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Boise’s Clearwater Analytics announces large investment

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Boise-based Clearwater Analytics, the Boise-based financial software solution company, landed a new set of investment.

In August, BoiseDev told you about reporting indicating Clearwater sought new owners or a sale. Today’s news doesn’t change control of the company, but adds four new investment firms to the mix.

In 2016, Welsh, Carson, Anderson & Stowe, a buyout firm, acquired Clearwater. It later installed a new CEO. WCAS stays as majority shareholder but adds Permira, Warburg Pincus, Dragoneer Investment Group, and Durable Capital to the ownership ranks.

“Our new partnership with Permira, Warburg Pincus, Dragoneer, and Durable, builds upon our very strong relationship with WCAS and continues the momentum Clearwater has achieved as the innovative leader in the investment accounting and analytics market,” company CEO Sandeep Sahai said in a prepared statement. “We look forward to benefitting from all of our partners’ deep domain expertise, global resources, and growth capital as we continue to extend Clearwater’s international reach and advance our solution set for our valued clients.”

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IPO or no?

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On Friday, Barron’s said the company would prepare for an initial public offering of the company, though today’s release did not mention that action. Barron’s also said the new investments would value the company at $3 billion.

In a release, Clearwater said the new investors will help make possible future merger and acquisition activity possible.

If the Barron’s figure is accurate, it would make the Clearwater investment the second billion-dollar plus deal involving a Boise company in just the last month. Ericsson announced it would acquire Cradlepoint later this year for $1.1 billion.

David Boren, Micahel Boren, and Douglas Bates founded the company in Boise in 2004. It operates out of a large custom-built office building in Downtown Boise – though most employees continue to work from home in wake of the COVID-19 pandemic.

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Don Day
Don is the founder and editor of BoiseDev. He is a National Edward R. Murrow Award winner and a Stanford University John S. Knight Fellow.

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