Matterport to Join Russell 2000 Index
Matterport, Inc. the leading spatial data company driving the digital transformation of the built world, will join the Russell 2000® Index at the conclusion of the 2022 Russell indexes annual reconstitution. The Russell 2000® Index is a subset of the Russell 3000® Index composed of small-cap stocks. The annual reconstitution will be effective after the US market opens on June 27, according to a preliminary list of additions posted June 3.
Membership in the Russell 2000 Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
“We are pleased Matterport has been added to the Russell 2000 Index,” said JD Fay, Chief Financial Officer at Matterport. “This further validates the company’s industry leading position, strong execution, and significant accomplishments over the last year including going public on the Nasdaq and raising a total of $745 million. The Index will help to increase awareness and extend the reach of Matterport’s compelling value proposition for the $327 trillion asset class we call the built world. Our key markets include the Fortune 1000 as well as small and medium sized businesses in residential and commercial real estate, facilities management and retail, travel and hospitality, and insurance all over the world.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
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. More than 100,000 businesses use the Matterport digital twin to support their digital transformation initiatives, including KLM, Orangetheory Fitness, and Cushman and Wakefield and we extend the reach of our technology through leading technology companies such as Autodesk and AWS.