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EquityFundingNewsVC

Matterport Raises $39 Million: $153 Million Lifetime Raised11956

WGAN Forum
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Silicon Valley Business Journal (15 May 2020) The Funded: 10 Bay Area startups score $170M at week's end

"Matterport Inc., Sunnyvale, $40 million: The provider of 3D capture software disclosed its new funding in an SEC filing that doesn't say who participated. It previously raised over $100 million from investors who include DCM, Lux Capital, Red Swan Ventures, Qualcomm Ventures, AMD Ventures and Navitas Capital," reports Silicon Valley Business Journal.

Hi All,

Matterport raised $39,149,103 in additional equity since 29 April 2020 in a funding round offering $45,872,364; with $6,723,261 remaining to be sold, according to a U.S. Securities and Exchange Commission (SEC) public filing. Matterport declined to disclose the investors in this funding round.


Scren Grab from a U.S. Securities and Exchange Commission (SEC) public filing

Matterport has previously raised $114 million over 10 rounds, according to Crunchbase. In its Series D round on 5 March 2019 Matterport raise $48 million in additional equity from Qualcomm Ventures, Lux Capital, DCM Ventures and Concrete Venture Capital.

Equity raised by Matterport now totals $153 million; with potentially an additional $6,723,261 remaining to be sold in its most recent round, as of 15 May 2020 filing with the SEC.

Your thoughts?

Dan
Post 1 IP   flag post
WGAN Forum
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Atlanta
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Hi All,

I wonder which VCs invested in Matterport in this latest round.

My impression that it is unusual that a company would raise $39 million - and NOT disclose who invested.

This leads me to believe that the additional equity is from EXISTING investors. That might account for why Matterport let employees go: as in, if you want the additional investment to pursue the new Matterport Capture Services program rolled out to Matterport Service Providers Program during a webinar on Thursday, 16 April 2020, you need to reduce expenses significantly.

SVBJ: Matterport Lets Go 90 job: one-third of Matterport Employees

This leads me to believe that whatever Matterport is valued at is the same or less than the previous round in March 2019.

Otherwise, why not disclosure the VCs that participated in the May 2020 equity round?

Of course, I could be totally wrong.

What are your thoughts?

Dan
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3DVirtuallyThere private msg quote post Address this user
Maybe a real estate company bought in like Redfin, Keller Williams or Realtor.com
Post 3 IP   flag post
itsrichphoto private msg quote post Address this user
Is matterport broke? what do they need the financial stimulus for?
Post 4 IP   flag post
WGAN Forum
Founder
Atlanta
DanSmigrod private msg quote post Address this user
Quote:
Originally Posted by 3DVirtuallyThere
Maybe a real estate company bought in like Redfin, Keller Williams or Realtor.com


Good point.

FYI ... Realtor.com is owned by News Corp. News Corp. previously invested in Matterport in August 2016.

Ashton Kutcher/News Corp/CBRE invest in Matterport

Dan
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MeshImages private msg quote post Address this user
It's a good sign, that Matterport raised that money. I guess the Pro cameras are heavily subsidized, so they really needed this injection. Probably also the layoffs were demanded by the new financiers.

Let's hope that Matterport will be spending the money wisely on a new Pro camera or capturing system. After 5 years of more or less unchanged showcase player, Matterport needs new visual features to impress.

And I personally hope, that Matterport spends some of that money on the development of a ceiling trim tool.
Post 6 IP   flag post
WGAN Forum
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Atlanta
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Quote:
Originally Posted by @MeshImages
And I personally hope, that Matterport spends some of that money on the development of a ceiling trim tool.


Looks like Matterport will be spending some of the $39 million in new investment to expand in Asia/Pacific countries. ...

Matterport Capture Services Program to Expand to Asia/Pacific Countries

Dan
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