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Collaboration introduces the Matterport platform to a new investor audience interested in engaging with leading technology companies
SUNNYVALE, Calif. — October 13, 2021 — Matterport, Inc. (Nasdaq: MTTR) today announced a collaboration with The Palm Beach Hedge Fund Association (PBHFA) to provide its membership a deeper understanding of the company’s spatial data platform and the opportunities the digital transformation of the built world represents. Made up of an exclusive group of hedge fund managers, family offices, and investors, Matterport will connect with the South Florida finance community through conferences, online discussions and networking events.
“We are thrilled to partner with Matterport, the leader in spatial data for the digitization and datafication of the built world. The company is truly on the bleeding edge of bringing properties into the digital realm,” said David S. Goodboy, Founder of the PBHFA. “Matterport meshes wholly with our mission of introducing our members and network to the most innovative, world changing investments. We cannot wait to see what arises from this collaboration.”
With more than four billion buildings and 20 billion spaces worldwide, the built world is the largest undisrupted market with less than 1% digitized. Worth an estimated $230 trillion, the global real estate market is the world’s largest asset class comprising commercial, residential, and industrial properties as well as educational and government buildings.
Matterport’s market-leading spatial data platform transforms any physical space into a dimensionally accurate and photorealistic digital twin, providing customers with unparalleled data insights needed to manage spaces more effectively than ever before. Over 404,000 subscribers in more than 150 countries use the Matterport platform to better access, manage and understand spaces – from a single property to a global portfolio of buildings.
“Matterport is quickly becoming the go-to platform for teams to collaborate when designing, building, managing or marketing spaces of any kind,” said JD Fay, Chief Financial Officer of Matterport. “We are excited to announce the partnership with PBHFA, and we will work together to reach new audiences to share the Matterport technology platform. I look forward to sharing the global growth opportunity in front of Matterport, as well as the value our technology provides to customers across the real property world, from residential and commercial real estate firms to facilities management and retail, construction, insurance, and travel and hospitality.”
With over 5.6 million spaces captured with the Matterport platform, the company leads the market. Matterprot’s subscribers capture and manage a wide variety real estate with the technology – everything from homes, offices, and stores to resorts, yachts, airplanes, and car showrooms. Research has shown that Matterport digital twins have helped close sale listings 31% faster, increase vacation rental conversions by up to 12%, and streamline the time it takes to design, construct or remodel properties by 50%.
About Palm Beach Hedge Fund Association (PBHFA)
The Palm Beach Hedge Fund Association (PBHFA.org) is a trade organization for hedge funds, financial professionals, ultra- high-net-worth investors, and family offices Membership is open to active hedge fund managers/ professionals, ultra-high net worth investors, family offices, financial traders, investment bankers, academics, financial institutions, FOFs, foundations, allocators, as well as selected service providers including third-party marketers, data providers, prime brokers, administrators, auditors, lawyers, risk managers, and financial technology firms. Learn more at www.pbhfa.org
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 150 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 browse a gallery of digital twins.
©2021 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:
Linda McNair
Senior Director, Communications
press@matterport.com
408.675.8427
Investor Contact:
Soohwan Kim, CFA
VP, Investor Relations
Forward-Looking Statements
This document contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the benefits of the business combination, the services offered by Matterport, Inc. (“Matterport”) and the markets in which Matterport operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations 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 Gores definitive proxy statement/information statement/prospectus contained in the registration statement on Form S-4 filed by Gores with the U.S. Securities and Exchange Commission (the “SEC”), including those under “Risk Factors” therein, and other documents filed by Matterport from time to time with 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.
