MDOTM Ltd., a London-founded provider of artificial intelligence tools for asset and wealth managers, has raised $27 million in growth equity financing led by Expedition Growth Capital. The funding brings the company’s total investment to $36.5 million and is intended to accelerate international growth as financial institutions look for more scalable ways to manage increasingly complex portfolio decisions. MDOTM plans to invest in its AI research, engineering, product development, sales and client-solutions teams as it expands the reach of its Sphere platform.
A Scale-Up Round for Institutional AI
The round signals a new stage for MDOTM, which was established in 2015 and now operates across London, New York and Milan. Its software is used by more than 60 financial institutions in the United States, United Kingdom and Europe, with clients cited by the company including Morgan Stanley, Amundi and Zurich Bank. Sphere currently supports more than $100 billion in assets under management, placing MDOTM among a growing group of firms building AI infrastructure for institutional investment workflows.
The transaction also changes the company’s board composition through the addition of Steve Twomey, a partner at Expedition Growth Capital, and James Hays, chairman of IFC Advisors and a former chief executive of Wells Fargo Advisors. They join MDOTM co-founder and chief executive Tommaso Migliore, co-founder and chief scientist Federico Mazzorin, and chief operating officer Federico Invernizzi. Their appointments combine MDOTM’s technology leadership with investors and executives who bring experience in scaling financial software and wealth-management businesses.
Addressing Portfolio Complexity
MDOTM is positioning Sphere as a platform for investment teams that must coordinate market signals, house views, client preferences and portfolio constraints across large numbers of accounts. The company says the system analyzes market and macroeconomic data to identify changing market conditions, while allowing users to introduce their own investment convictions into the process. Those inputs can then be converted into portfolio-construction and rebalancing workflows designed to help teams build, customize and oversee portfolios at scale.
This focus reflects mounting pressure on asset and wealth managers to provide more tailored services while controlling costs. Fee compression has made it harder to simply add investment professionals as portfolios, products and client requirements proliferate, while the availability of AI-generated signals can itself create more decisions to assess. In that environment, the value proposition for AI is not solely insight generation but the ability to operationalize decisions consistently, with investment teams retaining oversight of the process.
From Insights to Client Communications
Sphere combines analytical and generative AI capabilities across several stages of the investment workflow. Alongside its market-insight and portfolio-management tools, the platform can automate personalized portfolio commentary and client reporting, tasks that can otherwise require substantial manual effort from investment and relationship-management teams. MDOTM argues that bringing these functions together can help organizations deliver a more consistent experience from research and allocation decisions through to client-facing explanations.
Expedition Growth Capital’s investment thesis centers on the operational gap between traditional back-office or client-facing software and the portfolio work that often remains dependent on spreadsheets. Twomey said institutional buyers increasingly require explainability and governance alongside automation, particularly when technology is used in investment-related processes. That emphasis is likely to be central to MDOTM’s growth strategy as it competes in a market where adoption depends on integrating AI without reducing institutional control.
MDOTM’s new financing gives the company resources to expand its commercial and technical teams while pursuing demand in the United States and Europe. The round also underlines how AI adoption in asset and wealth management is shifting from experimentation toward production systems that support the management of large, individualized portfolio books. For MDOTM, the next test will be whether Sphere can maintain the governance, customization and scale that institutional clients expect as the company broadens its global footprint.