MDOTM announced that it has closed a $27 million growth equity round led by Expedition Growth Capital. The financing brings MDOTM’s total investment to $36.5 million.
MDOTM is a global provider of AI-driven investment solutions for asset and wealth management companies.
Founded in London in 2015, the company now serves more than 60 financial institutions across the U.S., U.K., and Europe.
Its customers include major financial institutions such as Morgan Stanley, Amundi, and Zurich Bank.
MDOTM’s AI investment platform, Sphere, supports over $100 billion in assets under management.
The company said demand for its platform is growing as asset and wealth management firms increasingly adopt AI to manage portfolio complexity at scale.
The funding will accelerate the global expansion of Sphere and support hiring across AI research, engineering, product development, sales, and client solutions.
As part of the round, Steve Twomey, partner at Expedition Growth Capital, and James Hays, chairman of IFC Advisors, received board seats.
Hays was previously CEO of Wells Fargo Advisors and has nearly 40 years of financial services industry experience.
They join CEO Tommaso Migliore, Chief Scientist Federico Mazzorin, and Chief Operating Officer Federico Invernizzi on MDOTM’s board.
MDOTM said asset and wealth managers are facing fee compression, rising demand for personalization, and increasing portfolio orchestration complexity.
The growing number of investment opportunities and AI-generated insights requires firms to manage more inputs, constraints, and decisions across thousands of portfolios.
Sphere was developed to address these challenges at scale.
The platform analyzes market and macroeconomic data to identify market regimes and deliver forward-looking insights across asset classes.
Sphere also allows investment teams to incorporate their own market views and convictions.
These inputs are translated into portfolio construction and rebalancing tools that help users build, customize, and manage portfolios at scale.
Sphere’s generative AI capabilities also support investment teams by automatically creating personalized portfolio commentary and client reporting.
MDOTM said the result is an end-to-end AI workflow for investment teams managing thousands of portfolios simultaneously.
The platform is backed by a team of more than 60 data scientists, engineers, and finance experts.
It is also supported by MDOTM LAB, an academic network of more than 20 professors and PhDs conducting research at the intersection of machine learning, portfolio management, behavioral finance, and AI ethics.
MDOTM is based in London, with offices in New York and Milan.
Expedition Growth Capital is a software and AI-focused growth equity firm with offices in London and Boston.
KEY QUOTES:
“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.”
Tommaso Migliore, CEO of MDOTM
“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.”
Steve Twomey, Partner at Expedition Growth Capital
