Palantir Technologies builds platforms for integrating, managing, and securing data and layers applications for fully interactive human-driven, machine-assisted analysis. The company says it is focused on creating the world's best user experience for working with data, enabling people to ask and answer complex questions without mastering querying languages, statistical modeling, or the command line. The article lists Palantir's location as Palo Alto, CA. The report notes Palantir received a $500M investment from Sompo Holdings. The article does not disclose valuation, stake size, or other participating investors. No operating metrics or additional future product specifics are provided beyond the stated user-experience focus. Palantir builds analytics, security and data‑management software for government, finance, healthcare and other large organisations. The company is famously secretive; reporting and leaks have highlighted its client list as well as internal struggles such as staff churn and difficulty holding on to customers unwilling to pay its fees. Peter Thiel is a co‑founder, chairman and major shareholder, and Palantir is closely tied to Washington. In October a court ordered the U.S. Army to re‑open bidding on a data system contract so Palantir could compete. The company has signalled plans that may include an IPO around mid‑2017 and CEO Alex Karp said Palantir is projecting profitability for the following year. To date Palantir has raised over $2 billion in funding and continues to pursue large government and commercial contracts. Palantir develops a data‑analysis platform used by government agencies and law enforcement to make connections from large piles of information. The company has been described as secretive given the nature of its work and disclosed clients. TechCrunch reporting and a leaked 2013 document note deployments across 50 programs and use by at least 12 U.S. government groups (including the CIA, DHS, NSA, FBI, CDC, military branches and other agencies) and cite the Securities Investment Protection Corporation’s use of Palantir to help convict Bernie Madoff. Per an SEC filing, Palantir began raising the current round in July and secured $880 million in new funding as part of an earlier $679.8 million, bringing total capital raised to $2.32 billion. The financing values the company at $20.33 billion. Palantir is one of the largest private employers in Palo Alto with more than 2,000 employees and is expected to use the funds to grow into new fields and further develop its technology. Palantir builds large-scale data analytics software and secured early high-profile government customers including the NSA, FBI and CIA while expanding into private-sector accounts. The company has used recent capital for acquisitions such as Poptip and Propeller, having previously acquired VoiceGem in early 2013. Recent SEC filings show Palantir has raised $50 million to date in an ongoing financing and has authorized $400 million of new preferred stock. If the full $400 million round closes, CrunchBase data would bring Palantir's total capital raised to roughly $1.35 billion, compared with CrunchBase's prior figure of $950 million and differing totals reported by VC Experts. Reporting indicates the new round is priced higher than the company's prior financing, which CrunchBase says closed in September at $444.2 million after earlier reports of a $9 billion valuation. The filings cited do not disclose participating investor names. Palantir builds an analysis platform that pulls disparate reams of data together to make otherwise hard-to-detect patterns and connections visible to users. The company grew initially by working with government agencies on counterterrorism and drug‑trafficking analysis and early clients included the NSA, the FBI and the CIA. It has since expanded beyond government into the private sector, cybersecurity and the pharmaceutical industry. Founded in 2004 by Peter Thiel with an early team including Alex Karp, Joe Lonsdale, Stephen Cohen and Nathan Gettings, Alex Karp is the current CEO. Palantir says revenues are set to top half a billion this year and that it expects at least $1 billion in contracts next year. The company has raised at least $650 million to date and recently completed additional financings that increased its valuation.

Total raised

$1.8B

Funding rounds

9

Latest round

Equity

Latest activity

Jun 2020