$2.8M Series A-1 funding enabling accelerated rollout of Matterport’s 3D camera and cloud-based technology to vertical markets
MOUNTAIN VIEW, California – September 12, 2013 – Matterport, Inc., the leading developer for cloud-based 3D models of interior spaces, today announced that it has raised a $2.8 million Series A-1 financing with participation from several renowned entrepreneurs, including Crate & Barrel founder Gordon Segal and Sling Media co-founder Blake Krikorian.
The Series A-1 funding brings the total capital raised to date to $10 million. Matterport investors include Lux Capital, Felicis Ventures, Greylock Partners, Navitas Capital, Qualcomm Ventures, and Red Swan Ventures, as well as prominent angel investors.
“Matterport is defining a new type of immersive imaging that allows people to capture, modify, and share 3D realities,” said Matt Bell, Matterport co-founder and CEO. “Once 3D sensors are embedded in cameras and mobile devices, this experience will be commonplace. We’ve spent the last year engaged with a set of early adopters in several industries through our Beta program. We’re now about to launch our version 1.0 commercially, and we have a very good definition of the feature set that’s needed on top of that base platform to drive rapid adoption of our system in these vertical markets. This round of funding will help us accelerate development of those new features.”
“We’re proud to welcome several great entrepreneurs as Matterport investors and shareholders,” said Peter Hebert, Co-Founder and Managing Partner of Lux Capital, and Matterport board member. “These individuals have founded and built remarkable companies, and can also personally help accelerate Matterport’s development of key vertical markets.”
Founded by entrepreneurs from Google, PayPal and SRI, and launched out of Silicon Valley’s Y Combinator, Matterport’s goal is to be able to replicate anything in the real world in the cloud. The company’s 3D camera and cloud-based software system allows professionals and consumers to create, modify, and experience cloud-based 3D digital models of physical spaces. The models give users an immersive, realistic walk-through of a space, allowing architects, designers, inspectors, and other users to experience what a space is like today and what it could be like if changes were made to flooring, paint, appliances, structures, and furnishings.
A number of industries, including retail, property insurance, indoor mapping, and construction management are already examining ways that they would benefit by using 3D models of indoor spaces to visualize, plan, inspect, and develop estimates.
Located in Mountain View, CA, Matterport is a technology company that has developed a system for automatically creating, modifying, and experiencing cloud-based 3D digital models of physical spaces. The models give users an immersive, realistic walk-through of a space, allowing them to experience virtually what a space is like today and what it could be like if changes were made to it. In addition to providing an immersive visual experience, the 3D models also contain accurate measurement data for the entire space, delivering linear distance between any two points and area measurements of any surface. With this powerful combination of complete visual and measurement data in a single digital model, the Matterport 3D solution is an extremely flexible tool that is incredibly useful for remotely visualizing, inspecting, assessing, measuring, staging, or planning any interior space.
MEDIA CONTACT: JESSICA BERG PRESS@MATTERPORT.COM +1-650-641-2241 EXT 140