Matterport Reinvents the Digital Twin with the Revolutionary Pro3 Camera and New Cloud Platform

SUNNYVALE, Calif., Aug. 30, 2022 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR), today introduced the all-new Matterport Pro3 Camera along with major updates to its industry-leading digital twin cloud platform. The Pro3 is a breakthrough in 3D capture technology, ready to digitize every aspect of the physical world, indoors and outdoors. Matterport’s next generation digital twin platform builds on the company’s groundbreaking immersive virtual experiences to enable advanced workgroup collaboration and productivity, delivering cost savings and revenue growth for organizations of all sizes, from small businesses to global enterprises.

These new offerings arrive as global demand for digital twins – visually immersive, interactive 3D models of buildings and spaces – continues to rise. Forrester Research reports 55% of global software technology decision makers are already adopting digital twins¹. As an industry leader, Matterport saw 52% growth in total subscribers in the second quarter compared to the year ago period, and already serves 23% of the Fortune 1000 with its digital twin platform.

“Today marks a pivotal breakthrough in 3D technology with the introduction of the most powerful products Matterport has ever created," said RJ Pittman, Chairman and Chief Executive Officer, Matterport. "Our new Pro3 camera and cloud platform create some of the world's most accurate, immersive and stunning digital twins. The opportunity has never been greater for companies to embrace the power of Matterport digital twins to transform their business."

Matterport for Enterprise
Digital twins empower business leaders to confidently navigate an uncertain economic environment while accelerating the productivity of a mobile and remote-first workforce; 79% of business leaders cite cost savings and 71% point to operational efficiencies as the key drivers of their digital twin investments². It’s why the new Pro3 camera and cloud platform were built for the demands of enterprises with scalability, reliability and security at the core, making Matterport’s digital twin platform one of the most trusted in the industry.

The new Pro3 camera and cloud platform advancements make it easier than ever for customers to create immersive digital twins. Customers across sectors – factories, retailers, hotels and airlines – report digital twins have reduced project times by 30% and cut travel expenses by up to 50% through greater remote collaboration. One commercial real estate customer reported closing sales up to 85% faster. Hospitality customers find bookings and occupancy rates increase 14% for properties with a digital twin. The benefits aren’t just for large enterprises – real estate agents using digital twins win up to 74% more listings and 71% of residential buyers say they would buy a home sight unseen if it had a 3D digital tour.

The Matterport Digital Twin Platform
Matterport has reimagined the cloud software platform that creates, publishes, and manages digital twins of buildings and spaces of any size or shape, indoors or outdoors. All of these new capabilities integrate seamlessly so customers can securely create immersive environments for their employees, customers and partners to collaborate and explore.

• Maximize productivity from a single digital twin with a new workgroup collaboration framework called Views, to enable groups and large organizations to create separate, permissions-based workflows to manage different tasks with different teams such as: virtual inspections, remote training, space planning, personalized virtual tours, and so much more.
  
  

Views create separate, permissions-based workflows from a single digital twin

• Increase customer engagement, productivity and sales conversions with all-new Guided Tours and Tags to elevate the visitor experience. Now marketing and sales teams can create directed virtual tours of any commercial or residential space tailored to the interests of their visitors, and operations teams can create guided virtual training courses for remote workers.
• Go further with Matterport Capture Services, now supercharged with the new Pro3 camera to get the highest quality professional digital twin from an on-demand capture technician in major cities around the world. Capture Services for Enterprise can now digitize a single space to a portfolio of thousands of buildings, indoors and out. From retail chains to hotel property groups and corporate campuses – it has never been easier to get a dimensionally accurate, photorealistic Matterport digital twin to manage properties online.

 

Matterport Capture Services, now supercharged with the new Pro3 camera

Matterport Capture Services brings your property to life, available on-demand globally

• Take the entire Matterport platform wherever you go with a fully enabled mobile solution that brings together capture, customization, view, edit, publish and restore capabilities to digital twins with the new Matterport App for iOS and Android devices.
  

Immersive collaboration available anywhere with the Matterport App

The Matterport Pro3 Camera

The Matterport Pro3 Camera provides the highest accuracy digital twins of indoor and outdoor spaces

The Matterport Pro3 Camera is the most advanced Matterport 3D capture device with a powerful combination of sensors working in harmony to create stunning images, both indoors and outdoors. No other camera combines the incredible power of this device at this price point, making 3D capture more widely accessible.

With a custom 20 megapixel sensor and 12-element lens covering an ultra-wide angle, the Pro3 camera produces accurate, detailed digital twins in brilliant, life-like color. Breakthroughs in the high-precision LiDAR sensor enable the capture of millions of measurements in various conditions, from dim light to direct sunlight, up to a range of 100 meters at less than 20 seconds per sweep.

The custom 20MP Pro3 lens covers an ultra-wide angle for life-like digital twins in any environment

The Pro3 camera revolutionizes 3D capture, setting new standards for speed, fidelity, versatility and accuracy. Where interactive mesh previously had a 50k polygon limit, it is now unlimited and the mesh for large spaces can easily exceed one million polygons. New digital twins are now streamed on demand as the user moves through a space, available on mobile and web platforms for all users for faster load times, quicker frame rates, and much more detail without compromising performance.

Matterport’s Cortex AI engine is upgraded to capture 5x higher range, enabling customers to transform their interior and exterior spaces, even when encountering difficult foliage, lighting and reflective surfaces. The combined power of the new Matterport Digital Twin platform, Pro3 and upgraded Cortex AI result in some of the most accurate, immersive and stunning digital twins ever created.

“The Pro3 camera reflects years of advanced R&D and listening closely to our customers. The result is a breakthrough in 3D capture technology,” said Lou Marzano, Vice President of R&D and Manufacturing. “The demands of the digital-first industry push our product standards to new levels, making precision, range, and mobility critical to our customers’ success. We put all of this together into a portable device that achieves a new threshold for price-to-performance of commercial LiDAR capture. Some of our largest enterprise customers have already put Pro3 to the test – capturing large outdoor venues from stadiums to campuses with speed and accuracy never before seen. Like the Pro1 and Pro2 that came before it, the Pro3 camera is in a class by itself and I am so proud of the team behind yet another industry first.”

The Pro3 camera is Matterport’s lightest and most compact camera, designed for maximum portability

With a striking new design that’s uniquely Matterport, Pro3 is packed with groundbreaking features including:

• Custom built 20 megapixel sensor and 12-element lens for ultra-wide capture of large spaces
• Captures 100k points per second at depths ranging from 0.5m to 100m
• High-precision LiDAR sensor for unparalleled precision in various light conditions
• Camera boot time of less than 40 seconds
• Removable battery packs for continuous scanning, batteries fully recharge in 3.5 hours
• Weighing under five pounds, Pro3 is 30% smaller and 35% lighter than the Pro2 camera
• New tripod mount engineered for Pro3 and new cases for maximum portability and protection
  

Pricing and Availability
The Matterport Pro3 Camera is available for purchase at matterport.com/pro3 or through one of Matterport’s partners, including: Amazon, B&H Photo and Video, and Adorama.

• Matterport Pro3 Camera is priced at $5,999 USD and includes:
  • Pro3 Camera in Carry Case
  • One Tripod Mount
  • One Battery and Charging Kit
  • One Year Warranty
• The Matterport Pro3 Acceleration Kit offers the best value at $7,995 USD. This bundle includes everything needed for a full day of capture:
  • Pro3 Camera in Carry Case
  • 10 Matterport E57 high density point cloud files to complete large projects quickly ($890 USD value)
  • 10 MatterPaks to extract floor plans, point cloud files, and OBJ files from digital twins ($500 USD value)
  • One Tripod Mount
  • Two Batteries with One Charging Kit
  • One Tripod, Wheeled Dolly, Two Door Stops, One Hard Case, and One Backpack
  • 3-year Warranty on Pro3 Camera and Tripod Mount ($2,000 USD value)
• Accessories available separately in the US, UK and European Union through Amazon. For pricing information, visit Matterport’s website.

Pro3 camera availability varies by region.

• Customers in North America may place orders today with estimated shipments in early September 2022.
• Customers in the EMEA region can place orders soon with estimated shipments in early October 2022.
• Customers in the APAC region can place orders online soon with estimated shipment of early October 2022.
  

For more information about the Pro3 camera and Matterport’s new digital twin platform, visit matterport.com

About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at Matterport.com and visit our Discover page to browse a collection of digital twins captured by our customers.

©2022 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners.

Media Contact:
Steve Lombardi
VP, Communications and Business Affairs
press@matterport.com

Investor Contact:
Soohwan Kim, CFA
VP, Investor Relations
ir@matterport.com

Forward-Looking Statements

This document contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Matterport, Inc. (“Matterport”) and the markets in which Matterport operates, business strategies, industry environment, potential growth opportunities, and Matterport’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including Matterport’s ability to implement business plans, forecasts, and other expectations in the industry in which Matterport competes, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Matterport from time to time with the U.S. Securities and Exchange Commission (the “SEC”). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Matterport assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Matterport does not give any assurance that it will achieve its expectations.

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¹ Forrester Research, “Jekyll And Hyde: The Dual Role of Emerging Tech in Environmental Sustainability”, 04/22
² Source: Capgemini Research Institute, Digital Twins survey, September-October 2021, N=1,000 organizations.

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