Matterport Announces $30M Series C Funding

Today marks an important milestone for Matterport and all of our stakeholders.  Earlier today we announced that we raised $30M in a Series C financing round led by Qualcomm Ventures.

This funding comes at an exciting time for us. The Matterport Pro Camera, which was just launched last summer along with 3D Showcase and the Matterport Cloud, is enjoying great adoption in the real estate industry, as well as other industries like apartment rentals, hotels and resorts, construction management, and other unique applications like capturing cultural heritage locations.

We’re excited about the positive response we’ve received and for our passionate customers and partners who we endeavor to delight everyday.  Your engagement has been essential, and with this funding, we look forward to building upon our success through continued platform innovation and feature enhancements, while also scaling our operations to support strong demand and a growing business.

We’ve certainly covered a lot of ground in one short year, but there’s so much more to do.  We’re literally building a new medium, one that will allow all of us to experience any place at any time as if we were truly there.  And so with this funding, we also plan to significantly extend our virtual reality content publishing platform, by both accelerating our mobile capture development for VR and AR applications and launching our Matterport Developer Platform for VR, web and mobile apps.

Pursuing these objectives leverages two significant changes in the way consumers engage with and capture immersive content.  The first is the launch of VR headsets like Oculus Rift, Gear VR, and Google Cardboard that allow consumers to fully immerse themselves in virtual environments that are amazingly realistic.  The other is the upcoming introduction of mobile devices with 3D sensors, led by companies like Qualcomm and Google on the new Project Tango smartphone and Intel with RealSense, that will enable consumers to create their own virtual environments.

We know that building a new visual medium will not be easy, but it is the guiding vision of our company and one that excites us everyday.  We also know that we won’t be able to achieve our vision without the active participation of our devoted community of users, developers, and enthusiasts.  We hope you join us for what promises to be an amazing journey, and we look forward to sharing many great successes in the years to come.