Matterport Fall 2024 Release: 'Insights Meets Imagination' Elevates the Platform With Generative AI and More

Rhea-AI Summary

Matterport (MTTR) has unveiled its Fall 2024 Release, introducing a suite of AI-powered tools designed to revolutionize property management and marketing. Key features include:

• An AI-powered defurnish tool that can remove clutter from virtual property listings with a single click
• An AI-generated property description tool that creates detailed, engaging written descriptions in seconds
• A Merge tool for combining multiple digital twins into cohesive 3D tours of large properties
• Field Tags for real-time documentation during property scanning
• One-click bill-back processing for streamlined expense allocation

These innovations aim to enhance efficiency and creativity for real estate agents, contractors, and property managers, transforming digital twins from static replicas into dynamic canvases for reimagining spaces.

Positive

• Introduction of AI-powered defurnish tool to enhance property visualization
• Launch of AI-generated property description tool for efficient marketing
• Development of Merge tool for creating comprehensive 3D tours of large properties
• Implementation of Field Tags for real-time on-site documentation
• Addition of one-click bill-back processing for simplified expense allocation

Negative

• None.

News Market Reaction

-0.89%

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-0.89% News Effect

On the day this news was published, MTTR declined 0.89%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Matterport introduces essential new tools for real estate agents, contractors and designers

SUNNYVALE, Calif., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Matterport, Inc., today unveiled a groundbreaking suite of new tools designed to reshape the way professionals design, build, and market properties.

Through the power of generative AI, Matterport users can now easily reimagine the potential of any space, transforming digital twins from static replicas into dynamic canvases for creativity.

“Our Fall 2024 Release empowers users to unlock the full potential of Matterport,” said RJ Pittman, Chairman and CEO of Matterport. “Imagine being able to defurnish a home with one click or generate stunning property descriptions automatically, using just the data from your digital twin. These tools save time, elevate listings, and simplify complex workflows for everyone—from real estate agents to contractors and enterprise teams. And with features like 3D model merge, field tags, and one-click bill-back processing, we’re helping customers manage spaces at scale with unprecedented speed, efficiency and precision.”

New tools for agents:

One of the most revolutionary additions in the Fall Release is Matterport’s AI-powered defurnish tool, designed to solve a common challenge for home sellers and agents: clutter. With a single click, users can now transform a cluttered living room or messy garage into a clean, open space—allowing potential buyers to visualize the home’s true potential. Whether it’s “erasing” an outdated couch or clearing out the dining room set, defurnish gives agents a powerful yet simple tool to make every property shine.

Matterport’s new defurnish tool uses AI to remove furniture and other objects from virtual property listings.

And coming soon, Matterport’s interior design tools will unlock creativity for everyone—letting users digitally furnish and redesign spaces with ease and offering a glimpse of what the future could hold.

The AI-powered property description tool is another game-changer, crafting detailed, engaging written descriptions in just seconds. Brokers and marketers can select the style and tone, ensuring each listing is perfectly tailored—whether it’s a sleek, modern downtown loft or a charming suburban home. And by leveraging the precise spatial data of every digital twin, the tool creates content that is not only beautifully written but also accurate down to the last detail, saving hours of work and producing results that even seasoned experts will admire.

New tools for property managers, contractors, and designers:

For large-scale projects, Matterport’s new Merge tool enables users to seamlessly “snap” together multiple digital twins. Imagine creating a full digital model of an entire hotel, floor by floor, or merging every floor of a high-rise office tower into one cohesive 3D tour of the building. Merge also allows multiple team members to scan different sections of a property simultaneously and integrate them later, making it possible to capture and manage even the most expansive buildings quickly and efficiently.

Field Tags further enhance the efficiency of on-site work by allowing users to add on-site observations and tags during the scanning process. No more repeat visits to capture missed details—everything can be documented in real-time, ensuring accurate, comprehensive records of the space are captured at the moment they matter most. This feature keeps teams aligned and projects moving forward without unnecessary delays.

Lastly, Matterport introduces one-click bill-back processing, a highly anticipated feature for enterprise customers. This simple yet powerful tool removes the headache of manual invoicing and cost allocation, allowing organizations to easily distribute expenses across departments and external partners. By automating billing processes, Matterport reduces administrative burdens and empowers teams to focus on what matters most.

Visit Matterport’s Fall 2024 Release page to see everything in action.

About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking platform turns buildings into data to make 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 browse a gallery of digital twins.

Investor Contact:
ir@matterport.com

Media Contact:
press@matterport.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/83e3edfc-cc12-4080-aa67-89389c7f2562

This press release was published by a CLEAR® Verified individual.

FAQ

What new features did Matterport (MTTR) introduce in its Fall 2024 Release?

Matterport's Fall 2024 Release introduced several AI-powered tools, including a defurnish tool, property description generator, Merge tool for combining digital twins, Field Tags for real-time documentation, and one-click bill-back processing for expense allocation.

How does Matterport's (MTTR) new AI-powered defurnish tool work?

Matterport's AI-powered defurnish tool allows users to remove furniture and clutter from virtual property listings with a single click, transforming cluttered spaces into clean, open areas to help potential buyers visualize a property's true potential.

What is the purpose of Matterport's (MTTR) new Merge tool?

Matterport's new Merge tool enables users to seamlessly combine multiple digital twins, allowing for the creation of comprehensive 3D tours of large properties such as entire hotels or high-rise office buildings, improving efficiency in capturing and managing expansive spaces.

How does Matterport's (MTTR) AI-generated property description tool benefit real estate agents?

Matterport's AI-generated property description tool creates detailed, engaging written descriptions in seconds, saving real estate agents hours of work. It leverages precise spatial data from digital twins to produce accurate content tailored to specific property styles and tones.