Matterport

Matterport is a leading provider of all-in-one 3D data platforms that can make digital twin copies of a real-world place (room, building, or outdoor space) or object. The platform can be used to design, build, operate, and understand any space. The technology is currently available to many industries, including the real-estate sector. According to the company, thousands of businesses across more than 130 countries have used Matterport, including large enterprises as well as startups. In February 2024, Matterport launched Property Intelligence , an AI-powered tool that allows users to automate measurements, layouts, and editing, with reporting capabilities generated from a Matterport digital twin of their property.

In the real-estate sector, Matterport enables companies to scan properties they list and provide a digital copy to their clients. By just clicking the links, clients can walk through the houses to see every little detail at any time. Its clients include Coldwell Banker, Sotheby’s International Realty, and Redfin.

The price for using the technology ranges between USD 9.99 and USD 689 per month, depending on the number of active models (i.e., spaces) that can be explored, edited, and shared.

In January 2022, Matterport acquired Enview, an AI-based 3D spatial data analytics platform. Through this acquisition Matterport was to leverage Enview’s technology to support the development of its spatial data analytics platform which would be capable of providing insights and business intel by optimizing operations and management on any physical space. The company also acquired real estate marketing platform VHT Studios in June 2022. This was done in order to integrate VHT Studios’ digital marketing services into Matterport's 3D digital twin technology and expand its product offerings to enter other verticals such as commercial real estate, travel and hospitality, and the retail sector.

Key customers and partnership

In June 2023, Matterport partnered with CompuSoluciones, a Mexico-based technological solutions distributor for companies, to utilize its sales teams to enter and distribute its digital twin platform, Pro3 and Pro2 cameras targeted at SMEs, and other enterprises within Mexico and Colombia.

Funding and financials   

In July 2021, Matterport merged with the special-purpose acquisition company (SPAC) Gores Holding VI at an equity valuation of USD 2.9 billion. As part of the transaction, the company received approximately USD 605 million in cash (net of fees) including around USD 310 million (net of redemptions) from the SPAC and USD 295 million in additional financing led by investors Tiger Global Management, Senator Investment Group, and Dragoneer Investment Group. 

Matterport reported total revenue of USD 157.7 million for FY2023 (up 16% YoY), compared to total revenue of USD 136.1 million recorded in FY2022. Despite this, the company incurred a non-GAAP net loss of USD 65.8 million for FY2023, compared to a non-GAAP net loss of USD 116.7 million in FY2022. For FY2024, Matterport expects to generate total revenue in the range of USD 173 million – 183 million (implying a YoY growth of 19%–22%).