MDOTM Ltd., the London-founded provider of AI-driven investment technology for asset and wealth managers, banks and insurers, has closed a $27m growth equity round led by Expedition Growth Capital.
The fresh capital takes MDOTM’s total funding to date to $36.5m. Alongside the investment, two new board members have joined the company: Steve Twomey, partner at Expedition Growth Capital, and James Hays, chairman of IFC Advisors and former CEO at Wells Fargo Advisors, who brings close to four decades of industry experience. They sit alongside CEO Tommaso Migliore, chief scientist Federico Mazzorin and chief operating officer Federico Invernizzi.
Established in London in 2015, MDOTM has built a client base spanning more than 60 financial institutions across the US, UK and Europe, including names such as Morgan Stanley, Amundi and Zurich Bank. Its AI platform, Sphere, now underpins over $100bn in assets under management.
The new funding is earmarked for expanding MDOTM’s international footprint and growing its headcount across AI research, engineering, product development, sales and client solutions, as financial institutions continue to seek scalable AI tools.
MDOTM’s Sphere platform is designed to work alongside human investment teams, processing market and macroeconomic information to spot emerging market conditions and produce insights across different asset types, while still allowing investment professionals to apply their own judgement.
These insights then feed into tools for constructing, adjusting and managing portfolios at scale. Sphere also uses generative AI to produce tailored portfolio updates and client reports automatically, creating what the company describes as a complete investment workflow for teams overseeing large numbers of portfolios at once.
MDOTM CEO Tommaso Migliore said, “Asset and Wealth Managers are no longer asking whether to use AI in investment decisions, but how to deploy it at scale across thousands of portfolios while maintaining control.
“That is exactly what Sphere was built to enable, which is why leading financial institutions are already running the platform in production. This investment will help us expand our team and meet accelerating demand in the US and European market.”
Expedition Growth Capital partner Steve Twomey said, “Financial institutions have spent the last decade buying back-office and front-end software, but the work in the middle still happens in spreadsheets: rebalancing, keeping portfolios aligned with house views and generating client commentary. MDOTM has built the AI infrastructure that finally scales that work, with the explainability and governance institutional buyers demand.”
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