Matterport Raises $16 Million in Series-B Funding

With the Spatial computing industry taking the world by a storm, it seems developments are occurring at every turn. In a press release published last week, it was announced that Matterport raised $16 Million in Series B Financing. This latest round of funding was led by DCM Ventures, with AME Cloud Ventures. Matterport pride themselves in being the Only End-to-End 3D Platform. This platform combines hardware, the cloud and mobile applications for users to maximize what they can get out of their images. They currently offer a specialized, pattented 3D camera for $4500 they goes best with their cloud platform which ranges from $49-149 per month. The camera is controlled through the user’s Apple iPad, and works best indoors as it uses light to measure distance.

On their website they describe their end-to-end service in three stages:

1) Capture: Scan and upload 3D data to the cloud with our Matterport Pro 3D Camera or with mass-market mobile devices.

2) Create & Host: Matterport cloud-processing technology generates and hosts fully immersive models from captured 2D and 3D data.

3) Interact & Share: Matterport’s web and mobile apps allow anybody to interact with 3D models anywhere—with just a browser.

The camera uses a combination of both 2D and 3D sensors to capture the depth, shape and appearance of an object within a given space. This allows their cloud based technology to recreate a virtual replica within a matter of minutes.

Jason Krikorian, general partner at DCM said, “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.”

Funding Details

Founded in 2011, Mountain View, California based Matterport have now raised around $ 26 Million in a combination of seed and venture capital investments. Other investors to this round include: Gordon Segal, Blake Krikorian, Rothenberg Ventures, Navitas Capital, Qualcomm Ventures, AMD Ventures, Greylock Partners, Felicis Ventures, and Lux Capital.

Their Series-A round of funding occurred last year and was led by Blake Krikorian and Gordon Segal, for $2.8 Million. Their Seed funding occurred over two years with the first round in 2012 by Red Swan, Y Combinator, Felicis Ventures for $1.6 Million, and the second in 2013 for $5.6 Million, from Rothenberg Ventures, BoxGroup, Red Swan, Lux Capital, Felicis Ventures, Greylock Partners, and Qualcomm Ventures.