Mosaic Raises $18M Series A for AI Deal Modeling
Mosaic, a New York-based AI deal modeling platform, has raised $18M in Series A funding led by Radical Ventures. The platform automates LBO, DCF, and operating model creation from CIMs or screenshots using deterministic rules-based math and AI for data ingestion. The capital will deepen product capabilities across private equity workflows and accelerate expansion into investment banking and private credit.
Agentic AI Reshapes Deal Workflows
The raise arrives as Mosaic launches agentic AI tools like Autopilot, which builds MD-ready models from email prompts in five minutes. Recent integrations include S&P Capital IQ data and a strategic partnership with Evercore to serve investment banks. Trusted by five of the top 10 global private equity firms and leading investment banks, Mosaic targets deal teams managing over $1T in assets per company site. This positions it amid a shift from manual spreadsheets to automated, reproducible modeling in private markets.
Spreadsheets Slow PE Execution
Private equity and investment banking teams spend hundreds of hours iterating on generic spreadsheet templates for LBOs and DCFs. Manual processes introduce errors, especially when combining spreadsheets with probabilistic LLMs. Deal professionals lose time on data entry and sensitivity analysis instead of strategic thinking. Current tools lack reproducibility, failing to meet investment committee standards.
Deterministic Engine Powers Automation
Mosaic's core is a deterministic modeling engine that stands by its math, unlike probabilistic LLMs. Features like Mosaic Vision ingest Excel or PDFs, while Autopilot handles email-based requests for full models. Advanced operating models support custom P&L builds, sensitivity analysis with base rates like SOFR, and IRR/MOIC decomposition. Integrations with Cap IQ and FactSet enable seamless data flow.
As founder and CEO Ian Gutwinski noted:
"Before Mosaic, thousands of investors spent hundreds of hours iterating on generic spreadsheet templates… With Mosaic, that same expensive talent can instead spend their time thinking."
Radical Ventures Signals AI Conviction
Radical Ventures, managing $1.8B in assets with an AI focus, led the round. Board additions include Ryan Shannon from Radical Ventures and Troy Pospisil from Ontra.ai, plus advisor John Megrue. These moves provide strategic validation from AI investors and PE veterans. The funding supports growth from 16 to over 40 employees, emphasizing engineering and GTM hires.
Ryan Shannon added:
"With Mosaic, that same expensive talent can instead spend their time thinking…"
Elite Clients Validate Product-Market Fit
Mosaic serves Warburg Pincus, CVC Capital Partners, New Mountain Capital, Bridgepoint, and Evercore—teams overseeing more than $1T AUM according to PR Newswire. Weekly feature releases like Credit View for private credit and extended case management demonstrate rapid iteration. The platform's SOC2 compliance and custom IC-ready outputs align with firm security needs.
Founder Draws from PE Frontlines
CEO Ian Gutwinski brings 13+ years in private equity and investment banking, including six years as Principal at Onex Partners. He launched Mosaic during his Harvard Business School MBA, blending domain expertise with software engineering from Flatiron School and MIT. The team includes ex-CVC Director of Operations and ex-Deutsche Bank/KKR heads, ensuring workflow alignment per LinkedIn profiles.
Post-Funding Hiring and Product Push
Plans include accelerating agentic workflows to connect front- and middle-office teams. Recent hires span software engineering (e.g., from AWS, Dropbox) and GTM roles from Goldman Sachs. Product roadmap features sensitivity updates, dividend recap modeling, and flow-through tax structuring. With top-tier traction, Mosaic eyes dominance in PE, IB, and private credit modeling.