Matterport, a Sunnyvale, CA-based immersive media technology company, received an additional investment from the State Auto Labs Fund, managed by Rev1 Ventures.
The amount of the deal was not disclosed. With this investment, State Auto Labs joins Lux Capital, DCM Ventures, Qualcomm Ventures, Ericsson 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 as investors in Matterport.
The investment will go toward accelerating the company’s expansion in the insurance industry, further extending 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 almost one million 3D models of real-world spaces.
Its solution provides customers a means to digitally capture, document, visualize and collaborate around properties in 3D on web, mobile and in VR. Together with the Matterport Cloud, the system automates the creation of 3D models, high-quality 4K 2D photography, floorplans and other key assets to enable complete documentation of a property’s features, dimensions, conditions and contents at any point in time.
The company 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 900,000 spaces have been captured, generating more than 300 million views globally. The company also has a network of 3000+ service providers across 90 countries.
Matterport also has additional offices in San Francisco, Chicago, and EMEA headquarters in London.