Loom, Inc.
| Company type | Private |
|---|---|
| Industry | Video communication software |
| Founded | January 1, 2015 in San Francisco, California, United States |
| Founder | Vinay Hiremath, Shahed Khan, Joe Thomas |
| Fate | Acquired by Atlassian |
| Headquarters | San Francisco , United States |
Area served | Worldwide |
Key people | Vinay Hiremath (co-founder) |
| Products | Video communication tools including screen and webcam recording, video editing, transcription services, video link distribution |
| Parent | Atlassian (since 2023) |
| Website | www |
Loom, Inc. is a tech firm specializing in video communication tools designed for professional use. Its offerings include screen and webcam recording, video editing capabilities, transcription services, and straightforward video link distribution.
In 2022, Loom achieved a valuation of $1.5 billion following a $200 million funding round backed by investors such as Sequoia Capital, Andreessen Horowitz, ICONIQ, Coatue, and Kleiner Perkins. Although the company functions with a remote workforce, its main office is located in San Francisco, California, with an additional presence in New York.
On November 30, 2023, Atlassian finalized the acquisition of Loom.
History
Established in 2015 by Vinay Hiremath, Shahed Khan, and Joe Thomas in San Francisco, Loom initially launched a Chrome extension in June 2016 that allowed users to capture screens and faces while generating instant video links. The desktop application was introduced in August 2018, followed by mobile apps for iOS and Android released in 2020 and 2021 respectively.
By June 2021, Loom had rolled out a beta software development kit (SDK) that enabled businesses to integrate Loom’s video recording button directly into their own software. That year, the platform exceeded 14 million users and supported more than 200,000 companies across over 230 countries.
In 2022, the company unveiled Loom HQ, a sophisticated platform designed specifically for enterprise teams.
Following its acquisition by Atlassian in 2023 for $975 million, co-founder Vinay Hiremath publicly shared reflections on how the transaction affected him personally.
Investments
In October 2016, Loom completed a seed funding round of $600,000 led by 1517 Fund.
February 2019 saw the company raise close to $11 million in a Series A round spearheaded by Kleiner Perkins. Later that same year, it secured $30 million during a Series B round led by Sequoia Capital.
In May 2020, Loom closed a second Series B round totaling $28.75 million from Sequoia Capital and Coatue, which valued the business at roughly $350 million. By May 2021, Loom had raised $130 million in a Series C round led by Andreessen Horowitz, reaching unicorn status with an approximate valuation of $1.53 billion.
Recognition
In 2021, Loom was ranked among Google's top three Chrome extensions within the "Communicate and collaborate" category. That same year, Quartz recognized it as one of the best medium-sized companies for remote workforces.
In 2022, Loom appeared on Inc.’s list of “Best Workplaces.”