Clearwater Analytics targets nearly $4 billion valuation in U.S. IPO

  • 9/14/2021
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(Reuters) -Clearwater Analytics, an investment management software company backed by buyout firm Welsh Carson, is targeting an enterprise valuation of nearly $4 billion in its initial public offering in the United States, according to a regulatory filing here on Tuesday. Boise, Idaho-based Clearwater, which makes software that helps companies manage their investment portfolios, plans to sell 30 million shares priced between $14 and $16 apiece in the IPO. At the upper end of the price range, it would raise $480 million.Clearwater, whose revenue grew 24% year-over-year in the six months ended June 30, counts private equity firms Permira and Warburg Pincus among its investors. Reuters reported in August last year that Welsh Carson was exploring options including the sale of Clearwater here for around $2 billion, besides an IPO. The company aggregates and reports on more than $5.6 trillion assets globally for over 1,000 clients including Cisco Systems Inc, Facebook Inc, Oracle Corp and Sompo Holdings Inc, its filing showed. Goldman Sachs, J.P. Morgan and Morgan Stanley are the lead bookrunners for the offering, after which Clearwater plans to list on the New York Stock Exchange under the symbol “CWAN.”

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