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Clearwater Analytics

Cloud-native investment accounting, reporting, and analytics for institutional investors

Data & Analytics Enterprise Public (NYSE: CWAN); going private at USD 8.4B
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Overview

Clearwater Analytics is a cloud-native SaaS platform for investment accounting, reporting, and analytics, serving institutional investors including insurance companies, asset managers, banks, pension plans, and corporate treasuries. The platform is used to manage daily investment operations across a broad range of asset classes, with particular depth in the insurance segment where it serves a large share of major carriers.

The platform covers the full investment lifecycle from data aggregation and accounting to regulatory reporting, compliance, and risk monitoring. Delivered as a single-instance, multi-tenant cloud solution, it consolidates portfolio data across custodians, asset classes, and geographies into a unified Investment Book of Record (IBOR). Acquisitions of Enfusion and Beacon expanded the offering into front-office portfolio management and real-time multi-asset risk, and the company has embedded generative AI capabilities across its platform.

Clearwater serves 2,400+ clients globally, with more than USD 10 trillion in assets under management reported through the platform daily. The company went public on the NYSE in September 2021 and in December 2025 agreed to be taken private by a consortium led by Permira and Warburg Pincus at USD 24.55 per share (approximately USD 8.4B total). Q1 2026 revenue was USD 221.2M, up 74% year over year.

Products & Services

Core Investment Accounting & Reporting

Automated investment accounting and multi-basis regulatory reporting platform. Aggregates and normalizes investment data across custodians and asset classes, producing accounting-ready outputs and regulatory reports.

Key Features

  • Investment Book of Record (IBOR) with multi-basis support
  • Automated reconciliation across custodians and counterparties
  • Regulatory reporting for NAIC, GAAP, IFRS, Solvency II, and other frameworks
  • Pre- and post-trade compliance monitoring
  • Alternative and private asset management support

Target Users: Insurance investment teams, CFOs, actuaries, compliance officers

Enfusion by Clearwater

Portfolio and order management solution for institutional investors, covering front-office modeling through middle- and back-office operations.

Key Features

  • Portfolio modeling and analytics
  • Order management and execution workflow
  • Real-time P&L and position reporting
  • Multi-asset class coverage

Target Users: Asset managers, insurance investment teams

Beacon by Clearwater

Cross-asset trading and risk management platform with embedded generative AI.

Key Features

  • Real-time multi-asset risk analytics
  • Pre-trade risk and scenario analysis
  • Embedded generative AI for enhanced decision-making
  • Integration with execution venues and pricing sources

Target Users: Insurance asset owners, institutional trading desks

Clearwater GenAI Platform

AI-powered automation and analytics layer deployed across client investment operations.

Key Features

  • 800+ AI agents available for deployment (as of May 2026)
  • Automates routine data and reporting tasks
  • Surfaces insights across investment portfolio data
  • Integrates with the core accounting and reporting platform

Target Users: Investment operations teams across all client segments

At a Glance

Founded
2004
Headquarters
Boise, Idaho, USA
Employees
1000+
Funding
Public (NYSE: CWAN); going private at USD 8.4B

Category & Focus

Category
Data & Analytics
Subcategories
Investment accounting portfolio reporting regulatory reporting risk analytics investment data management
Insurance Verticals
Life & Annuity P&C Commercial P&C Personal Specialty/E&S Reinsurance Group Benefits
Target Customers
Carriers, Reinsurers

Customers

  • Blackstone
  • PartnerRe
  • M&G Investments
  • Qualcomm
  • Equinix

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Last updated: 2026-05-12