During our meeting in Boston, Chris Maclin, CEO of Empyrean, discussed the company’s history, its funding round with Hg the growing impact of artificial intelligence in the financial sector.
Growth built around the product
When Chris Maclin joined Empyrean in 2017, the company had fewer than ten clients and was still operating as a small, family-run business led by three engineer-founders.
The bottom line is simple: the technology is excellent, but the company lacks a solid sales structure and visibility. A few years later, Empyrean has nearly 800 clients. This growth has been largely driven by word of mouth in an industry where trust and reputation remain crucial.
Making the CFO a Strategic Player
Empyrean develops software for the finance departments of banks and credit unions.
The company’s ambition goes beyond reporting. The platform enables CFOs and treasurers to test different scenarios, anticipate risks, and make more proactive strategic decisions in an increasingly complex regulatory and financial environment.
The goal: to turn financial data into a powerful management tool.
A rare SaaS journey
Empyrean currently boasts metrics that are particularly impressive for a SaaS company:
- 40% annual growth
- 30% margin
- $50 million in ARR expected in 2025
Chris Maclin emphasizes that the company was not seeking capital to finance its operations. The decision to go public was primarily driven by a need for strategic support and to scale up the business.
Hg More than Just an Investor
After meeting with several private equity managers, Empyrean chose Hg its partner.
Beyond financing, management was primarily looking for:
- operational expertise,
- strategic guidance,
- and access to resources that can help accelerate the company's growth.
According to Chris Maclin, one of Hg key strengths Hg in its ability to bring in experienced operational experts in key areas such as go-to-market strategy, technology, customer support, and internal organization.
AI as a catalyst for development
One of the major changes observed since Hg arrival Hg the investment in artificial intelligence. Empyrean explains that it has moved from an experimental phase to a full-fledged AI strategy integrated into the core of its product development.
As a result, the new product launch cycle has been reduced from 12 to 18 months to just 3 or 4 months. This acceleration enables the company to respond much more quickly to its customers’ needs and market changes.
A long-term vision
Beyond economic performance, Empyrean champions a broader vision: helping to make the financial system more resilient.
According to Chris Maclin, more effective management and forecasting tools can help banks better identify certain risks and make more sound decisions.
This ambition illustrates how technology, when combined with deep industry expertise and tailored strategic guidance, can serve as a catalyst for sustainable transformation.
.webp){kind=spacer}
.webp)
.webp)
.webp)
.webp)
