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    <periodOfReport>2026-06-25</periodOfReport>

    <notSubjectToSection16>true</notSubjectToSection16>

    <issuer>
        <issuerCik>0001866368</issuerCik>
        <issuerName>Clearwater Analytics Holdings, Inc.</issuerName>
        <issuerTradingSymbol>CWAN</issuerTradingSymbol>
        <issuerForeignTradingSymbol></issuerForeignTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001441361</rptOwnerCik>
            <rptOwnerName>Cox James S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>false</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>C/O CLEARWATER ANALYTICS HOLDINGS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>777 W. MAIN STREET, SUITE 900</rptOwnerStreet2>
            <rptOwnerCity>BOISE</rptOwnerCity>
            <rptOwnerState>ID</rptOwnerState>
            <rptOwnerZipCode>83702</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

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    <footnotes>
        <footnote id="F1">The reported securities were disposed of pursuant to the terms of the Agreement and Plan of Merger (the &quot;Merger Agreement&quot;), dated as of December 20, 2025, by and among the Issuer, GT Silver BidCo, Inc. (&quot;Parent&quot;) and GT Silver Merger Sub, Inc., a wholly-owned subsidiary of Parent. Under the terms of the Merger Agreement, each share of the Issuer's Class A Common Stock (&quot;Common Stock&quot;) issued and outstanding immediately prior to the effective time of the Merger (the &quot;Effective Time&quot;) was converted into the right to receive an amount in cash equal to $24.55 per share, without interest (the &quot;Merger Consideration&quot;).</footnote>
        <footnote id="F2">The reported Performance Stock Units (&quot;PSUs&quot;) had their performance conditions deemed achieved at 110% of target pursuant to the terms of the Merger Agreement, but remain subject to any time-vesting conditions.</footnote>
        <footnote id="F3">At the Effective Time, all outstanding options to purchase shares of Common Stock (&quot;Options&quot;) and Restricted Stock Units (&quot;RSUs&quot;) held by non-employee directors were canceled in exchange for a cash payment equal to the Merger Consideration multiplied by the number of shares of Common Stock subject to the award, less the aggregate exercise price in the case of any Options. In the case of PSUs and RSUs not held by non-employee directors, the awards were also canceled in exchange for a cash payment, calculated in the same manner as for RSUs held by non-employee directors, but the resulting cash payment will be subject to the time-vesting terms and conditions that applied to the underlying award immediately prior to the Effective Time. At the Effective Time, a portion of the reported Options became options to purchase shares of an affiliate of Parent.</footnote>
        <footnote id="F4">The reported RSUs were scheduled to vest on January 1, 2027.</footnote>
        <footnote id="F5">The reported RSUs were scheduled to vest in equal installments at the end of each 3-month period following June 30, 2026 and until December 31, 2027.</footnote>
        <footnote id="F6">The reported RSUs were scheduled to vest in equal installments at the end of each 3-month period following June 30, 2026 and until December 31, 2028.</footnote>
        <footnote id="F7">The reported Options were all fully vested.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Alphonse Valbrune, as Attorney-in-Fact, for James S Cox</signatureName>
        <signatureDate>2026-06-25</signatureDate>
    </ownerSignature>
</ownershipDocument>
