Total amount raised
$104 Million
Latest funding date
7/1/2021
Location
Matterport has successfully raised funding over 13 rounds, with the latest being a Post-IPO Equity round. The company is backed by 38 investors, including notable names such as Untitled Investments, Dragoneer Investment Group, and BlackRock.
Keep reading to explore the intricacies of Matterport's fundraising journey and the investors backing this innovative platform.
What Is Matterport?
Matterport, based in Sunnyvale, California, specializes in digitizing spaces into accurate, immersive 3D digital twins. The company operates in various industries, including 3D technology, cloud computing, data visualization, PropTech, and virtual reality.
Founded with a vision to revolutionize how spaces are captured and shared, Matterport has grown to employ between 251 and 500 people. The company has been acquired by CoStar Group and is publicly traded under the ticker BMV:MTTR.
Matterport's platform is widely used in corporate real estate, property marketing, facilities management, and design & construction, offering tools that enhance decision-making, increase confidence, and improve operational efficiency.
How Much Funding Has Matterport Raised?
- Post-IPO Equity
- Amount Raised: USD 295,000,000
- Date: July 2021
- Lead Investors: BlackRock, Dragoneer Investment Group, Fidelity, Lux Capital, Miller Value Partners, Senator Investment Group, Untitled Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support company growth and expand its 3D digital twin platform.
- Series D
- Amount Raised: USD 48,000,000
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: USD 325,000,000
- Motivation Behind the Round: To expand the platform and develop Matterport Cloud 3.0.
- Series C
- Amount Raised: USD 35,000,000
- Date: June 2015
- Lead Investors: Qualcomm Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product development and market expansion.
- Series B
- Amount Raised: USD 16,000,000
- Date: July 2014
- Lead Investors: DCM Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market presence.
- Series A
- Amount Raised: USD 2,800,000
- Date: September 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund initial product development and market entry.
Total Amount Raised: USD 396,800,000. Current Valuation: Not publicly disclosed.
Key Investors
- BlackRock
- Details: BlackRock is a global investment management corporation based in New York City. It is one of the world's largest asset managers, with a wide range of investment products and services.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Apple, Microsoft, Amazon.
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is a San Francisco-based investment firm. It focuses on long-term investments in high-quality growth businesses.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Airbnb, Spotify, Uber.
- Fidelity
- Details: Fidelity Investments is a multinational financial services corporation. It offers investment management, retirement planning, portfolio guidance, and brokerage services.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Tesla, Alphabet, Facebook.
- Lux Capital
- Details: Lux Capital is a venture capital firm that invests in emerging science and technology ventures. It is known for backing companies that are developing breakthrough technologies.
- Investment Focus Areas: AI, robotics, advanced materials.
- Notable Investments: Zoox, Auris Health, Kallyope.
- Qualcomm Ventures
- Details: Qualcomm Ventures is the investment arm of Qualcomm Incorporated. It focuses on early to growth-stage companies in the wireless ecosystem.
- Investment Focus Areas: Wireless technology, AI, IoT.
- Notable Investments: Zoom, Waze, Fitbit.
What's Next for Matterport?
Matterport stands at the cusp of significant growth opportunities, driven by its innovative 3D imaging platform. The company aims to expand its image library to 100 million 3D images, leveraging AI to convert 2D images into 3D, making the technology more accessible and affordable. This expansion is poised to meet the rising demand for realistic and immersive experiences in various sectors, including real estate, design, and insurance.
Future fundraising opportunities appear promising, with the recent $48 million round setting the stage for larger growth rounds. Strategic hires and technological advancements will likely attract further investments, supporting Matterport's ambitious growth plans. However, the company faces challenges such as competition from other 3D imaging startups and the need to continuously innovate its AI and imaging technologies to stay ahead in the market.
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