Video messaging tool Loom is on a mission to empower its 25 million users at 400,000 companies to cut down on repetitive and inconvenient meetings and get things done across time zones.
In addition to redesigning and simplifying its desktop recorder—which allows users to capture the activity on their screens and share it with colleagues in demos and more—it launched an AI suite in August 2023 to make video creation even easier. It can create titles, summaries, and transcripts with support for 50+ languages. It can break recorded videos into chapters and suggest action items based on video content. And it can remove your “ums” automatically so you don’t have to do 37 takes to try to cut down on filler words.
Within a month of the AI suite launch, the company found that these new tools boosted viewer engagement by 18% and that 23% of users were relying on more than one of the new AI features in every video they created. Between the August launch and the end of 2023, Loom AI enhanced 15 million videos and allowed users to record and share videos 60% faster. The company says 96% of users report that Loom AI is valuable, indicating the AI features save time (83% of users) and add polish and professionalism (64%). New features added to the AI suite in January include an automatic composer that drafts a message or email you can use to share your video once you’ve made it.
Back in October, collaboration software behemoth Atlassian—home of Jira, Trello, Confluence, and other products—announced it was acquiring Loom for $975 million.
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