Matterport LLC is an American 3D spatial mapping company headquartered in

Sunnyvale, California Sunnyvale () is a city located in the Santa Clara Valley in northwestern Santa Clara County, California, United States. Sunnyvale lies along the historic El Camino Real (California), El Camino Real and U.S. Route 101 in California, Highway 1 ...

. It is a subsidiary of

CoStar Group CoStar Group, Inc. is an American provider of information, analytics, and marketing services to the commercial property industry in North America and Europe. Founded in 1987 by Andrew C. Florance and based in Arlington, Virginia, the company has ...

. The company was founded in 2011 as a private

startup A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship includes all new businesses including self-employment and businesses that do not intend to ...

and subsequently merged with a

special-purpose acquisition company A special-purpose acquisition company (SPAC; ), also known as a blank check company or a blind-pool stock offering, is a shell corporation listed on a stock exchange with the purpose of acquiring (or merging with) a private company, thus taking ...

in 2021 to commence public trading on the

Nasdaq The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...

before being acquired by CoStar in 2025. The current CEO is R.J. Pittman. Matterport produces cameras used to capture images for 3D mapping of indoor spaces and the creation of

digital twin A digital twin is a digital model of an intended or actual real-world physical product, system, or process (a ''physical twin'') that serves as a digital counterpart of it for purposes such as simulation, integration, testing, monitoring, and m ...

s. The company also provides various

software as a service Software as a service (SaaS ) is a cloud computing service model where the provider offers use of application software to a client and manages all needed physical and software resources. SaaS is usually accessed via a web application. Unlike o ...

for real estate and property management.

History

2011–2013: Founding as a startup

Matterport was founded as a private startup in 2011 by Matthew Bell, David Gausebeck (known for Gausebeck–Levchin test used in

CAPTCHA Completely Automated Public Turing Test to tell Computers and Humans Apart (CAPTCHA) ( ) is a type of challenge–response authentication, challenge–response turing test used in computing to determine whether the user is human in order to de ...

technology) and Michael Beebe. The company was established after Bell and Gausebeck developed a prototype camera for capturing 3D images inside a room using the

PrimeSense PrimeSense was an Israeli 3D sensing company based in Tel Aviv. PrimeSense had offices in Israel, North America, Japan, Singapore, Korea, China and Taiwan. PrimeSense was bought by Apple Inc. for $360 million on November 24, 2013. History Pri ...

camera-on-a-chip, and later recruited Beebe for his expertise in

3D modeling In 3D computer graphics, 3D modeling is the process of developing a mathematical coordinate-based Computer representation of surfaces, representation of a surface of an object (inanimate or living) in Three-dimensional space, three dimensions vi ...

and

medical device design Due to the many regulations in the industry, the design of medical devices presents significant challenges from both engineering and legal perspectives. Medical device design in the United States The United States medical device industry is one ...

. In early 2012, the company joined the startup accelerator

Y Combinator Y Combinator, LLC (YC) is an American technology startup accelerator and venture capital firm launched in March 2005 which has been used to launch more than 5,000 companies. The accelerator program started in Boston and Mountain View, Californi ...

to incubate their project. In April 2012, Matterport claimed that its prototype camera could scan 3D objects "20 times faster" and "18 times cheaper" than their competitors, and initiated collaborations with real estate and

video game A video game or computer game is an electronic game that involves interaction with a user interface or input device (such as a joystick, game controller, controller, computer keyboard, keyboard, or motion sensing device) to generate visual fe ...

developers. In that year, the company secured US$1.6 million in

seed funding Seed money, also known as seed funding or seed capital, is a form of securities offering in which an investor puts capital in a startup company in exchange for an equity stake or convertible note stake in the company. The term ''seed'' suggests ...

. Subsequently, by March 2013, Matterport raised another US$4 million from 39 investors to initiate a

Series A round A series A is the name typically given to a company's first significant round of venture capital financing. It can be followed by the word round, investment or financing. The name refers to the class of preferred stock sold to investors in excha ...

of financing. In July 2013, Matterport announced plans to release its first camera to the public. In November 2013, Bill Brown became the CEO of the company.

2014–2018: Early growth

Matterport launched their first camera named 'Pro 3D' on March 13, 2014. In June 2014, Matterport competed against 14 other early-stage real estate startups in

Realogy Anywhere Real Estate Inc., formerly Realogy (), is an American publicly traded real estate services company. It owns and franchises several real estate brands and brokerages, and offers consumer programs, lead generation, relocation, and tit ...

's FWD Innovation Summit, a real estate technology competition, and emerged as the winner. Subsequently, the company raised US$16 million in a

Series B A venture round is a type of funding round used for venture capital financing, by which startup companies obtain investment, generally from venture capitalists and other institutional investors. The availability of venture funding is among the ...

funding round, in part to bring its 3D mapping technology to

mobile device A mobile device or handheld device is a computer small enough to hold and operate in hand. Mobile devices are typically battery-powered and possess a flat-panel display and one or more built-in input devices, such as a touchscreen or keypad. ...

s. In June 2015, Matterport raised US$30 million in a

Series C A venture round is a type of funding round used for venture capital financing, by which startup companies obtain investment, generally from venture capitalists and other institutional investors. The availability of venture funding is among the p ...

funding round with the goal of diversifying from its camera products and enhancing its software for stitching images together in

virtual reality Virtual reality (VR) is a Simulation, simulated experience that employs 3D near-eye displays and pose tracking to give the user an immersive feel of a virtual world. Applications of virtual reality include entertainment (particularly video gam ...

. The company began scaling operations and shifted its focus to the consumer by accelerating the development of content-capturing capabilities on mobile devices and expanding its developer platform across its web and mobile apps. On December 3, 2018, Matterport appointed R.J. Pittman, who was previously the

Chief Product Officer A chief product officer (CPO), sometimes known as head of product or VP of product, is a corporate title referring to an executive responsible for various product-related activities in an organization. The CPO is to the business's product what th ...

eBay eBay Inc. ( , often stylized as ebay) is an American multinational e-commerce company based in San Jose, California, that allows users to buy or view items via retail sales through online marketplaces and websites in 190 markets worldwide. ...

, as its CEO. Bill Brown, the former CEO, remained on the company board as an advisor.

2019–2021: COVID-19 pandemic and SPAC merger

In April 2020, due to the

COVID-19 Coronavirus disease 2019 (COVID-19) is a contagious disease caused by the coronavirus SARS-CoV-2. In January 2020, the disease spread worldwide, resulting in the COVID-19 pandemic. The symptoms of COVID‑19 can vary but often include fever ...

pandemic, Matterport laid off 90 of its employees or roughly one-third of its workforce. On February 8, 2021, Matterport announced its intention to go public by merging with Gores Holdings VI, a

(SPAC), in a US$2.9 billion deal. The merger and deal were completed on July 23, 2021, and Matterport began publicly trading on the

as MTTR. Around the same time in July 2021, Bill Brown, the former CEO, sued Matterport over a bylaw regarding the SPAC merger acquisition that prevented him from trading shares of the new company following the merger. The court later ruled in favor of Brown on January 10, 2022.

2022–onwards: Post-merger and acquisition by CoStar

On January 5, 2022, Matterport completed the acquisition of Enview, a company that specializes in artificial intelligence for 3D spatial data, for a total of US$37 million. Subsequently, in July 2022, Matterport acquired VHT Studios, a real estate marketing agency, for an undisclosed amount. In July 2023, Matterport announced a

restructuring Restructuring or Reframing is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs. ...

of the company, which resulted in the layoff of 170 employees (equivalent to 30% of its workforce) as a cost-cutting measure. In September 2023, Matterport was sued by investors for "allegedly allowing self-dealing by insiders". On April 22, 2024, it was announced that Matterport would be acquired by the

for a cash and

stock Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporatio ...

deal valued at approximately US$1.6 billion. The acquisition was completed on February 28, 2025.

Products

Cameras

On March 13, 2014, Matterport launched their first camera named 'Pro 3D', targeting

contractors A contractor (North American English) or builder (British English), is responsible for the day-to-day oversight of a construction site, management of vendors and trades, and the communication of information to all involved parties throughout the c ...

, real estate companies and

architect An architect is a person who plans, designs, and oversees the construction of buildings. To practice architecture means to provide services in connection with the design of buildings and the space within the site surrounding the buildings that h ...

s, alongside a subscription-based cloud service and a web-based content player. In June 2017, Matterport launched their second camera, named 'Pro2', as an upgraded version of their first camera, featuring improved resolution and

geotagging Geotagging, or GeoTagging, is the process of adding geographical identification metadata to various media such as a geotagged photograph or video, websites, SMS messages, QR Codes or RgSSfeeds and is a form of geospatial metadata. This data ...

capabilities. The company subsequently launched a cheaper version of the camera named 'Pro2 Lite' in February 2018. In August 2022, Matterport launched a third camera named 'Pro3' as an upgrade to the 'Pro 2' camera, which features a

LiDAR Lidar (, also LIDAR, an acronym of "light detection and ranging" or "laser imaging, detection, and ranging") is a method for determining ranging, ranges by targeting an object or a surface with a laser and measuring the time for the reflected li ...

sensor.

Real estate and digital twin services

In 2016, Matterport developed a tool to generate

floor plan In architecture and building engineering, a floor plan is a technical drawing to scale, showing a view from above, of the relationships between rooms, spaces, traffic patterns, and other physical features at one level of a structure. Dimensio ...

s from their camera images. In January 2019, Matterport introduced a subscription-based platform called 'Cloud 3.0', which was supported by its image-processing

artificial intelligence Artificial intelligence (AI) is the capability of computer, computational systems to perform tasks typically associated with human intelligence, such as learning, reasoning, problem-solving, perception, and decision-making. It is a field of re ...

software known as Cortex. The platform aimed to lower the cost of entry into the 3D mapping technology space by enabling its software to be compatible with

360-degree camera In photography, an omnidirectional camera (from "omni", meaning all), also known as 360-degree camera, is a camera having a field of view that covers at least a full circle (360°) in the horizontal plane, up to a full sphere (Spat (angular unit), ...

s from other companies such as

Insta360 Arashi Vision Inc. (), doing business as Insta360, is a camera company headquartered in Shenzhen, China with offices in Los Angeles, Tokyo and Berlin. It makes action cameras, 360-degree cameras, Video editing software, editing software for mob ...

and

Ricoh is a Japanese multinational imaging and electronics company. It was founded by the now-defunct commercial division of the Institute of Physical and Chemical Research (Riken) known as the ''Riken Concern'', on 6 February 1936 as . Ricoh's hea ...

(specifically

Ricoh Theta Ricoh Theta is a line of 360-degree cameras by Japanese manufacturer Ricoh. All of the cameras are capable of 360-degree video and photos, with the exception of the original Ricoh Theta which can only take photos. Also, they all feature Bluetoot ...

Collaborations

In 2014, Matterport collaborated with other companies such as

Google Google LLC (, ) is an American multinational corporation and technology company focusing on online advertising, search engine technology, cloud computing, computer software, quantum computing, e-commerce, consumer electronics, and artificial ...

Project Tango Tango (named Project Tango while in testing) was an augmented reality computing platform, developed and authored by the Advanced Technology and Projects (ATAP), a skunkworks division of Google. It used computer vision to enable mobile devices, s ...

, an augmented reality platform, and with

Redfin Redfin Corporation is an American company that provides residential real estate brokerage and mortgage origination services. Based in Seattle, the company operates in more than 100 markets in the United States and Canada. In 2024, the company h ...

to create a 3D walkthrough feature for real estate listings. In July 2021, Matterport announced a collaboration with

Facebook Facebook is a social media and social networking service owned by the American technology conglomerate Meta Platforms, Meta. Created in 2004 by Mark Zuckerberg with four other Harvard College students and roommates, Eduardo Saverin, Andre ...

AI Research and released the Habitat-Matterport 3D Dataset (HM3D), a collection of 1000 digital twins generated from real-world environments that was intended for use in academic research such as in

embodied artificial intelligence Embodied cognition represents a diverse group of theories which investigate how cognition is shaped by the bodily state and capacities of the organism. These embodied factors include the motor system, the perceptual system, bodily interactions wi ...

. Matterport also partnered with

Amazon Web Services Amazon Web Services, Inc. (AWS) is a subsidiary of Amazon.com, Amazon that provides Software as a service, on-demand cloud computing computing platform, platforms and Application programming interface, APIs to individuals, companies, and gover ...

to provide 3D models and

data analytics Analytics is the systematic computational analysis of data or statistics. It is used for the discovery, interpretation, and communication of meaningful patterns in data, which also falls under and directly relates to the umbrella term, data sci ...

to the AWS IoT TwinMaker, a digital twin implementation service by

Amazon Amazon most often refers to: * Amazon River, in South America * Amazon rainforest, a rainforest covering most of the Amazon basin * Amazon (company), an American multinational technology company * Amazons, a tribe of female warriors in Greek myth ...

References

{{Authority control Companies formerly listed on the Nasdaq Special-purpose acquisition companies 2011 establishments in California 2024 mergers and acquisitions American companies established in 2011 Companies based in Sunnyvale, California Real estate services companies of the United States Remote sensing companies Software companies based in California Technology companies based in California Technology companies established in 2011