Company: CWAN
Filing Date: 2025-03-31
Form Type: 425
Source: 0001193125-25-067656
Chunk: 0

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-31
Form: 425
Chunk 0
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Filed by Clearwater Analytics Holdings, Inc.

Pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934, as amended

Subject Company: Enfusion, Inc.

Registration Statement No. 333-284816

SUPPLEMENT NO. 1 DATED MARCH 31, 2025

TO

THE PROXY STATEMENT/PROSPECTUS DATED MARCH 20, 2025

This Supplement No. 1 (this “Supplement”) supplements the definitive proxy
statement/prospectus dated March 20, 2025 (the “Definitive Proxy Statement/Prospectus”), which was first mailed to stockholders of Enfusion, Inc. (“Enfusion”) on or about March 20, 2025 in connection with the special
meeting of stockholders of Enfusion, Inc. to, among other things, consider and adopt the Agreement and Plan of Merger, dated January 10, 2025, by and among Enfusion, Clearwater Analytics Holdings, Inc. (“Clearwater”), Enfusion Ltd.
LLC, a subsidiary of Enfusion, Poseidon Acquirer, Inc., a wholly-owned subsidiary of Clearwater, Poseidon Merger Sub I, Inc., a wholly-owned subsidiary of Clearwater, and Poseidon Merger Sub II, LLC, an indirect subsidiary of Clearwater. Capitalized
terms used but not defined herein shall have the meanings ascribed thereto in the Definitive Proxy Statement/Prospectus. Except as described below, this Supplement does not otherwise modify or amend any information previously provided in the
Definitive Proxy Statement/Prospectus, which should be read together with this Supplement.

This Supplement provides the following updated information
with respect to the Joint Election procedure for Enfusion stockholders to elect the Merger Consideration they wish to receive in connection with the Mergers, as previously described in the Definitive Proxy Statement/Prospectus:

Stockholders of Enfusion are hereby advised that, due to administrative and practical limitations, holders of Eligible Shares will not be
entitled to make a Joint Election. To make a valid election, each holder of Eligible Shares must submit to the Exchange Agent a properly completed and signed Election Form. This change to the Joint Election procedure does not affect the Merger
Consideration that holders of Eligible Shares who complete their Election Form individually would have received had