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

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

 Matterport Capture Services with Pro3

Matterport Capture Services, now supercharged with the new Pro3 camera

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

Immersive collaboration available anywhere with the Matterport App
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 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 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
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:

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.

Pro3 camera availability varies by region.

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.


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.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/a0a539e6-d18c-4235-be20-b4752eaad546
https://www.globenewswire.com/NewsRoom/AttachmentNg/662660ad-abd9-431a-ba08-fac5f796496e
https://www.globenewswire.com/NewsRoom/AttachmentNg/cbf1240e-323d-4341-a4f9-acab75d0970b
https://www.globenewswire.com/NewsRoom/AttachmentNg/c8775582-88e0-4f2d-a438-fc52c79bbc2a
https://www.globenewswire.com/NewsRoom/AttachmentNg/03ffc7bd-54ea-4b9c-8c9a-acdd87f93cd7
https://www.globenewswire.com/NewsRoom/AttachmentNg/2cdb9b54-399a-40e3-8a1f-8b1e895dacdf
https://www.globenewswire.com/NewsRoom/AttachmentNg/f14b7fe6-4a09-4214-a064-22c7fb2ca568


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Matterport Digital Twin Platform - Views

Views create separate, permissions-based workflows from a single digital twin
Matterport Capture Services – Supercharged with Pro3

Matterport Capture Services, now supercharged with the new Pro3 camera
Matterport Capture Services – Available On-Demand Globally

Matterport Capture Services brings your property to life, available on-demand globally
New Matterport App for iOS and Android

Immersive collaboration available anywhere with the Matterport App
Matterport Pro3 Camera – A Revolution in 3D Data Capture

The Matterport Pro3 Camera provides the highest accuracy digital twins of indoor and outdoor spaces
Matterport Pro3 Camera – Ultra-Wide Lens For Life-Like Digital Twins

The custom 20MP Pro3 lens covers an ultra-wide angle for life-like digital twins in any environment
Matterport Pro3 Camera – Designed With Portability In Mind

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