PUBLISHED ONNovember 16, 2022 5:00 PM
SAN FRANCISCO, Nov. 16, 2022 (GLOBE NEWSWIRE) -- Loom, the video communication platform for asynchronous work, hit significant usage milestones in 2022 as it scaled its offering to meet user demand. The platform today counts more than 18 million users. Users have recorded more than 215 million Looms — 1.1 billion minutes — on the platform. Loom users include more than 350,000 businesses, and more than 60% of signups come from outside of the US. Engagement also continued to grow with 800 million Looms watched on the platform, totalling more than 3.6 billion minutes.
Loom also recently quantified the ROI of its video communication platform. Resulting insights include the fact that Loom users have 29% fewer meetings on average. Ninety-five percent of users say they reuse Looms as institutional knowledge. In addition, 64% of users say they feel more connected to teammates using Loom. In total, Loom has reduced over 200,000,000 meetings since its inception.
Market-leading customers like Brex, Tide, and LaunchDarkly are seeing this return on investment firsthand across critical business needs:
- Tide reduced meetings by 80% using Loom
- Brex replaced 1,273 meetings by using Loom within 90 days
- LaunchDarkly replaced 523 meetings within 90 days using Loom
“With Loom, I quickly produce several three or four-minute videos, each one targeted to specific functions. That’s a game-changer for me. It means I can get a lot more done, because I can communicate more effectively across different kinds of situations,” said Brandon Mensing, Principal Product Manager, Integrations & Dev Experience at LaunchDarkly. “I can guarantee you that every product manager I work with, who needs to send a video about something to someone, is going to be able to use Loom, be effective with it, and be productive with it.”
New Product Features and Functionality
The company also expanded Loom’s product offering and functionality significantly in 2022 to meet critical customer needs. This includes:
- Community Looms, now available in beta, provides a public space where users can publish Loom videos anyone in the world can watch and learn from.
- Video Stitching gives users the ability to stitch different Loom videos together, regardless of when and how they were recorded.
- Blur is a new beta feature allowing users to select and blur elements in the Chrome Browser in order to protect confidential information from recordings.
- Speaker Notes gives users the ability to prepare and read from key talking points or scripts in a movable window that is hidden from the final recording.
- Expanded Transcripts opened up access to automated transcription (and transcription-powered captions) to all users, improving usability, accessibility, and searchability of Looms.
- Touch-Up & Low-Light Adjustments expanded the way users can improve the appearance and lighting of their Looms.
“Effective communication is the mother of all skills; it’s essential for collaboration, particularly in the distributed work world. Loom’s growing adoption and impact this past year highlights a clear need for better, faster, and more seamless communication tools,” said Joe Thomas, CEO and co-founder of Loom. “We’re laser-focused on continuing to improve and expand our platform so we can meet the needs of our growing, globally distributed user base. All of this is in pursuit of our mission to enable effective communication, wherever work happens.”
About Loom
Loom is the video communication platform for async work that helps companies communicate better at scale. Loom makes it easy to record quick videos of your screen and camera and instantly share them with a link. More than 18 million users across more than 350,000 companies around the world trust Loom to share feedback, updates, intros, training, and more – every day. Founded in late 2015, Loom has raised $203M from world-class investors including Andreessen Horowitz, Sequoia, Kleiner Perkins, Iconic, and Coatue. To learn more please visit www.loom.com.
Contact:
Emily Busse
press@loom.com
