Clearwater Analytics

Clearwater Analytics Holdings, Inc.
Company typePublic
NYSE: CWAN
IndustryFinancial Technology
Founded2004 (2004)
HeadquartersBoise, Idaho, United States
Key people
Sandeep Sahai (CEO)
ProductsComputer Software
Support services
Revenue (US$30.67 billion)
US$6.63 billion (2025)[1]
US$4.56 billion (2025)[1]
Total assets 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. ^ a b c Cite error: The named reference ar25 was invoked but never defined (see the help page).
  2. ^ "About Us". Clearwater Analytics. Retrieved 2 May 2018.
  3. ^ "Clearwater Analytics Expands to the United Kingdom". Insurance Networking News. 28 March 2013.
  4. ^ Venugopalan, Anjali (2019-08-08). "Fintech SaaS company, Clearwater Analytics, to open office in India". The Economic Times. Retrieved 2019-12-20.
  5. ^ K.R.Srivats. "Clearwater Analytics to invest $25 million in India over next three years, says CEO Sandeep Sahai". @businessline. Retrieved 2019-12-20.
  6. ^ Day, Don (July 25, 2018). "Boise's Clearwater Analytics to expand, adds new CEO". Boise Dev. Retrieved July 17, 2019.
  7. ^ "Clearwater Analytics – Modern World's Accounting Solution".
  8. ^ "Clearwater Analytics partners with Gardner". Idaho Statesman. 8 December 2013.{{cite web}}: CS1 maint: deprecated archival service (link)
  9. ^ "New chapter looming for downtown Clearwater's abandoned Strand building". Tampa Bay Times. Retrieved 2023-01-20.
  10. ^ Podder, Sohini (September 24, 2021). "Clearwater Analytics valued at over $5 bln after stellar NYSE debut". Reuters.
  11. ^ Writer, Verdict Staff (2022-09-30). "Clearwater Analytics strikes €75m deal to buy JUMP Technology". Private Banker International. Retrieved 2025-04-22.
  12. ^ "Clearwater to Pay $40M for Wilshire's Analytics Products". thinkadvisor.com. Retrieved 2025-04-22.
  13. ^ Wiggers, Kyle (2025-01-13). "Clearwater agrees to buy investment management platform Enfusion for $1.5B". TechCrunch. Retrieved 2025-04-22.
  14. ^ Cocksedge, Natasha (2025-04-22). "Clearwater Analytics completes acquisition of Enfusion for $1.5 billion". The TRADE. Retrieved 2025-04-22.
  15. ^ Editorial Staff (2025-03-14). "Clearwater Analytics Makes Two Strategic Acquisitions". Traders Magazine. Retrieved 2025-04-22.
  16. ^ "Thoma Bravo makes offer to acquire Clearwater Analytics as software take-private race intensifies – Private Equity Insights". Retrieved 2025-11-18.
  17. ^ Vinn, Milana (December 21, 2025). "Permira, Warburg to buy Clearwater Analytics for $8.4 billion". Reuters.
  18. ^ "Company Overview of Clearwater Analytics, LLC". Bloomberg.
  19. ^ "Clearwater Executive Team". Clearwater Analytics. Retrieved 29 April 2019.
  20. ^ "Sandeep Sahai Joins Clearwater Analytics as Chief Executive Officer". Business Wire. 24 July 2018. Retrieved 25 July 2018.
  21. ^ "Warren Barkley Joins Clearwater Analytics as Chief Technology Officer". Business Wire. 28 April 2020. Retrieved 28 April 2020.
  22. ^ "Winners Named in the 2012 Idaho Innovation Awards". Archived from the original on 2019-12-20.
  23. ^ "U.S. Captive Service Awards 2013: Winners". Captive Review. Archived from the original on 22 March 2014. Retrieved 22 May 2014.
  24. ^ "Idaho Private 75 Winners 2014". Idaho Statesman. 2 November 2014. Retrieved 2 November 2014.
  25. ^ "Clearwater Wins Best Software Solution at UK & European Insurance Awards". Clearwater Analytics. Retrieved 2019-12-20.
  26. ^ "Clearwater Wins Second Technology Award for 2019". Clearwater Analytics. Retrieved 2019-12-20.
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