Video Tool Loom Raises $11 Million in Series A Funding

Loom, a communication tool that helps businesspeople instantly share videos, acquired $11 million in Series A financing led by Kleiner Perkins. Kleiner Perkins partner Ilya Fushman will join Loom’s board of directors.

Founded in 2016 by Joe Thomas, Shahed Khan, and Vinay Hiremath, Loom is designed to allow users to capture, record, and narrate video that can be instantly shared with a simple link—no switching apps or upload required. According to the company, one million users across 18,000 teams worldwide use Loom to share and record one million videos every month. Loom is also integrated with collaboration platforms Slack, Intercom, and Google Drive.

The company plans to use the funds to roll out new product offerings for business users.