Empyrean Solutions, a Woburn, MA-based provider of risk and performance management software for financial institutions, received an investment from Hg.
Spectrum Equity also partipated in the deal, whose amount was not disclosed.
The company intends to use the funds to accelerate its product roadmap investments to address more ‘Office of the CFO’ software solutions, designed specifically for financial institutions, as well as expand sales and marketing efforts.
Led by CEO Chris Maclin, Empyrean provides a platform that solves mission critical challenges for finance teams at financial institutions, who historically have had to navigate large quantities of siloed data, antiquated software applications and slow, static modelling. Its platform enables banks and credit unions of all sizes to connect and process massive data sets, spanning loans, treasury and funding positions, deposits and general ledger information all at a transaction level.
While Empyrean started as a specialist in Asset & Liability Management (ALM), the platform today spans Budgeting and Planning, Profitability, Data & Analytics and many other key functions for the finance teams of financial institutions.
Empyrean works with banks and credit unions, ranging from $50 million to $200+ billion in assets.
FinSMEs
22/11/2024