Company:Clearwater Analytics

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Clearwater Analytics Holdings, Inc.
TypePublic
NYSE: CWAN
IndustryFinancial Technology
Founded2004; 22 years ago (2004)
HeadquartersBoise, Idaho, United States
Key people
Sandeep Sahai (CEO)
ProductsComputer Software
Support services
Increase US$6.63 billion (2025)[1]
Increase US$4.56 billion (2025)[1]
Total assetsIncrease US$34.99 billion (2025)[1]
Number of employees
1,000–2,000 (2020)
Websiteclearwateranalytics.com

Clearwater Analytics Holdings, Inc. is an American software-as-a-service (SaaS) fintech company that provides automated investment accounting, performance, compliance, and risk reporting worldwide.[2] Clearwater is a publicly traded company headquartered in Boise, Idaho, with additional offices in London, Edinburgh, New York City and Noida.[3][4][5]

History

Clearwater was founded in 2004 by David Boren, Michael Boren, and Douglas Bates.[6] Prior to founding Clearwater, David, Michael, and Douglas founded Clearwater Advisors, an institutional fixed-income investment advisor, where they developed the concept for Clearwater.[7]

In December 2013, Clearwater Analytics announced its partnership with the Gardner Co. to help finance a new nine-story building in downtown Boise to double the company's current space to over 90,000 square feet.[8] Construction of the Clearwater building was completed in September 2016.[9]

The company went public via an initial public offering in September 2021, listing on the New York Stock Exchange.[10]

In September 2022, Clearwater Analytics agreed to acquire JUMP Technology, a French firm focused on data management, front-middle-back office and reporting, for €75 million.[11]

In April 2024, Clearwater Analytics agreed to purchase a set of risk and performance analytics solutions from Wilshire Advisors, a global financial services firm, for $40 million. The solutions encompassed fixed income analytics, equity analytics and performance measurement, accounting and compliance support analytics.[12]

In January 2025, Clearwater Analytics agreed to acquire Enfusion, a Chicago-based investment management platform, for $1.5 billion.[13] The deal was completed in April 2025.[14]

In March 2025, Clearwater Analytics agreed to acquire Beacon, a provider of cross-asset class modeling and risk analytics, for approximately $560 million. In the same announcement, Clearwater Analytics shared its plans to acquire Bistro, an in-house portfolio visualization software platform built for Blackstone’s Credit & Insurance business, for $125 million.[15]

In November 2025, private equity firm Thoma Bravo submitted an offer to take Clearwater Analytics private, following a joint offer from Permira and Warburg Pincus.[16] The following month, Clearwater agreed to be taken private by the latter in an $8.4 billion deal.[17]

Products and services

Clearwater Analytics provides software-as-a-service. The Company offers automated investment accounting, performance, compliance, and risk reporting solutions. Clearwater serves customers worldwide.[18]

Executive team

The executive team at Clearwater Analytics is composed of Sandeep Sahai, CEO and board member, Cindy Blendu, Chief Transformation Officer; Jim Cox, CFO; Scott Erickson, President, Americas and New Markets; and Souvik Das, Chief Technology Officer.[19][20][21]

Awards

  • 2012 – Innovative Company of the Year, Idaho Innovation Awards[22]
  • 2013 – Technology Firm of the Year, Captive Review[23]
  • 2014 – Idaho Private 75[24]
  • 2019 – Best Software Solution, UK & European Captive Review Awards[25]
  • 2019 – Technology Firm of the Year, Insurance Asset Management Awards[26]

References

  1. ↑ 1.0 1.1 1.2 Cite error: Invalid <ref> tag; no text was provided for refs named ar25
  2. ↑ "About Us". Clearwater Analytics. https://clearwater-analytics.com/about. Retrieved 2 May 2018. 
  3. ↑ "Clearwater Analytics Expands to the United Kingdom". Insurance Networking News. 28 March 2013. http://www.insurancenetworking.com/news/clearwater-analytics-expands-united-kingdom-32056-1.html. 
  4. ↑ Venugopalan, Anjali (2019-08-08). "Fintech SaaS company, Clearwater Analytics, to open office in India". The Economic Times. https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/fintech-saas-company-clearwater-analytics-to-open-office-in-india/articleshow/70587269.cms?from=mdr. 
  5. ↑ K.R.Srivats. "Clearwater Analytics to invest $25 million in India over next three years, says CEO Sandeep Sahai" (in en). https://www.thehindubusinessline.com/info-tech/clearwater-analytics-to-invest-25-million-in-india-over-next-three-years-says-ceo-sandeep-sahai/article30050764.ece. 
  6. ↑ Day, Don (July 25, 2018). "Boise's Clearwater Analytics to expand, adds new CEO". https://boisedev.com/news/2018/7/25/boises-clearwater-analytics-to-expand-adds-new-ceo/. 
  7. ↑ "Clearwater Analytics – Modern World's Accounting Solution". https://www.yourtechstory.com/2022/06/15/clearwater-analytics-modern-worlds-accounting-solution/. 
  8. ↑ "Clearwater Analytics partners with Gardner". Idaho Statesman. 8 December 2013. Archived from the original on 2014-06-11. https://archive.today/20140611045706/http://www.idahostatesman.com/2013/12/08/2915931/clearwater-analytics-partners.html. 
  9. ↑ "New chapter looming for downtown Clearwater's abandoned Strand building" (in en). https://www.tampabay.com/news/growth/new-chapter-looming-for-downtown-clearwaters-abandoned-strand-building/2264125/. 
  10. ↑ Podder, Sohini (September 24, 2021). "Clearwater Analytics valued at over $5 bln after stellar NYSE debut". Reuters. https://www.reuters.com/legal/transactional/welsh-carson-backed-clearwater-analytics-valued-over-5-bln-market-debut-2021-09-24/. 
  11. ↑ Writer, Verdict Staff (2022-09-30). "Clearwater Analytics strikes €75m deal to buy JUMP Technology" (in en-US). https://www.privatebankerinternational.com/news/clearwater-analytics-jump-technology/. 
  12. ↑ "Clearwater to Pay $40M for Wilshire's Analytics Products" (in en). https://www.thinkadvisor.com/2024/04/02/clearwater-to-pay-40m-for-wilshires-analytics-products/. 
  13. ↑ Wiggers, Kyle (2025-01-13). "Clearwater agrees to buy investment management platform Enfusion for $1.5B" (in en-US). https://techcrunch.com/2025/01/13/clearwater-agrees-to-buy-investment-management-platform-enfusion-for-1-5b/. 
  14. ↑ Cocksedge, Natasha (2025-04-22). "Clearwater Analytics completes acquisition of Enfusion for $1.5 billion" (in en). https://www.thetradenews.com/clearwater-analytics-completes-acquisition-of-enfusion-for-1-5-billion/. 
  15. ↑ Editorial Staff (2025-03-14). "Clearwater Analytics Makes Two Strategic Acquisitions" (in en-US). https://www.tradersmagazine.com/xtra/clearwater-analytics-makes-two-strategic-acquisitions/. 
  16. ↑ "Thoma Bravo makes offer to acquire Clearwater Analytics as software take-private race intensifies – Private Equity Insights" (in en-US). https://pe-insights.com/thoma-bravo-makes-offer-to-acquire-clearwater-analytics-as-software-take-private-race-intensifies/. 
  17. ↑ Vinn, Milana (December 21, 2025). "Permira, Warburg to buy Clearwater Analytics for $8.4 billion". Reuters. https://www.reuters.com/technology/permira-warburg-near-82-bln-deal-clearwater-analytics-sources-say-2025-12-21/. 
  18. ↑ "Company Overview of Clearwater Analytics, LLC". Bloomberg. https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=40129818. 
  19. ↑ "Clearwater Executive Team". Clearwater Analytics. https://clearwater-analytics.com/about/executive-team. Retrieved 29 April 2019. 
  20. ↑ "Sandeep Sahai Joins Clearwater Analytics as Chief Executive Officer". Business Wire. 24 July 2018. https://www.businesswire.com/news/home/20180724005217/en/4420736/Sandeep-Sahai-Joins-Clearwater-Analytics-Chief-Executive. 
  21. ↑ "Warren Barkley Joins Clearwater Analytics as Chief Technology Officer". Business Wire. 28 April 2020. https://www.businesswire.com/news/home/20200428005211/en/Warren-Barkley-Joins-Clearwater-as-Chief-Technology-Officer. 
  22. ↑ "Winners Named in the 2012 Idaho Innovation Awards". https://www.stoel.com/events-press-releases/press-releases/2012/winners-named-in-the-2012-idaho-innovation-awards. 
  23. ↑ "U.S. Captive Service Awards 2013: Winners". Captive Review. http://www.captivereview.com/news/1737362/us-captive-service-awards-2013-winners.thtml. Retrieved 22 May 2014. 
  24. ↑ "Idaho Private 75 Winners 2014". Idaho Statesman. 2 November 2014. http://issuu.com/idahostatesman/docs/1102_idaho_private_75_32p/21. Retrieved 2 November 2014. 
  25. ↑ "Clearwater Wins Best Software Solution at UK & European Insurance Awards" (in en). https://clearwater-analytics.com/news-and-events/press/clearwater-uk-europe-captive-insurance-awards. 
  26. ↑ "Clearwater Wins Second Technology Award for 2019" (in en). https://clearwater-analytics.com/news-and-events/press/clearwater-wins-second-technology-award-for-2019. 



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