Clearwater Analytics Holdings, Inc.

Overview

• IndustryServices-Prepackaged Software¹
• HeadquartersBoise, Idaho¹
• Incorporated inDE³
• Business address777 W. Main Street, Suite 900, Boise, Id 83702³
• Filer categoryLarge accelerated filer³
• Legal formCorporation

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On December 20, 2025, we entered into the Merger Agreement to be acquired in a transaction valued at approximately $8.4 billion by an investor group led by Permira and Warburg Pincus, and also including Temasek Holdings (Private) Limited (“Temasek”) and Francisco Partners Management, L.P. (“Francisco Partners” and, collectively with Permira, Warburg and Temasek, the “Investor Group”). Under the terms of the Merger Agreement, each share of our Class A common stock issued and outstanding immediately prior to the effective time of the Merger (other than shares of our Class A common stock (i) owned by Parent or Merger Sub, (ii) owned by us as treasury shares or (iii) held by any person who properly exercises appraisal rights under the Delaware General Corporation Law (the “DGCL”)) will convert into the right to receive an amount in cash equal to $24.55 per share, without interest, upon compl…⁴ From its latest annual report

Corporate structure

Clearwater Analytics Holdings, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Clearwater Analytics Holdings, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Investments

Intangibles and goodwill

Properties, in its own words

Our corporate headquarters is located in Boise, Idaho and consists of 106,780 square feet under a lease agreement that expires on October 31, 2026. In January 2026, the lease agreement was renewed for a 10-year period, ending on October 31, 2036. We also lease office space in New York, New York; Chicago, Illinois; McLean, Virginia; Seattle, Washington; San Jose, California; London, United Kingdom; Edinburgh, United Kingdom; Dublin, Ireland; Paris, France; Luxembourg; Frankfurt, Germany; Noida, India; Bangalore, India; Mumbai, India; Tokyo, Japan; Sydney, Australia; Singapore and Hong Kong.

We lease all our facilities and do not own any real property. We believe that our office facilities are adequate for our immediate needs and that additional or substitute space is readily available if needed to accommodate the growth of our operations.

Item 2 of the 10-K filed Feb 18, 2026.⁴

Leadership

Who has led Clearwater Analytics Holdings, Inc., and when. Pick a name to see everywhere that person has worked.

• Chief executive officerSandeep Sahai Sep 23, 2021 to now¹³
• PresidentGayatri Raman Sep 23, 2021 to Feb 22, 2023¹⁴
• Chief financial officerJames S. Cox Sep 23, 2021 to now¹⁵
• Chief operating officerSubi Sethi Jun 25, 2026 to now¹⁶

Named in SEC Form D filings

People the company listed in its private-offering notices.

• DirectorAndrew Scott Young named May 12, 2025³⁹
• DirectorLisa A. Jones named May 12, 2025³⁹

Timeline

1. Jun 25, 20268-K Entered a material agreement; Ended a material agreement; Completed an acquisition or sale⁴⁰
2. Jun 22, 20268-K Regulation FD disclosure⁴¹
3. May 7, 20268-K Shareholder vote⁴²
4. May 7, 20268-K Results of operations⁴³
5. Feb 18, 20268-K Results of operations⁴⁴
6. Feb 17, 20268-K Regulation FD disclosure⁴⁵
7. Jan 23, 20268-K Other events⁴⁶
8. Dec 22, 20258-K Entered a material agreement; Other events⁴⁷
9. Nov 5, 20258-K Results of operations⁴⁸
10. Sep 3, 20258-K Other events⁴⁹
11. Aug 6, 20258-K Results of operations⁵⁰
12. Aug 5, 20258-K Executive or director change; Regulation FD disclosure⁵¹
13. Sep 23, 2021New chief executive Sandeep Sahai becomes CEO¹³

Calendar

When it reported results

1. May 7, 2026Reported quarterly or annual results⁴³
2. Feb 18, 2026Reported quarterly or annual results⁴⁴
3. Nov 5, 2025Reported quarterly or annual results⁴⁸
4. Aug 6, 2025Reported quarterly or annual results⁵⁰
5. Apr 30, 2025Reported quarterly or annual results⁵²
6. Feb 19, 2025Reported quarterly or annual results⁵³
7. Nov 6, 2024Reported quarterly or annual results⁵⁴
8. Jul 31, 2024Reported quarterly or annual results⁵⁵

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

646 filings to the SEC since October 2021: 7 annual reports, 14 quarterly reports, 56 major events, 334 insider forms, 68 large holders, 1 private raises, 166 other. The latest 20:

1. Jul 6, 202615-12G EDGAR
2. Jul 1, 2026SCHEDULE 13G EDGAR
3. Jun 25, 20264 EDGAR
4. Jun 25, 20264 EDGAR
5. Jun 25, 20264 EDGAR
6. Jun 25, 20264 EDGAR
7. Jun 25, 20264 EDGAR
8. Jun 25, 20264 EDGAR
9. Jun 25, 20264 EDGAR
10. Jun 25, 20264 EDGAR
11. Jun 25, 20264 EDGAR
12. Jun 25, 20264 EDGAR
13. Jun 25, 20264 EDGAR
14. Jun 25, 2026POSASR EDGAR
15. Jun 25, 2026POSASR EDGAR
16. Jun 25, 2026S-8 POS EDGAR
17. Jun 25, 2026S-8 POS EDGAR
18. Jun 25, 2026SC 13E3/A EDGAR
19. Jun 25, 20268-K EDGAR
20. Jun 22, 20268-K EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

248 open-market trades by officers, directors and large owners since October 2021: 42 buys and 206 sales. Grants, option exercises and gifts are left out.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

• GLAZER CAPITAL, LLCSCHEDULE 13G, 1 filing Jul 1, 2026⁵⁶
• VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 2026⁵⁷
• VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 2026⁵⁸
• VANGUARD GROUP INCSCHEDULE 13G/A, 9 filings Feb 9, 2022 to Mar 26, 2026⁵⁹
• Wellington Management CompanySCHEDULE 13G/A, 4 filings Feb 4, 2022 to Feb 10, 2026⁶⁰
• WCAS XIII CARBON ANALYTICS ACQUISITION, L.P.SCHEDULE 13G/A, 4 filings Feb 14, 2022 to Aug 13, 2025⁶¹
• WASATCH ADVISORS LPSCHEDULE 13G/A, 8 filings Feb 11, 2022 to May 15, 2025⁶²
• KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLCSCHEDULE 13G/A, 9 filings Oct 12, 2021 to May 14, 2025⁶³
• Galibier Purchaser, LLCSCHEDULE 13G/A, 4 filings Feb 14, 2023 to Feb 13, 2025⁶⁴
• WILLIAM BLAIR INVESTMENT MANAGEMENT, LLCSCHEDULE 13G/A, 2 filings Feb 12, 2024 to Feb 12, 2025⁶⁵
• WARBURG PINCUS LLCSC 13G/A, 3 filings Feb 14, 2022 to Nov 14, 2024⁶⁶
• WCAS XII CARBON ANALYTICS ACQUISITION, L.P.SC 13G/A, 1 filing Nov 13, 2024⁶⁷
• BlackRockSC 13G, 2 filings Oct 22, 2024 to Nov 8, 2024⁶⁸
• ALGER ASSOCIATES INCSC 13G/A, 2 filings Feb 14, 2023 to Feb 14, 2024⁶⁹
• BAMCO INC /NY/SC 13G/A, 3 filings Feb 15, 2022 to Feb 14, 2024⁷⁰
• Dragoneer Investment Group, LLCSC 13G/A, 4 filings May 10, 2022 to Feb 14, 2024⁷¹
• Durable Capital Partners LPSC 13G/A, 4 filings Oct 8, 2021 to Feb 12, 2024⁷²
• Conestoga Capital Advisors, LLCSC 13G/A, 2 filings Jan 18, 2023 to Jan 5, 2024⁷³
• JPMorgan ChaseSC 13G/A, 2 filings Jan 9, 2023 to Jan 4, 2024⁷⁴
• Vii Gp S.a R.l. PermiraSC 13G, 1 filing Feb 14, 2022⁷⁵
• STAD MARCSC 13G, 1 filing Oct 12, 2021⁷⁶

Money raised

Private offerings the company reported to the SEC on Form D.

1. Apr 30, 2025Raised $261.8 million in a private offering of equity Form D: 95 investors so far Form D

SEC filer profile

How Clearwater Analytics Holdings, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARClearwater Analytics Holdings, Inc.¹
• CIK0001866368
• Employer ID (EIN)87-1043711⁴
• Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company⁴
• Incorporated inDelaware⁴
• Fiscal year endsDecember 31¹
• Industry code (SIC)7372 Services-Prepackaged Software¹
• SEC reviewing officeOffice of Technology, Division of Corporation Finance¹
• Business address777 W. Main Street, Suite 900, Boise, ID 83702¹
• Phone208-918-2400¹
• Shares outstanding294,353,077 Common Class A shares; 1,113,136 Common Class B shares as of Feb 13, 2026⁴
• Public float$6.3B as of Jun 30, 2025⁴
• AuditorKPMG LLP, Boise, Idaho PCAOB ID 185; it also attests to the company’s internal control over financial reporting⁴
• On EDGAR sinceJun 10, 2021¹
• Filings710 in all: 4 (323), 144 (102), 8-K (57), SC 13G/A (37), 3 (31), SC 13G (16), 4/A (15), 10-Q (14)¹
  All 47 form types

  DEFA14A (13), SCHEDULE 13G/A (11), 425 (9), 424B5 (8), CORRESP (7), DEF 14A (7), UPLOAD (6), 10-K (5), S-1/A (4), SCHEDULE 13G (4), SC 13E3/A (3), 10-K/A (2), 3/A (2), ARS (2), DRS/A (2), DRSLTR (2), EFFECT (2), POSASR (2), S-3ASR (2), S-8 (2), S-8 POS (2), 15-12G (1), 25-NSE (1), 424B3 (1), 424B4 (1), 424B7 (1), 8-A12B (1), CERT (1), CT ORDER (1), D (1), DEFM14A (1), DRS (1), PRE 14A (1), PREM14A (1), PRER14A (1), S-1 (1), S-4 (1), S-4/A (1), SC 13E3 (1)

• Latest filingsAnnual report (10-K) Feb 18, 2026
  Quarterly report (10-Q) May 7, 2026
  Proxy statement (DEF 14A) Dec 22, 2025
  Latest 8-K (8-K) Jun 25, 2026

Securities registered for trading

From the cover page of the 10-K filed Feb 18, 2026 (Section 12(b) of the Exchange Act).⁴

Risk factors and legal proceedings

The risks Clearwater Analytics Holdings, Inc. names in Item 1A of its 10-K filed Feb 18, 2026: 56 risks under these headings, as written.⁴

• The Company’s business, reputation, results of operations and financial condition, as well as the price of the Company’s stock, can be affected by a number of factors, whether currently known or unknown, including those described below. When any one or more of these risks materialize from time to time, the Company’s business, reputation, results of operations and financial condition, as well as the price of the Company’s stock, can be materially and adversely affected.
• Because of the following factors, as well as other factors affecting the Company’s results of operations and financial condition, past financial performance should not be considered to be a reliable indicator of future performance, and investors should not use historical trends to anticipate results or trends in future periods. This discussion of risk factors contains forward-looking statements.
• Merger Risks
• If our proposed Merger does not close, or is delayed, we may experience financial and operational disruptions. In addition our stock price may decline if the Merger is perceived as uncertain to close.
• Lawsuits may be filed against us and the members of our Board of Directors arising out of the proposed Merger, which may delay or prevent the proposed Merger or otherwise negatively affect our business and operations.
• The Merger Agreement contains provisions that limit our ability to pursue alternatives to the Merger.
• We are subject to certain restrictions on the conduct of our business under the terms of the Merger Agreement.
• Macroeconomic and Industry Risks
• We operate in a highly competitive industry, with many companies competing for business from insurance companies, asset managers, hedge funds, corporations and government entities on the basis of a number of factors, including the quality and breadth of solutions and services provided, ability to innovate, reputation and the prices of services, and this competition could hurt our financial performance and cash flows.
• Our results of operations and financial condition are highly dependent on fees based on the value of the assets on our platform, and for certain solutions dependent on user fees, connectivity fees, market data fees, and managed service fees. To the extent market volatility, a downturn in economic conditions, product utilization, or other factors cause negative trends, fluctuations in usage or fluctuations in the value of the assets on our platform or, our fee-based revenue and earnings may decline.
• Because some of our sales efforts are targeted at large financial institutions, corporations and government entities, we face prolonged sales cycles, substantial upfront sales costs and less predictability in completing some of our sales. If our sales cycle lengthens, or if our upfront sales investments do not result in sufficient revenue, our results of operations may be harmed.
• Business and Operational Risks

Legal proceedings

From time to time, we are subject to certain legal proceedings and claims that arise in the normal course of business. In the opinion of our management, we are not involved in any litigation or proceedings with third parties that we believe could have a material adverse effect on our results of operations, financial condition, cash flows or business.

The opening of Item 3, Legal Proceedings.⁴