The firm’s investment in the tech company garnered 30 times its original valuation over a 3 year period
ORLANDO, FLORIDA, UNITED STATES, March 8, 2022 /EINPresswire.com/ — Phoenix Rising Investments, LLC, an Orlando-based investment and management firm, today announced that its investment in Matterport has grown to $20 million in valuation. The firm invested in Matterport (Nasdaq: MTTR) with a $1 million investment and saw that investment grow 30 times over with a current portfolio valuation in excess of $200 million.
Matterport is the leading spatial data company focused on digitizing and indexing the built world. Its 3D data platform enables users to turn spaces into immersive digital twins that can be used to design, build, operate, promote and understand any space. The Matterport platform offers its clients an easier way to visualize the potential of their spaces. The resulting digital twins have a variety of use cases, including in real estate, retail, travel and hospitality and more.
Phoenix Rising Investments invested $1 million in Matterport in 2018 when Matterport had a $150 million valuation. Since its initial investment, Phoenix Rising Investments has held all shares until last month when it sold 35% of its Matterport holdings at a valuation of $4.5 billion. The firm continues to hold onto its remaining shares based on Matterport’s continued growth potential, especially in light of the growing popularity and complexity of 3D digital imaging, virtual reality and the metaverse.
"Matterport is an incredible company, and we have thoroughly enjoyed the ride,” said Alex Reece, CEO of Phoenix Rising Investments. “It was just time for us to ring the register on part of the investment. We only sold 35% of our holdings, and we continue to have a strong belief in Matterport’s future. Their role in the metaverse is going to be enormous, and I believe that CEO RJ Pittman fully appreciates that opportunity and will take advantage of it in a major way."
Phoenix Rising Investments, LLC's investment in Matterport marks the firm's continued commitment to investing in lucrative technology companies and pre-IPO companies. It aims to invest in projects and businesses that show promise for future growth and success. The group recently also added Sandbox and Animoca to its portfolio, expanding its list of high-growth metaverse companies.
Phoenix Rising Investments, LLC
Orlando-based Phoenix Rising Investments, LLC seeks to invest in lucrative technology companies and pre-IPO companies. . The firm seeks out financially promising projects and businesses that are poised for future growth and success.
About Matterport
Matterport (Nasdaq: MTTR) is the leading spatial data company focused on digitizing and indexing the built world. Our all-in-one 3D data platform enables anyone to turn a space into an accurate and immersive digital twin, which can be used to design, build, operate, promote, and understand any space. To learn more, visit https://matterport.com/.
Alex Reece
Phoenix Rising Investments
Alexdreece@msn.com
