Matterport to acquire AI production platform Arraiy
The 3D camera and data company has announced its intentions to acquire Arraiy, machine learning and computer vision technology that allows visual creators to integrate real and virtual worlds.
Often seen as one of the largest proptech companies in the world, used by JLL, Colliers and CBRE, over 1.6m assets have been scanned and photographed with Matterport cameras and software.
Upon completion, the acquisition will integrate Arraiy’s core engineering team into Matterport.
RJ Pittman, CEO of Matterport, said by integrating Arraiy’s technology and team, the global firm “will be able to accelerate the creation of new products and features that will make Matterport significantly more powerful and accessible to both new and existing users.”
Matterport’s platform allows real estate companies to create, modify, and distribute 3D models of real-world space. This has allowed the company to collect a large amount of 3D space data for industries including real estate, architecture, construction, insurance, hospitality and more.
Cofounder of Arraiy, Gary Bradski, said: “Matterport’s technology has harnessed the power of computer vision and deep learning to transform multiple industries throughout the built world. We see fresh potential to further disrupt these markets by leveraging our combined advancements in the field of computer vision and machine learning.”
It’s been a busy week for Matterport with the company also announcing the appointment of former Google executive Jay Remley as chief revenue officer.
Most recently, Jay was chief revenue officer for a Series A startup, assessing its readiness to scale and invest in go-to-market channels.
Before that, he spent nearly eight years at Google in various executive roles where he led regional and global business teams across Google Enterprise, Google Commerce, and Google Cloud and Maps.
Remley said he is “excited” to join the Matterport team and added the firm has built an “amazing platform that scales from SMB to Enterprise to meet a large market need.”
RJ Pittman, CEO of Matterport said: “Jay’s experience will prove immensely valuable as we expand Matterport’s services globally to new enterprise customers, partners, and developers who seek to deploy unique applications with Matterport’s industry-leading 3D capture technology and spatial data — familiar territory for Jay with his experience leading large-scale business units for Google.”
Jay also brings over 20 years of real estate investing experience as the founder and president of Mile27 Realty.