<SEC-DOCUMENT>0000950170-25-108122.txt : 20250813
<SEC-HEADER>0000950170-25-108122.hdr.sgml : 20250813
<ACCEPTANCE-DATETIME>20250813164912
ACCESSION NUMBER:		0000950170-25-108122
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250813
DATE AS OF CHANGE:		20250813

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Clearwater Analytics Holdings, Inc.
		CENTRAL INDEX KEY:			0001866368
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		ORGANIZATION NAME:           	06 Technology
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-92913
		FILM NUMBER:		251212470

	BUSINESS ADDRESS:	
		STREET 1:		777 W. MAIN STREET, SUITE 900
		CITY:			BOISE
		STATE:			ID
		ZIP:			83702
		BUSINESS PHONE:		208-918-2400

	MAIL ADDRESS:	
		STREET 1:		777 W. MAIN STREET, SUITE 900
		CITY:			BOISE
		STATE:			ID
		ZIP:			83702

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WCAS XIII CARBON ANALYTICS ACQUISITION, L.P.
		CENTRAL INDEX KEY:			0001879859
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		C/O WELSH, CARSON, ANDERSON & STOWE
		STREET 2:		599 LEXINGTON AVENUE, 18TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		(212) 893-9500

	MAIL ADDRESS:	
		STREET 1:		C/O WELSH, CARSON, ANDERSON & STOWE
		STREET 2:		599 LEXINGTON AVENUE, 18TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001193125-22-040865</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001879859</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>4</amendmentNo>
      <securitiesClassTitle>Class A common stock, par value $0.001 per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>06/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001866368</issuerCik>
        <issuerName>Clearwater Analytics Holdings, Inc</issuerName>
        <issuerCusip>185123106</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <street1 xmlns="http://www.sec.gov/edgar/common">777 W. MAIN STREET</street1>
          <street2 xmlns="http://www.sec.gov/edgar/common">SUITE 900</street2>
          <city xmlns="http://www.sec.gov/edgar/common">BOISE</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">ID</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">83702</zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(d)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>WCAS XIII Carbon Analytics Acquisition, L.P.</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>4820856</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>4820856</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>4820856</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>1.6</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>The reported securities include (i) 2,069,714 shares of Class A common stock ("Class A Shares"); and (ii) 2,751,142 Class A Shares issuable in respect of 2,751,142 shares of Class B common stock ("Class B Shares"), together with an equal number of limited liability company units of CWAN Holdings LLC ("LLC Interests").

The reported percentage is calculated using 292,445,162 Class A Shares outstanding based upon (i) 287,938,740 Class A Shares outstanding as of August 4, 2025, as reported on the Form 10-Q filed with the SEC by the Issuer on August 6, 2025 and (ii) 4,506,422 Class A Shares issuable in respect of 4,506,422 Class B Shares (together with an equal number of LLC Interests) outstanding as of August 4, 2025, as reported on the Form 10-Q filed with the SEC by the Issuer on August 6, 2025. </comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>WCAS GP CW LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>4820856</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>4820856</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>4820856</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>1.6</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>The reported securities include (i) 2,069,714 Class A Shares; and (ii) 2,751,142 Class A Shares issuable in respect of 2,751,142 Class B Shares (together with an equal number of LLC Interests).

The reported percentage is calculated using 292,445,162 Class A Shares outstanding based upon (i) 287,938,740 Class A Shares outstanding as of August 4, 2025, as reported on the Form 10-Q filed with the SEC by the Issuer on August 6, 2025 and (ii) 4,506,422 Class A Shares issuable in respect of 4,506,422 Class B Shares (together with an equal number of LLC Interests) outstanding as of August 4, 2025, as reported on the Form 10-Q filed with the SEC by the Issuer on August 6, 2025.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>WCAS XIII Carbon Investors, L.P.</reportingPersonName>
      <citizenshipOrOrganization>E9</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>4820856</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>4820856</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>4820856</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>1.6</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>The reported securities include (i) 2,069,714 Class A Shares; and (ii) 2,751,142 Class A Shares issuable in respect of 2,751,142 Class B Shares (together with an equal number of LLC Interests).

The reported percentage is calculated using 292,445,162 Class A Shares outstanding based upon (i) 287,938,740 Class A Shares outstanding as of August 4, 2025, as reported on the Form 10-Q filed with the SEC by the Issuer on August 6, 2025 and (ii) 4,506,422 Class A Shares issuable in respect of 4,506,422 Class B Shares (together with an equal number of LLC Interests) outstanding as of August 4, 2025, as reported on the Form 10-Q filed with the SEC by the Issuer on August 6, 2025.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>WCAS XIII Associates LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>4820856</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>4820856</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>4820856</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>1.6</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>The reported securities include (i) 2,069,714 Class A Shares; and (ii) 2,751,142 Class A Shares issuable in respect of 2,751,142 Class B Shares (together with an equal number of LLC Interests).

The reported percentage is calculated using 292,445,162 Class A Shares outstanding based upon (i) 287,938,740 Class A Shares outstanding as of August 4, 2025, as reported on the Form 10-Q filed with the SEC by the Issuer on August 6, 2025 and (ii) 4,506,422 Class A Shares issuable in respect of 4,506,422 Class B Shares (together with an equal number of LLC Interests) outstanding as of August 4, 2025, as reported on the Form 10-Q filed with the SEC by the Issuer on August 6, 2025.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Clearwater Analytics Holdings, Inc</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>777 W. Main Street, Suite 900 Boise, ID 83702</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>This statement is filed by the entities and persons listed below, all of whom together are referred to herein as the "Reporting Persons."
(i)	WCAS XIII Carbon Analytics Acquisition, L.P.
(ii)	WCAS GP CW LLC
(iii)	WCAS XIII Carbon Investors, L.P.
(iv)	WCAS XIII Associates LLC</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>C/O Welsh, Carson, Anderson &amp; Stowe
599 Lexington Avenue, 18th Floor
New York, New York 10022</principalBusinessOfficeOrResidenceAddress>
        <citizenship>See responses to Item 4 on each cover page.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>See responses to Item 9 on each cover page.

LLC Interests are each convertible into one Class A Share. In connection with such conversion, an equal number of Class B Shares will be redeemed and cancelled for no consideration.

The reported securities includes 2,335,196 Class B Shares (together with an equal number of LLC Interests) directly held by WCAS XIII Carbon Analytics Acquisition, L.P., 153,472 Class B Shares (together with an equal number of LLC Interests) directly held by WCAS GP CW LLC, 1,885,283 Class A Shares directly held by WCAS XIII Carbon Investors, L.P., and 262,474 Class B Shares (together with an equal number of LLC Interests) and 184,431 Class A Shares directly held by WCAS XIII Associates LLC (together, the "WCAS Entities").

The general partner of WCAS XIII Carbon Analytics Acquisition, L.P. and WCAS XIII Carbon Investors, L.P. and the managing member of WCAS GP CW LLC is WCAS XIII Associates LLC. Investment and voting decisions with respect to the shares held by the WCAS Entities are made by a committee comprised of three or more individuals and all members of such committee disclaim beneficial ownership of the shares. The filing of this Schedule 13G shall not be construed as an admission that any Reporting Person is the beneficial owner of any or all of the reported securities for the purposes of Section 13 or for any other purpose.

The reported percentage is calculated using 292,445,162 Class A Shares outstanding based upon (i) 287,938,740 Class A Shares outstanding as of August 4, 2025, as reported on the Form 10-Q filed with the SEC by the Issuer on August 6, 2025 and (ii) 4,506,422 Class A Shares issuable in respect of 4,506,422 Class B Shares (together with an equal number of LLC Interests) outstanding as of August 4, 2025, as reported on the Form 10-Q filed with the SEC by the Issuer on August 6, 2025.

As a result of the Reporting Persons owning less than five percent of the Issuer's outstanding common stock, the Reporting Persons are no longer subject to Section 13 Reporting.
</amountBeneficiallyOwned>
        <classPercent>See responses to Item 11 on each cover page.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>See responses to Item 5 on each cover page.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>See responses to Item 6 on each cover page.</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>See responses to Item 7 on each cover page.</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>See responses to Item 8 on each cover page.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>N</notApplicableFlag>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>Y</notApplicableFlag>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>WCAS XIII Carbon Analytics Acquisition, L.P.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>By: WCAS XII Associates LLC, its general partner</title>
        <date>08/13/2025</date>
      </signatureDetails>
      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>Jennifer Martin, Managing Member</title>
        <date>08/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>WCAS GP CW LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>By: WCAS XIII Associates LLC, its managing member</title>
        <date>08/13/2025</date>
      </signatureDetails>
      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>Jennifer Martin, Managing Member</title>
        <date>08/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>WCAS XIII Carbon Investors, L.P.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>By: WCAS XIII Associates LLC, its general partner</title>
        <date>08/13/2025</date>
      </signatureDetails>
      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>Jennifer Martin, Managing Member</title>
        <date>08/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>WCAS XIII Associates LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>Jennifer Martin, Managing Member</title>
        <date>08/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureComments>Exhibit B	  	Joint Filing Agreement, incorporated by reference to Exhibit B in the Schedule 13G filed on February 14, 2025.</signatureComments>
  </formData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
