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Matterport

Residential PropTech
Extended Reality
Commercial PropTech
Digital Twin
Product stageSegments
Growth
?
Virtual Viewing
?

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%). 

Residential PropTech

Residential PropTech

Key stats
Featured companies
170
Total funding (USD)
18.1 Bn
Total addressable market (USD)
53.1 Bn
Key competitors
 
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Company profile
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EDGE Insights

Advanced Manufacturing (Q1 2024): Partnerships and product updates drive activity despite funding decline
Advanced Manufacturing (1H 2023): Partnerships and product development stay strong despite funding dip
The Extended Reality journey: Are we there yet?

Recent Updates

M&A
Apr 22, 2024
CoStar Group to acquire Matterport in a cash and stock transaction
Digital Twin
M&A
Apr 22, 2024
CoStar Group to acquire Matterport in a cash and stock transaction
Residential PropTech
Product updates
Feb 15, 2024
Matterport launches Property Intelligence to enhance property marketing, design and construction, and facilities management
Residential PropTech
Partnerships
Feb 8, 2024
Matterport partners with Visiting Media to enhance sales enablement for hospitality sector
Digital Twin
Partnerships
Feb 1, 2024
Matterport partners with Arcadus to offer digital twin platform for public sector
Digital Twin
Partnerships
Nov 14, 2023
Matterport partners with Belden to deliver digital twin connectivity solutions
Digital Twin

Company Brief


HQ location:
352 East Java Drive Sunnyvale CA USA
Founded year:
2011
Employees:
501-1,000
Total Funding:
USD 409.0 million
Last Funding
USD 295.0 million, Jul 2021

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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