's modern business requires a different method for knowledge workers to communicate and work together. With Loom, users can simply capture, record, and narrate a video that can be instantly shared with a simple link - no switching apps or upload required. Today, more than one million users across 18,000 teams worldwide have used Loom to share and record nearly one million videos every month. Loom is also integrated with popular collaboration platforms such as Slack, Intercom, and Google Drive to help users leverage tools within their existing technology stack.

"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," said Ilya Fushman, partner at Kleiner Perkins.

Announcing Loom Desktop & Loom Pro

Originally launched as a Chrome extension, global teams have leveraged Loom videos for many aspects of work - from collaboration with remote teams (product and go-to-market), internal executive presentations, asynchronous meetings, external customer conversations (sales and support), to remote work. To make Loom more accessible to workers outside of Chrome, the company announced the launch of its first native desktop application for both Mac and Windows, available today. In conjunction, Loom also announced its first premium offering, Loom Pro, which allows users to take advantage of even more functionalities on Loom, including HD recording, video call-to-action, clip editing, and other highly requested features such as live drawing and deeper viewer insights.

"Business communication today is ripe for a transformation, but workers are still stuck typing words," said Shahed Khan, co-founder and head of business development at Loom. "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."

Loom's co-founders were recently honored on Forbes' 30 Under 30 list in the enterprise technology category. The company has raised nearly $15 million in total funding from General Catalyst, Point Nine Capital, and the Slack Fund.

About Loom
Loom is a new kind of work communication tool that helps people get their messages across through instantly shareable videos. Through its standalone app or Chrome extension, Loom makes it easy to capture your screen, record your front-facing camera, and narrate your video all at once - no switching apps or upload required. Whether it's training new teammates or replying to a customer inquiry, Loom enhances the way people communicate at work by allowing them to send the next best thing to being there. Founded in 2016, Loom has hundreds of thousands of active users and is backed by Kleiner Perkins, Point Nine Capital, General Catalyst, the Slack Fund, and angel investors Daniel Gross and Jared Leto. For more information, visit useloom.com.

About Kleiner Perkins
For five decades, Kleiner Perkins has partnered with some of the most ingenious founders in technology, helping them make history with their bold ideas. Through twenty venture funds and four growth funds, we've invested $10 billion in hundreds of companies including pioneers such as Amazon, Genentech, and Google. Today, Kleiner Perkins continues to invest in founders and their bold ideas helping them to make history. For more information, visit www.kleinerperkins.com and follow us on Twitter @kleinerperkins.

SOURCE Kleiner Perkins

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