Total amount raised
$203.6 Million
Latest funding date
5/1/2021
Location
Loom has successfully raised funding over 8 rounds, with notable investors including Andreessen Horowitz and Kleiner Perkins. The latest funding was secured through a Series C round, involving six investors.
Keep reading to explore the intricacies of Loom's fundraising journey and the investors backing this innovative platform.
What Is Loom?
Loom is a software company based in San Francisco, California, specializing in video messaging and screen recording tools. Founded to enhance productivity and communication, Loom allows users to easily record and share videos, making it a valuable tool for remote and distributed teams.
Operating in industries such as apps, enterprise software, messaging, productivity tools, and video, Loom has grown to employ between 101-250 people. The platform is widely used, with millions of users across 400,000 companies, highlighting its significant impact on modern work communication.
How Much Funding Has Loom Raised?
- Round Name: Seed
- Amount Raised: USD 600,000
- Date: October 2016
- Lead Investors: 1517 Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and validate the market need for video messaging tools.
- Round Name: Seed
- Amount Raised: USD 3,200,000
- Date: May 2017
- Lead Investors: General Catalyst, Point Nine
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Round Name: Series A
- Amount Raised: USD 11,000,000
- Date: February 2019
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's features.
- Round Name: Series B
- Amount Raised: USD 30,000,000
- Date: November 2019
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid user growth and expand market reach.
- Round Name: Series B
- Amount Raised: USD 28,750,000
- Date: May 2020
- Lead Investors: Coatue, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the platform and enhance user experience.
- Round Name: Series C
- Amount Raised: USD 130,000,000
- Date: May 2021
- Lead Investors: Andreessen Horowitz
- Valuation at Round: USD 1.53 billion
- Motivation Behind the Round: To scale video messaging capabilities for hybrid work and drive product innovation.
Total Amount Raised: USD 203,550,000. Current Valuation: USD 1.53 billion.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz is a leading venture capital firm based in Silicon Valley, known for investing in early-stage and growth-stage technology companies.
- Investment Focus Areas: Technology, software, consumer, enterprise, bio, crypto, fintech.
- Notable Investments: Facebook, Airbnb, Slack.
- Coatue
- Details: Coatue is a global investment firm focused on public and private companies in the technology, media, and telecommunications sectors.
- Investment Focus Areas: Technology, media, telecommunications, consumer.
- Notable Investments: Snap, Spotify, ByteDance.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that invests in seed, early, and growth-stage companies, with a strong focus on technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, consumer services, financial services.
- Notable Investments: Apple, Google, WhatsApp.
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm specializing in early-stage and growth-stage investments, particularly in technology and life sciences sectors.
- Investment Focus Areas: Technology, life sciences, healthcare, clean technology.
- Notable Investments: Google, Amazon, Twitter.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies, focusing on technology-driven companies across various sectors.
- Investment Focus Areas: Technology, consumer, enterprise, healthcare.
- Notable Investments: Airbnb, Stripe, Snap.
What's Next for Loom?
Loom stands at the cusp of a significant opportunity as the world embraces hybrid work models. With a 900% increase in users since early 2020, the platform is poised to enhance its video messaging tools, focusing on features like organization, discovery, and SDK development. This expansion could cater to the growing demand for flexible and efficient communication tools in a hybrid work environment.
Future fundraising opportunities seem promising, given Loom's rapid growth and substantial Series C funding. The company may attract further investment to scale its operations globally and drive product innovation. However, Loom will need to navigate challenges such as competition from other video communication tools and maintaining user engagement post-pandemic.
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