Matterport Completes SOC 2 Milestone for Enterprise Customers
May 31 2022 - 9:15AM
Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company
driving the digital transformation of the built world, today
announced another important step in its commitment to protect and
secure customer data. An audit conducted by an independent
Certified Public Accountant (CPA) firm verified that Matterport's
platform meets rigorous SOC 2 Type II standards for
confidentiality, a key requirement for many of the company’s
Fortune 1000 customers and other enterprise organizations
evaluating the deployment of digital twins.
Salt River Project (SRP), a not-for-profit public power utility
and the largest electricity provider in the greater Phoenix
metropolitan area serving approximately 1.1 million customers, uses
Matterport to capture physical spaces and facilities to document
as-builts to achieve efficiencies regarding industrial-grade
operations and maintenance, and to reduce risk through digital
capture of mandated compliance requirements. For example, SRP
captures Matterport digital twins to conduct inspections,
collaborate, and create a digital library for ongoing reference.
Using Matterport digital twins, SRP also reduces the need to travel
across an infrastructure spanning hundreds of miles.“Information
security is of the highest concern for the utility industry, and
SOC 2 Type II attestation is a necessity for our organization as we
look for the right partner in creating digital twins of our sites
and utilizing spatial data to better serve our customers,” said
Russell Genet, Hydro ICE Supervisor for the Salt River Project. “We
would only consider partnering with an organization that takes our
data integrity and security as seriously as we do, and I believe
Matterport is showing that commitment with the completion of these
audits.” Created by the American Institute of Certified Public
Accountants (AICPA), SOC 2 is a reporting framework that sets
benchmarks for managing customer data across five categories:
security, availability, processing integrity, privacy and
confidentiality. After completing its SOC 2 Type II audit for
security, availability, and operational controls in 2021,
Matterport has now successfully completed a SOC 2 Type II audit for
confidentiality. “Collecting, securing, and properly managing
customer data is core to Matterport’s business,” said Japjit Tulsi,
Chief Technology Officer of Matterport. “The successful completion
of the next phase of our SOC 2 Type II audit on confidentiality
further demonstrates our commitment to ensuring controls are in
place to protect and secure customer data.” 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 562,000
subscribers in 177 countries have captured more than 7.3 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.
To learn more about Matterport’s products and services for
enterprise organizations and to contact sales, visit
matterport.com/enterprise.
About MatterportMatterport, 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 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 visit our Discover page to browse a collection
of digital twins captured by our customers.©2022 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 McDowdDirector,
Communicationspress@matterport.com +1 (650) 273-6999
Investor Contact: Soohwan Kim, CFAVP, Investor
Relationsir@matterport.com
Forward-Looking StatementsThis 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 for confidentiality, 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 documents filed by Matterport from time to time with the U.S.
Securities and Exchange Commission (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.
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