Matterport Announces Successful Completion of SOC 2 Type II Audit

Rhea-AI Summary

Matterport (Nasdaq: MTTR) announced the successful completion of a SOC 2 Type II audit, conducted by Frank, Rimerman + Co. LLP, ensuring compliance in security and privacy for its spatial data platform. This independent audit confirms Matterport's commitment to maintaining effective operational controls and data management for its over 430,000 subscribers worldwide. As Matterport expands its enterprise services, it continues to invest in security infrastructure to support and enhance customer trust in its digital solutions.

Positive

• Successful completion of SOC 2 Type II audit assures security and privacy for customers.
• Matterport has over 430,000 subscribers in 170 countries, indicating strong market presence.
• Continued investment in security infrastructure supports enterprise-level solutions.

Negative

• None.

Company ensures strict compliance in security and privacy for spatial data platform customers

SUNNYVALE, Calif., Nov. 22, 2021 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced it has successfully completed a SOC 2 Type II Service Organization Control (SOC 2) audit for its platform and services. Performed by independent Certified Public Accountant (CPA) firm, Frank, Rimerman + Co. LLP, the audit provides an objective evaluation of the effectiveness of controls involving operations and compliance at Matterport.

Created by the American Institute of Certified Public Accountants (AICPA), SOC2 is a reporting framework that sets benchmarks for managing customer data. The completion of the SOC 2 Type II audit attests Matterport’s commitments to maintaining proper security, availability, and operational controls are in place for managing its spatial data platform and services.

“Matterport is committed to earning our customers’ trust, and we demonstrate this by maintaining their data security and availability within our platform and systems,” said Japjit Tulsi, Chief Technology Officer of Matterport.com. “The completion of the SOC 2 Type II audit demonstrates both our level of commitment to Enterprise service and transparency in our operations. As Matterport expands globally and enables new and larger enterprise customers to capture spatial data, we will continue to invest in best-in-class systems to deliver secure, enterprise-level solutions to our customers.”

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 430,000 subscribers in more than 170 countries have captured over six million spaces to better access, manage and understand them - from a single property to a global portfolio of buildings. The company is investing significant resources to help its customers securely scale and leverage digital twins as a collaboration tool with their clients and partners.

Learn more about Matterport for Enterprise here. For more information on Matterport’s security controls, visit https://www.matterport.com/trust.

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 170 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:
Tim McDowd
Director, Communications
press@matterport.com
Phone: 650-273-6999

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

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 the expected benefits of completing the SOC2 Type II audit, 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.

FAQ

What does the SOC 2 Type II audit mean for Matterport (MTTR)?

The SOC 2 Type II audit signifies that Matterport has met established benchmarks for data security and operational controls, enhancing customer trust.

How many subscribers does Matterport (MTTR) have?

Matterport has over 430,000 subscribers across more than 170 countries.

When was the SOC 2 Type II audit completed for Matterport (MTTR)?

The SOC 2 Type II audit was announced on November 22, 2021.

What are the implications of Matterport's (MTTR) audit completion for investors?

The successful audit may enhance investor confidence by demonstrating Matterport's commitment to security and operational integrity.