Companies · Software / Tech

Clearwater Analytics Holdings, Inc.New on the radar

Boise · Software / Tech · refined from filed group “Other Technology”

Diligence memoA one-page analyst read on Clearwater Analytics Holdings, Inc. — recommendation, valuation, rhythm, risks.→
$261.8M
Total raised · real
1
Rounds
—
Latest step-up
Top 2%
Sector rank · raised
Series D+
Latest stage · inferred · Wed Apr 30 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Clearwater Analytics Holdings, Inc. looks over-valued against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the technology sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Over-valued
  • Modeled value is 1.79× the median modeled value of Series D+ Software / Tech companies in 2025–2027 (22 peers) — value vs value, same stage and era.
Active
  • Last raise 14 mo ago; this sector typically re-raises about every 13 months.
  • Raising on or ahead of the sector's normal rhythm.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Clearwater Analytics Holdings, Inc. behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
1.4 yr record
Peak capital year was 2025 with $261.8M across 1 filings.
Market position
ahead of 99% of Software / Tech peers
Capital scale is ahead of 99% of Software / Tech peers; modeled value is above 98% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2025: $261.8M across 1 filings.
  • Largest single filing was $261.8M on 2025-04-30.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Software / Tech

Clearwater Analytics Holdings, Inc. is one of 3920 Software / Tech companies tracked from Boise. By capital raised it ranks among the largest (ahead of 99% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
95
Investors (latest)
2021
Year incorporated
2025-04-30
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$1.3B$2.5B$3.8B$5.0BSeries D+ · 2025-04-30 Raised $262M (real) Modeled valuation $2.4B (est)$262M$2.4BSeries D+2025

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series D+$261.8M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 17%.

Modeled valuation trajectory
$2.4B
Base estimate est.
$1.5B
Conservative case
$3.1B
Upside case
$2.2B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+ — a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Not enough modeled valuation points to chart a trajectory.

Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
83%
Survival probability
67% low · 92% high
1.29×/yr
Annual markup
1.44×/yr upside case
1.2 yr
Elapsed time used
1.2 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
—
Avg between rounds
—
Capital velocity
1.4 yr
On record since
2025
First round
New
First-time filer
How it compares to the market

Benchmarked against 3920 companies in Software / Tech. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages)▲ 57× above median
This company$261.8M
Sector median$4.6M
Latest round — vs other Series D+ rounds in sector (real $, this stage)▲ 1.7× above median
This company$261.8M
Sector median$150.0M
Modeled value — vs sector median (estimate, all stages)▲ 67× above median
This company$2.4B
Sector median$36.6M

Raised more than 99% of sector peers (real $). Modeled value above 98% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #3 of 22.

This companyCohort peer
$1.0B$10.0B$100.0M$1.0B$10.0BCapital raised (log)Saronic Technologies, Inc. · Series D+ Raised $523.3M · modeled $3.4B (est)Mercor.io Corp · Series D+ Raised $468.6M · modeled $2.8B (est)Mercury Technologies, Inc. · Series D+ Raised $221.3M · modeled $1.9B (est)Bitmine Immersion Technologies, Inc. · Series D+ Raised $258.3M · modeled $1.9B (est)Elise A.I. Technologies Corp. · Series D+ Raised $320.9M · modeled $1.8B (est)Ontic Technologies, Inc. · Series D+ Raised $196.4M · modeled $1.6B (est)Luminary Cloud, Inc. · Series D+ Raised $187.0M · modeled $1.5B (est)Bancar Technologies Ltd · Series D+ Raised $1.1B · modeled $1.5B (est)Oxide Computer Co · Series D+ Raised $265.2M · modeled $1.5B (est)Motive Technologies, Inc. · Series D+ Raised $408.0M · modeled $1.4B (est)Starburst Labs, Inc. · Series D+ Raised $178.3M · modeled $1.3B (est)Clearwater Analytics Holdings, Inc. (this company) Raised $261.8M · modeled $2.4B (est)Clearwater Analytics Holdings, Inc.
CompanyStageRaised · realValue · estvs peer med.
Saronic Technologies, Inc.Series D+$523.3M$3.4B2.51×
Mercor.io CorpSeries D+$468.6M$2.8B2.02×
Clearwater Analytics Holdings, Inc. this companySeries D+$261.8M$2.4B1.79×
Mercury Technologies, Inc.Series D+$221.3M$1.9B1.41×
Bitmine Immersion Technologies, Inc.Series D+$258.3M$1.9B1.40×
Elise A.I. Technologies Corp.Series D+$320.9M$1.8B1.34×
Ontic Technologies, Inc.Series D+$196.4M$1.6B1.20×
Luminary Cloud, Inc.Series D+$187.0M$1.5B1.13×
Bancar Technologies LtdSeries D+$1.1B$1.5B1.10×
Oxide Computer CoSeries D+$265.2M$1.5B1.07×
Motive Technologies, Inc.Series D+$408.0M$1.4B1.01×
Starburst Labs, Inc.Series D+$178.3M$1.3B0.99×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series D+$261.8M2025-04-30$2.2B$2.4B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series D+$261.8M2025-04-30
    • First recorded raise — entered as Series D+.
    • 95 investors on this round.
Intelligence
—
Modeled next raise
$418.9M
Modeled next size est.range $272.3M–$670.2M
—
Last step-up
—
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
D. Scott Mackesy—11 other2025-04
Jaswinder Pal Singh—1 other2025-04
Andrew Scott Young——2025-04
Cary Scott Davis——2025-04
Christopher Pal Hooper——2025-04
Eric Scott Lee——2025-04
Jacques Aigrain——2025-04
Jim Scott Cox——2025-04
Kathleen A. Corbet——2025-04
Lisa A. Jones——2025-04
Sandeep Scott Sahai——2025-04
Scott Scott Erickson——2025-04
Souvik Scott Das——2025-04
Subi Scott Sethi——2025-04
Registry & provenance

Clearwater Analytics Holdings, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1866368
SEC CIK
2021
Incorporated
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Oxide Computer CoSoftware / TechSeries D+$265.2M$1.5Bsame sector · same stage
Monad Labs, Inc.Software / TechSeries D+$258.4M$2.7Bsame sector · same stage
Bitmine Immersion Technologies, Inc.Software / TechSeries D+$258.3M$1.9Bsame sector · same stage
Uptake Technologies, Inc.Software / TechSeries D+$255.3M$657.8Msame sector · same stage
Mammoth Admin & Tech, LLCSoftware / TechSeries D+$270.0M$3.4Bsame sector · same stage
Matter LabsSoftware / TechSeries D+$252.0M$3.5Bsame sector · same stage
Powerup Technology Inc.Software / TechSeries D+$277.0M$588.4Msame sector · same stage
Built Technologies, Inc.Software / TechSeries D+$277.6M$451.3Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
CoreWater Technologies, Inc.Software / TechSeries A$21.8M84%
Delphi Analytics, LLCSoftware / TechPre-Seed$25.4M83%
CHN Analytics, LLCSoftware / TechPre-Seed$1.5M82%
ClearSky Data, Inc.Software / TechSeries B$249.7M82%
Leyden Analytics, LLCSoftware / TechPre-Seed$742K82%
Weiss Analytics Inc.Software / TechPre-Seed$575K82%
Ultimate Analytics Holding CoSoftware / TechPre-Seed$3.5M82%
Klearly Analytics, Inc.Software / TechSeed$21.6M82%
Frequently asked
How much funding has Clearwater Analytics Holdings, Inc. raised?
Clearwater Analytics Holdings, Inc. has raised approximately $261.8M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is Clearwater Analytics Holdings, Inc.'s estimated valuation?
Provath's modeled valuation for Clearwater Analytics Holdings, Inc. is approximately $2.4B (modeled range $1.5B–$3.1B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Clearwater Analytics Holdings, Inc. at?
Clearwater Analytics Holdings, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Wed Apr 30.
What does Clearwater Analytics Holdings, Inc. do and where is it based?
Clearwater Analytics Holdings, Inc. operates in the Software / Tech sector, based in Boise.
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