Clearwater Analytics closes investment to support its international reach

Clearwater Analytics, an SaaS provider of investment accounting and analytics, has closed an investment round to support its international reach.

The investment was co-led by Permira, Warburg Pincus, Dragoneer Investment Group and Durable Capital.

Welsh, Carson, Anderson & Stowe (WCAS), which first backed Clearwater Analytics in 2016, will remain as the majority stakeholder of the company.

With the fresh equity injection, Clearwater Analytics hopes to extend its international reach and deepen its platform offering. The company will leverage the expertise, global resources and growth capital of its new investors to achieve these goals.

Clearwater Analytics enables corporations, insurance companies and asset managers to access automated and compliant investment accounting, reporting and analytics. Its platform serves more than $4trn in assets for clients each day, it claims.

Clients include American Family Insurance, Arch Capital, Cisc, C.V. Starr & Co., Facebook, J.P. Morgan, Knights of Columbus Insurance, Selective Insurance, Sirius Group, Sompo International, Starbucks and Wilton Re.

Clearwater chairman and a WCAS general partner Eric J. Lee said, “Clearwater’s strong growth has been built on its fundamental commitment to client success, quality and innovation.  Every decision the Company makes starts with these principles.

“Despite the challenging backdrop in 2020, Clearwater has won significant new client mandates as it pursues its vision of becoming the world’s most trusted and comprehensive technology platform for investment accounting and analytics. We are incredibly grateful for, and proud of, our partnership with Sandeep Sahai and the Clearwater team and are pleased to welcome this group of world-class growth investors to support the Company’s pursuit of global market leadership.”

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