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Research Outline
Prepared for 彩香 蔵. | Delivered June 24, 2020
Loom Growth Story
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Goals
To determine Loom growth story and the founders of the company.
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Early Findings
Founding
Loom was founded in
mid-2016
by co-founders Joe Thomas and
V
i
n
a
y
H
i
r
e
m
a
t
h
.
S
h
a
h
e
d
Kha
n, who is also a co-founder at Loom had worked at
W
e
e
b
l
y
, a website builder, as a product designer, before joining Upfront Ventures. During this time, in
2016,
Loom was trying to survive, and Khan, together with Thomas and
H
i
r
e
m
a
t
h
, "
started
O
p
e
n
t
e
s
t
to let app makers get usability feedback from experts via video."
After going through the
NFX accelerator
, the founders were running out of money to keep the company running after just six months. Running out of bootstrapped money sparked an idea. The team realized that
video messaging
would be more productive as teams sought to keep in touch with members, whether working remotely or from home.
Growth
In mid-2016, Loom founders raised a
p
r
e
-
s
e
e
d
and seed round of
$4 million.
So far, the company has raised
$73 million
in funding and is currently being used by more than
90,000 companies
and
4 million users.
The latest funding was from a Series B on
November 26, 2019.
The round "was
led by prestigious SAAS
investor Sequoia and joined by Kleiner Perkins,
F
i
g
m
a
CEO Dylan Field, Front CEO Mathilde Collin, and Instagram co-founders Kevin
S
y
s
t
r
o
m
and Mike Krieger."
Among the top teams that use Loom include
S
a
l
e
s
f
o
r
c
e
,
H
u
b
s
p
o
t
, Square
,
F
i
g
m
a
, and
A
i
r
t
a
b
l
e
.
By November 2019, the platform was sharing
"15 million minutes
of Loom videos per month."
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