Clearwater Analytics

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.[1] Clearwater is a publicly traded company headquartered in Boise, Idaho, with additional offices in London, Edinburgh, New York City and Noida.[2][3][4]

History

Clearwater was founded in 2004 by David Boren, Michael Boren, and Douglas Bates.[5] Prior to founding Clearwater, David, Michael, and Douglas founded Clearwater Advisors, an institutional fixed-income investment advisor, where they developed the concept for Clearwater.[6]

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.[7] Construction of the Clearwater building was completed in September 2016.[8]

The company went public via an initial public offering in September 2021, listing on the New York Stock Exchange.[9]

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.[10]

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.[11]

In January 2025, Clearwater Analytics agreed to acquire Enfusion, a Chicago-based investment management platform, for $1.5 billion.[12] The deal was completed in April 2025.[13]

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.[14]

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.[15] The following month, Clearwater agreed to be taken private by the latter in an $8.4 billion deal.[16]

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.[17]

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.[18][19][20]

Awards

• 2012 – Innovative Company of the Year, Idaho Innovation Awards[21]
• 2013 – Technology Firm of the Year, Captive Review[22]
• 2014 – Idaho Private 75[23]
• 2019 – Best Software Solution, UK & European Captive Review Awards[24]
• 2019 – Technology Firm of the Year, Insurance Asset Management Awards[25]