Empyrean Solutions, a provider of asset and liability management solutions, has collected a $74m minority growth investment from Spectrum Equity and Information Venture Partners
The investment, which marks Empyrean’s first injection of institutional capital, will help the company bolster its product innovation.
Banks and credit unions can leverage Empyrean to improve their balance sheet management, scenario planning and risk analysis in a single software platform. It offers a range of tools, including asset and liability management, liquidity stress testing, deposit analytics, budgeting and profitability.
In addition to asset and liability management, the platform offers risk and compliance solutions.
Over the past three years, Empyrean has tripled its revenue.
Empyrean executive chairman Raffi Festekjian said, “Empyrean’s success to date has been achieved by combining a modern, intuitive platform that spans all key risk and finance functions, market-leading data processing which enables clients to run scenarios and produce reports in a fraction of the time and effort required on other platforms, and through our track record of continuous product innovation.”
Empyrean CEO Chris Maclin added, “Our new partnership with Spectrum Equity will further our commitment to provide best-in-class risk and balance sheet management solutions and accelerate our investment in product offerings that meet the evolving business and planning needs of financial institution CFOs.”
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