Apple iCloud’s Competitor Loom Raises $1.4 Million in Funding
A Y Combinator grad, Loom seeks to steal some market share from Apple’s sometimes frustrating iCloud. The company offers a Mac app, an iOS app, and a web portal that enables users to store and manage their media libraries in the cloud. Android support is planned for down the line.
The service received some major updates for its public launch, including an updated mobile interface optimized for iOS 7 and support for RAW image files.
Loom offers 5GB of storage for free, with additional storage available on a subscription basis. Three percent of Loom users purchase additional storage, but the company won’t disclose the size of its user base.
Because Loom doesn’t require a constant internet connection — mobile files sync when a connection is reestablished — the company views the service as a replacement for the iPhone’s default photo album.
Loom just announced a $1.4 million funding round with participation from Google Ventures, Tencent, Great Oaks VC, Overbrook Entertainment, Damon Way (founder of DC shoes), and a few additional angel investors. The company currently has eight employees.