Loom Reaches New Usage Milestones, Expands Product Offering
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:
“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 communcate 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:
“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.”
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