Loom, a US-based video collaboration platform developer backed by enterprise messaging software provider Slack, received $30m yesterday in a series B round led by venture capital firm Sequoia Capital.
VC firm Kleiner Perkins also participated in the round, which included private investors Dylan Field, Mathilde Collin, Kevin Systrom and Mike Krieger.
Loom has built a messaging platform with 1.8 million users across some 50,000 companies that works through video messages, allowing people to communicate non-textually without requiring them to schedule time for a conversation.
The round boosted the company’s overall funding to $45m since it was founded in 2016, $11m of which came in a series A round led by Kleiner Perkins that included Slack, Point Nine Capital, Jared Leto and Daniel Gross that was disclosed in February 2019 (though Loom said this week it closed the round in late 2018).
Loom had closed its $4m seed round in June 2018, bagging money from Slack, General Catalyst, Point Nine Capital, David Okuniev, Eric Wittman and Brian Balfour. Its other investors include 1517 Fund, Elementum Ventures and Ashton Kutcher.
The latest funding will support product development, as Loom looks to build security and collaboration features into the platform to better serve corporate customers. It also plans to launch a mobile version on iOS and Android.
