Innovation success for Mudano

Published: 17 December 2018

Data specialist Mudano is expanding in Edinburgh after securing almost £7m investment funding. We spoke to chief executive Ed Broussard.

Your business in brief?

Mudano is a data and machine learning company, founded in 2014. We work with large financial services companies to fundamentally change the value they can extract from their data. This helps them offer better service to their customers, run their businesses more effectively and support strategic decisions.

...there are several factors that supported our decision to base our research and development centre in Edinburgh. These include strong government agency support for innovative research and development projects – and a strong pipeline of talent in data and data science disciplines.

Ed Broussard, chief executive, Mudano

 

Our services cover the full spectrum of a data strategy. By focusing on new technologies, we bring an entirely new perspective; helping our clients reimagine the art of the possible with data. As data innovation specialists, we are frequently called on to advise senior leadership teams on how to use their data to ensure the right decisions are being taken to achieve the company vision.

For example, we’ve developed analytics which use advanced machine learning techniques and cutting edge visualisation to give deep insights into how customers purchase financial products, helping our clients redesign the customer experience. We’ve also helped our clients reimagine how core activities like fraud detection, data quality analysis or data management can be completely revamped with new technology and thinking, providing them exponentially more value and security.

Mudano uses project data analytics and machine learning to deliver large-scale IT change programmes.

Tell us about your fundraising?

Mudano was initial funded from personal assets by the founders and has been profit-funded since. We’ve achieved three years of 100%, year-on-year growth.

The founders started the company when they became disillusioned with the existing consulting industry. Whilst the firm remains entirely in private ownership, more than 5% of the company has already been given to staff.

In early 2018, Mudano announced a £6.9m investment in their artificial intelligence project management platform, Sharktower, with the support of a £2.6m grant from Scottish Enterprise. This also marked the creation of our R&D centre in Edinburgh, which acts as the core of our research and development.

How does being based in Edinburgh help you?

Our headquarters are in London, but there are several factors that supported our decision to base our R&D centre in Edinburgh. These include strong government agency support for innovative R&D projects – and a strong pipeline of talent in data and data science disciplines. There are also excellent links to academia here, such as The Data Lab, which is focused on partnering with tech businesses.

Since moving to Scotland, we’ve found an excellent talent pool and a thriving community focused on collaboration and innovation.

Mudano aims to create the world’s first artificial intelligence project management software at its Edinburgh base.

What's the vision for your business?

Our vision is to build our ‘autonomous project’. This involves using artificial intelligence, data visualisation and automation to manage large scale IT change projects more effectively.

With the right data and technology, we believe we can consistently show highly engaged teams the best route to deliver their business outcomes. We believe the transition to the autonomous project will mean we can achieve full business value for a tenth of today’s cost.

 

If you would like to find out more about how we can help you and your business establish, relocate or expand within the city region, or would simply like more information about what Edinburgh has to offer, get in touch today.

E: invest@edinburgh.gov.uk

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E: invest@edinburgh.gov.uk

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