Venture Funding

Kleiner Perkins Leads $11 Million Round in Loom

SAN FRANCISCO — Loom, which develops a work communication tool that helps people get their messages through instantly shareable videos, has raised nearly $11 million in Series A financing led by venture capital firm Kleiner Perkins.

The company has raised nearly $15 million in total funding from General Catalyst, Point Nine Capital, and the Slack Fund.

Loom plans to 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.

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.”