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Loom Gets $30 Million in Sequoia-led Series B Round Along with Instagram Founders

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Instagram co-founders Kevin Systrom and Mike Krieger have joined a $30-million Series B funding round of work video messenger startup Loom, which was led by Sequoia. Venture capital firm Kleiner Perkins, Figma CEO Dylan Field and Front CEO Mathilde Collin also participated in the funding round.
Loom an enterprise collaboration video messaging service that lets you send quick clips of yourself so you can get your point across and get back to work. Talk through a problem, explain your solution, or narrate a screenshare. We humans talk up to 6 times faster than we type so with Loom, you can capture your screen, voice, and face and instantly share your video in less time than it would to communicate through an email.

Launched in 2016, Loom is up from 1.1 million users and 18,000 companies in February to 1.8 million people at 50,000 businesses sharing 15 million minutes of Loom videos per month. Remote workers are especially keen on Loom since it gives them face-to-face time with colleagues without the annoyance of scheduling synchronous video calls.

The startup is launching an iOS app next month with Android coming the first half of 2020, improving its video editor with blurring for hiding your bad hair day and stitching to connect multiple takes. To date, Loom has focused on a bottom-up distribution strategy similar to Dropbox. It tries to get so many individual employees to use Loom that it becomes a team’s default collaboration software. Now it needs to grow up so it can offer the security and permissions features IT managers demand. Loom for teams is rolling out in beta access this year before officially launching in early 2020.

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