Click here to close now.




















Welcome!

News Feed Item

Matterport Raises $16 Million in Series B Financing to Lead 3D Expansion

DCM and AME Cloud Ventures Join Existing Investors to Fuel Continued Growth of 3D in Professional Markets, Mobile Devices and Cloud Services

MOUNTAIN VIEW, CA -- (Marketwired) -- 07/07/14 -- Matterport, a leader in computer vision and 3D computational photography, today announced that it has raised $16 million in a Series B financing led by DCM Ventures, with AME Cloud Ventures also joining as a new investor. Other Matterport investors include Lux Capital, Felicis Ventures, Greylock Partners, Navitas Capital, AMD Ventures, Qualcomm Ventures, Rothenberg Ventures, Sling Media founder Blake Krikorian, and Crate & Barrel founder Gordon Segal.

"The Matterport team has figured out a way to solve the critical technology and business model problems that have kept 3D on the fringes," said Jason Krikorian, general partner at DCM. "3D is going to happen much quicker than most people think, especially when you think of mobile devices enabled by 3D sensors and consider all of the market activity in that space. Matterport is leading the creation of that 3D future."

The funding will allow Matterport to continue to drive innovation in both professional-class 3D solutions and future consumer-targeted mobile 3D media and apps. In March, Matterport launched the first fully automated solution for creating complete, photo-realistic, dimensionally accurate models of real-world spaces. The Matterport Pro 3D Camera, 3D Capture iPad App, Cloud Service, and Web-based Player are a breakthrough in digital 3D reconstruction, moving the cost of recreating a space from tens of thousands of dollars to tens of dollars.

Matterport has also partnered with industry leaders such as Google to deliver the same high-quality 3D reconstruction of spaces on tablets and smartphones and will be delivering a real-time mobile application for capturing 3D images as soon as the first tablets with 3D sensor capabilities become available. In February 2014, Matterport showed the first complete photo-realistic room reconstruction using a Google Tango device and has been working on a production version of its mobile 3D Capture app, capable of creating 3D models of spaces or objects in real time or in the cloud, for release with the first set of Tango tablets.

"As Matterport continues down its path of innovation, the accessibility of apps through the Matterport development platform will be a key driver as their 3D capabilities move to mobile devices," said Jerry Yang, founder of AME Cloud Ventures and co-founder of Yahoo.

"Right now, Matterport is building its business based on professionals, starting with markets like real estate and home-related retail, with a high-quality, cost-effective 3D capture system tied to a set of consumer accessible Web-based apps," said Bill Brown, CEO of Matterport. "At the same time, we see the long-term opportunity to completely change the definition of digital media and are investing in developing easy-to-use applications that capture and generate high quality 3D media across a range of 3D-enabled mobile devices and an application platform to enable third party app developers to make use of this content with a variety of applications."

3D Showcase
Matterport is also announcing the addition of a new feature to its cloud platform. The Matterport 3D Showcase incorporates HDR images within a dimensionally accurate 3D model to enable online viewers to see, experience, and navigate through a space naturally in photo-perfect clarity. Initially aimed at the real estate market, a 3D Showcase gives prospective buyers an engaging, immersive photo quality perspective of a home from virtually any point of reference, giving a much better sense of the property than image galleries, 360 panoramas, or even expensive fly-through videos. In addition, a 3D Showcase provides a unique "dollhouse view" or top-down 3D view of the entire inside layout of a property as seen from the outside.

In June, Matterport won the grand prize at the FWD Innovation Summit, sponsored by Realogy Franchise Group, the largest franchisor of residential and commercial real estate brokerage offices in the world. Realogy brands include Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, ERA, NRT, and Sotheby's International Realty.

3D: The New Visual Medium
The idea behind Matterport's 3D Showcase and the Matterport platform for professional markets, as well as consumer mobile devices, is to bring 3D imagery to the mainstream. The technology will permit photographers and individuals to capture and/or experience immersive images without complex equipment, technical training, or high costs.

Founded by data scientists and computer vision specialists from Google, Reactrix, SRI, and PayPal, Matterport was founded on the idea of creating a new form of 3D media and making it as accessible as 2D photography is today. By combining the computational power of the cloud with advanced techniques for organizing spatial data and an innovative camera design, Matterport has developed a platform that can accurately create 3D media.

Matterport's applications enable end-users to access 3D media through Matterport Web and Mobile applications, while the company's soon to be released 3D application framework enables third party application developers to deliver applications that use Matterport 3D content.

The Matterport platform consists of three elements: a 3D imaging device, such as the Matterport Pro 3D camera or, in the near future, smartphones, tablets and accessory 3D cameras running Matterport 3D Capture software; the Matterport Cloud, which processes the data collected locally into high-resolution 3D models and then makes the content available either via simple links to websites or as embedded WebGL; and software applications from Matterport and third parties that run on the Matterport Cloud and allow consumers to experience and interact with the media in 3D.

The Matterport Pro Camera, released in March, costs $4,500 and is targeted at professionals such as real estate photographers, property management companies, or brokerages. Matterport expects that development versions of mobile devices capable of running Matterport 3D Capture applications will be available shortly, with consumer devices launching in 2015.

ABOUT MATTERPORT
Located in Mountain View, CA, Matterport develops technology for capturing, creating, experiencing, and modifying 3D photographic models. To learn more please visit our web site at matterport.com.

FOLLOW US ON:
Twitter: @Matterport
Facebook: https://www.facebook.com/MatterPort
LinkedIn: http://www.linkedin.com/company/2500599

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Palerra, the cloud security automation company, announced enhanced support for Amazon AWS, allowing IT security and DevOps teams to automate activity and configuration monitoring, anomaly detection, and orchestrated remediation, thereby meeting compliance mandates within complex infrastructure deployments. "Monitoring and threat detection for AWS is a non-trivial task. While Amazon's flexible environment facilitates successful DevOps implementations, it adds another layer, which can become a ...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.