Empyrean Solutions Secures Strategic Investment from Hg to Fuel Innovation and Expansion
Empyrean Solutions, a leading provider of risk and performance management software for financial institutions, has announced a significant strategic investment from Hg, a prominent investor in European and North American software businesses. This investment aims to empower Empyrean to accelerate its product roadmap investments, particularly in Office of the CFO software solutions tailored specifically for financial institutions. Additionally, the funding will help expand Empyrean’s sales and marketing efforts to meet rising demand.
The funding round was led by Hg, with participation from existing investors TechVenture Investors and Spectrum Equity, who will remain as shareholders. Spectrum Equity will also coinvest in this new transaction alongside Hg.
Empyrean’s platform addresses critical challenges faced by finance teams in financial institutions, such as handling substantial quantities of isolated data and outdated software, by providing a modern, cloudbased platform. This platform enables financial institutions to connect and process extensive data sets across various financial elements, transforming the Office of the CFO for banks and credit unions.
Chris Maclin, Chief Executive Officer of Empyrean, stated, Our strategy – replacing legacy software solutions and disparate datasets with a single, SaaS native and cloudbased platform – is gaining traction in the sector. This new investment and our partnership with Hg will enable Empyrean to better address the needs of financial institution CFOs, and drive innovation in a space where it is desperately needed. Were thrilled to welcome Hg as a new investor as we embark on the next phase of Empyreans journey.
Raffi Festekjian, Managing Director at TechVenture Investors, added, Hgs knowledge of software businesses and their proven track record partnering with companies across growth initiatives will be invaluable as we continue to innovate and expand our reach. We are also pleased that Spectrum Equity will remain actively involved as we work together to realize our shared vision of delivering to the financial services industry a comprehensive Office of the CFO platform that is a single source of the truth, further solidifying our strong position in the industry.
About Empyrean Solutions:
Empyrean Solutions™ is a leading provider of risk and performance management solutions for banks and credit unions. The company’s software allows financial institutions of all sizes to manage their balance sheet, scenario planning, and risk/performance analysis in a single integrated platform. They serve a wide range of financial institutions, with assets ranging from $50 million to over $200 billion. More information can be found at their website.
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