Matterport Partners with Arcadus to Deliver Digital Twins to US Public Sector With Federally Compliant Matterport for Government Offering
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The partnership between Matterport and Arcadus represents a strategic move to expand the reach of Matterport's Digital Twin Platform within the United States public sector. This collaboration is likely to open new revenue streams for Matterport by leveraging Arcadus's established relationships with government agencies. The public sector's need for digital transformation, particularly in facilities management and infrastructure development, could lead to increased demand for Matterport's solutions.
Given the size and spending power of the public sector, this partnership has the potential to significantly impact Matterport's financial performance. Investors should monitor the adoption rate of Matterport's platform in the public sector as an indicator of the partnership's success. An increase in government contracts could result in upward revenue trends for Matterport, which would be a positive signal for shareholders and potential investors.
The announcement highlights Matterport's compliance with federal cloud requirements, which is a critical factor for technology adoption in the public sector. Ensuring that their platform meets stringent government standards can reduce legal and regulatory barriers, facilitating smoother entry into the market. Additionally, Arcadus's role in providing access to government purchasing vehicles could streamline the procurement process, potentially accelerating the adoption of Matterport's technology.
From a legal standpoint, the partnership must navigate various compliance frameworks, including cybersecurity and data privacy regulations, which are particularly stringent in the public sector. The ability of both Matterport and Arcadus to maintain these standards will be essential for the longevity and scalability of their collaboration.
Investors should consider the long-term financial implications of this partnership. Matterport's entry into the public sector, if successful, could diversify its revenue base and reduce reliance on private sector sales. This diversification may also mitigate sector-specific risks and potentially stabilize earnings.
Furthermore, the public sector's long procurement cycles and budgeting processes mean that revenue from this partnership may not be immediate but could provide a steady income stream once established. The financial health of Matterport should be evaluated based on its capacity to manage the upfront costs associated with this expansion and its ability to convert this partnership into profitable contracts.
Arcadus becomes the first valued-added reseller of Matterport for Government, offering Matterport’s Digital Twin Platform to the United States public sector
SUNNYVALE, Calif., Feb. 01, 2024 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR), the leading digital twin platform to access, understand and utilize properties, announced a partnership with Arcadus, a leading reseller of digital transformation products and services for the public sector, to offer the Matterport Digital Twin Platform to its customers in the United States.
Arcadus is a leading value-added reseller of 3D, spatial data and related digital twin services, helping organizations advance their operations with digitally-enabled solutions. Arcadus’ clients include federal, state and local agencies across facilities, public safety, education, housing, social services, conservation and energy, as well as regulated industries like utilities, aerospace & defense, insurance, and manufacturing.
Matterport first entered the public sector in 2021 with the Matterport for Government SaaS offering, providing a turnkey solution for federal agencies to assess, manage, and improve their spaces’ operating condition—all online, in a Federally-compliant cloud.
With this agreement, Arcadus will become the first value-added reseller of Matterport’s digital twin platform for the public sector, offering the company’s three core solutions in Property Marketing, Design & Construction, and Facilities Management. Arcadus will support Matterport with access to various government purchasing vehicles, additional support services, and enabling seamless engagement with public sector agencies, contractors, and integrators.
“As a company dedicated to the 3D spatial data and digital modeling space, Arcadus looks forward to bringing Matterport’s products and solutions to agencies and other regulated organizations,” said Javan Clark, Founder & Principal of Arcadus. “Matterport’s hardware and software are incredibly easy to use, and Arcadus is committed to maintaining that same experience in the acquisition and support of these 3D digital twin capabilities.”
“As organizations continue to embrace the value of Matterport, the public sector remains a significant opportunity for growth,” said Jay Remley, Chief Revenue Officer, Matterport. “Our partnership with Arcadus adds more powder to our efforts to drive progress and excellence across the U.S. public sector, empowering federal, state, and local agencies to revolutionize how they assess, manage, and optimize their spaces with our federally compliant digital twin platform."
To learn more about Matterport for Government and the company’s public sector offerings, visit: Matterport for Government.
About Arcadus
Arcadus is a leading provider of digital transformation solutions tailored for the public sector. We serve federal agencies, state and local governments, regulated industries, and non-governmental organizations with a commitment to harnessing the power of digital twins and cutting-edge technologies. Our mission is to seamlessly transition organizations from their present state to a more advanced and efficient version. By implementing affordable, high-value, and low-risk solutions, we infuse technology innovatively and ensure tangible results with the desired outcomes for our clients.
About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking digital twin 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.
©2024 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.
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press@matterport.com
Investor Contact:
ir@matterport.com
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