Why We Led Loop Team’s Seed Round
By Vic Singh
Today, we are excited to announce the launch and our seed investment into Loop Team. We led the seed round back in early 2019 with our friends from Crosslink, Golden, Hack VC, Parade, Precursor and Redpoint. Our bet in Loop Team was largely a team bet coupled with what we believed back then was a prevailing trend — the movement of desk workers to a more distributed workplace. This was well before the COVID-19 pandemic but the secular trend was already showing strong tailwinds and we believed this would persist. Obviously the trend to remote and distributed was catalyzed by COVID, spawning a whole ecosystem of products and services for the distributed worker. We believe Loop Team has the right approach to win in this booming market.
The Virtual Office product that Loop Team announced today is inherently taking a unique approach in the market. The company’s core mission is deep presence — the ability to feel connected with what is happening in an organization and what has happened — in a way that garners empathy and drives productivity.
While the experience and product feels very lightweight, it was a massive undertaking to build. The front end presence layer is deeply integrated with most applications used by small teams within an enterprise. One can quickly discern if a colleague is coding, working in a spreadsheet, idle to chat and more through a simple interface that leverages best of breed AI technology and enables coworkers to quickly drop into ad-hoc meetings through lightweight audio and video. The front end presence layer is supported by deep AI summarization technology born out of SRI which surfaces the most relevant and personalized components of a discussion to the end user so they can know and act on what has happened.
The team at Loop Team led by Raj Singh, Jag Srawan and Rolf Rando are some of the most experienced founders in the enterprise communications and productivity category. Eniac partnered with Raj’s last company, a smart calendar platform Tempo which was acquired by Salesforce. We’ve known Raj and team for over a decade and we’ve enjoyed the journey of building a category defining product and are excited to partner once again!
Try out Loop Team for yourself and stay in the loop.