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
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to o...
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...