Matterport, a Sunnyvale, CA-based immersive media technology company, raised $5m in funding.
Ericsson Ventures made the investment joining previous backers Lux Capital, DCM Ventures, Qualcomm Ventures, AMD Ventures, AME Cloud Ventures, CBRE, Felicis Ventures, GIC, Crate and Barrel founder Gordon Segal, iGlobe Partners, Navitas Ventures, News Corp, and Sound Ventures.
The company plans to use the funds to accelerate its deep learning R&D efforts, extend its platform, and further its position in 3D and VR business solutions while building out its global infrastructure.
Led by Bill Brown, CEO, Matterport has built an advanced platform for creating, understanding, and distributing 3D models of real-world spaces. The company also has a large library of 3D space data, consisting of over half a million 3D models of real-world spaces, accelerating its use of deep learning to create AI-based computer vision technologies for the digital reconstruction and detailed understanding of spaces.
The company’s camera automates the creation of high-quality 4K 2D photography, 3D models and Web, mobile, and VR experiences, and floorplans. Together with the Matterport Cloud, the automated system offers customers a solution for capturing, distributing, and visualizing properties in 2D and 3D on Web, mobile and in VR.
Matterport serves customers across multiple industries, including residential real estate, multifamily, commercial real estate, vacation rentals, hotels, business listings, architecture, engineering, construction, insurance, and facilities management. To date, over 550,000 spaces have been captured, generating more than 220 million views globally.
The company, which also has a network of 2500+ service providers across 80 countries, has additional offices in San Francisco, Chicago, and its EMEA headquarters is in London.