SYS-CON MEDIA Authors: Carmen Gonzalez, Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel

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
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect...
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will w...
"ElasticBox is an enterprise company that makes it very easy for developers and IT ops to collaborate to develop, build and deploy applications on any cloud - private, public or hybrid," stated Monish Sharma, VP of Customer Success at ElasticBox, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The term culture has had a polarizing effect among DevOps supporters. Some propose that culture change is critical for success with DevOps, but are remiss to define culture. Some talk about a DevOps culture but then reference activities that could lead to culture change and there are those that talk about culture change as a set of behaviors that need to be adopted by those in IT. There is no question that businesses successful in adopting a DevOps mindset have seen departmental culture change, ...
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 Internet of @ThingsExpo, James Kirkland, Chief Ar...
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from ha...
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective ...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.