Matterport and Apex enable retail and restaurant brands to digitize, organize and utilize building information across stores like never before

Rhea-AI Summary

Matterport, Inc. (Nasdaq: MTTR) announced a partnership with Apex on July 27, 2021, to provide retail brands in the U.S. and Canada with enhanced access to building data through ApexView powered by Matterport. This solution will enable retailers to efficiently manage store information, reducing data collection time and costs. Clients including Starbucks and Home Depot will benefit from a customized dashboard and AI search engine to optimize store management. The collaboration aims to digitize and index the built world, enhancing insights and accelerating decision-making for retailers.

Positive

• Partnership with Apex enhances data accessibility for retail brands.
• The joint solution aims to significantly reduce time and costs in store management.
• Clients can leverage advanced AI tools for better insights and decision-making.
• Key clients include reputable brands like Starbucks and Home Depot.

Negative

• None.

SUNNYVALE, Calif. & POMONA, Calif., July 27, 2021 /PRNewswire/ -- Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced its partnership with Apex, a national provider of advanced store surveys, to enable retail brands across the U.S. and Canada to access, collect and evaluate building data and information from all of their stores in one place. This new joint solution, ApexView powered by Matterport, will help retail enterprises to manage their stores more efficiently and accelerate decision-making so they can go to market faster.

"Brands with a large number of locations have struggled for decades from a lack of information about stores, making it difficult for everyone to make quick business decisions - from field-based employees to the CEO," said Dan Cardona, Chief Operating Officer of Apex. "Together with Matterport, we want to empower all business units to access digital twins of their retail stores, and find the information they need on that space in minutes so they can move projects forward faster. In doing so, customers will be able to cut thousands of hours in data collection, save hundreds of thousands of dollars in travel and labor costs, and increase speed to market and ROI across initiatives."

Leveraging Matterport's spatial data, Apex further enables its clients, which include Starbucks, Home Depot, 7/11, Fresh Market, and Chipotle, to extract greater value by digitizing their entire store portfolios ranging from 25 to 25,000 locations. ApexView powered by Matterport offers enterprise customers a customized online dashboard and AI-enabled search engine that allows enterprises to better understand store survey data captured by a data capture team. This process creates highly detailed digital twins that include both the high fidelity visual appearance and dimensional information of each store, giving retailers unparalleled intelligence of their building assets at any point in time and from any device.

The joint solution also leverages Matterport's deep spatial indexing capabilities, which turns the built world into data. Retail and restaurant brands can do a full audit of a space, essentially turning imagery into structured data for usage purposes. Through object recognition, building characteristics will become searchable for better facilities management across a fleet of locations. For instance, fixtures such as flooring, lighting and shelves can be counted digitally and automatically, rather than having to send team members to count these physically in each store. Retail facility teams can also quickly locate equipment imagery and serial numbers for efficient repair. This saves considerable time and cost by surfacing information about any object in any location, as well as enabling more effective facilities management. With space auditing, retailers will also be able to perform automatic metadata collection, workflow orchestration, and query and analyze spaces at scale to derive business insights from every space in their multi-store portfolio.

With ApexView powered by Matterport, retailers can more effectively collaborate with vendors and partners in design, facilities, operations, and estates to move projects forward faster, enable global facilities management teams to conduct virtual site visits and automate store audits at scale. In partnering with Apex, Matterport is furthering its mission of digitizing and indexing the built world so that users can have more ways of searching, exploring and focusing on usable data in a space.

Click here for video: https://vimeo.com/545562558/928e1b0d71

"With Apex, we've brought a powerful solution to market that helps restaurants and retailers know anything about any store at any time - all in one place," said Jay Remley, Chief Revenue Officer of Matterport. "No longer do they have to send employees to stores to manage facilities, collaborate on merchandising strategy, or conduct safety inspections. Now, retail brands can have a complete virtual understanding of everything in their stores so that they can cut costs, plan more efficiently and make faster decisions. This partnership is a game-changer for the retail and restaurant industry."

About Apex
Apex is a nationwide solution provider for retail, restaurant, and petroleum industries. Over the last 60 years, Apex has brought high-volume and high-velocity solutions to America's greatest brands to make managing and improving stores simpler. To learn more about Apex Tech and schedule a free demo of the tool, go to ApexTechSolution.com

About Matterport
Matterport is leading the digital transformation of the built world. Our groundbreaking spatial computing platform turns buildings into data making 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 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.

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.

Investor Contact:
Soohwan Kim, CFA
VP, Investor Relations
ir@matterport.com

Media Contact:
Naomi Little
Global Communications Manager
press@matterport.com  
+44 203 874 6664

View original content to download multimedia:https://www.prnewswire.com/news-releases/matterport-and-apex-enable-retail-and-restaurant-brands-to-digitize-organize-and-utilize-building-information-across-stores-like-never-before-301342711.html

SOURCE Matterport, Inc.

FAQ

What is the ApexView solution by Matterport?

ApexView powered by Matterport is a joint solution designed to help retail brands manage and access building data efficiently.

How will the Matterport and Apex partnership impact retail brands?

The partnership aims to streamline data collection and management, leading to faster decision-making and cost reduction.

What companies are using the ApexView solution?

Retail brands such as Starbucks, Home Depot, and Chipotle are among the clients benefiting from this collaboration.

When was the Matterport and Apex partnership announced?

The partnership was announced on July 27, 2021.

What stock symbol does Matterport operate under?

Matterport operates under the stock symbol MTTR.