Loom announced a $130 million Series C round of venture capital for its asynchronous video communications product. This brings its total raised to $203.6 million.
As the business world grapples with communication and collaboration in a world driven by hybrid work and distributed teams, asynchronous communication work tech platforms like Loom look to be the solution. Allowing you to record videos of your screen and camera, Loom positions itself as an essential tool for the hybrid workforce. It’s like a collaboration-centric version of mmhmm, prezi, or ManyCam where you’re self-imposed over your presentation or screen. Where those tools position as a tool for either live broadcast or recording of a presentation, with Loom, users can comment or send emojis across the video timeline more collaboratively.
Loom boasts 10+ million users across 120,000+ companies. They offer a free version of the product as well as “business” and “enterprise” tiers. It’s unclear how many companies, if any, are paying for it.
$2.7 billion was invested globally in work tech during 2021 Q1 alone. Get WorkTech’s free report and analysis here.