MDX Technology Reports Continued Expansion in 2015, Closes Funding Round

The software development company reported a record expansion in 2015 and successfully raised a USD seven-figure amount in funding.

London-based software development company, MDX Technology Ltd (MDXT), announced that it has successfully completed a round of fund raising, which will further contribute to the expansion of its business.

Formed in 2010, the firm develops real-time market data collaboration solutions for the trading community, catering to traders, developers and market data professionals in the capital markets, energy and commodities sectors.

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In the announcement, the firm recorded strong growth in 2015. MXDT confirmed with Finance Magnates that it now boasts 29 contracted clients, including investment banks, energy trading companies, proprietary traders, hedge funds, investment managers, spread betters, and software development companies.

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“We have had five years of carefully managed organic development which yielded a variety of clients across all mdxsectors and all regions,” said Paul Watmough, CEO at MXDT. “The first half of 2015 has been exceptionally busy. During this we grew our existing client base, added several new name customers, extended our partner network and evolved our product offering to attract a wider audience.”

The announcement also reported a successful completion of a first round of funding to accelerate further growth. In a statement to Finance Magnates, the firm confirmed that the investment was a seven figure USD raise: “The investors are pretty much all operating in the industry, some of which are existing clients and recognize the potential of the business.”

David Priestley, Chairman at MDXT, said, “I was pleasantly surprised by the appetite to invest in MDXT. We were also very encouraged by the fact that a number of our existing clients were keen to participate in the fund raising.”

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