After raising a whopping $90 million last year, Palantir Technologies appears to be raising another big round. According to an SEC filing, the company has just raised $50 million in new funding. This would bring Palantir’s total funding to $175 million. The company declined to comment on the filing.
Founded in 2004 by former PayPal employees and Stanford computer scientists, Palantir offers a high-powered analysis platform. Palantir Government and Palantir Finance both integrate, visualize, and analyze information in these sectors. The company analyzes a variety of data including structured, unstructured, relational, temporal, and geospatial content. The virtue of of Palantir is that it accepts huge databases and allows users to slice and dice this information.
Palantir told us last year that revenues have at least doubled every year for the last three years. And in the company’s last round, its valuation was pegged at $735 million; so it should be interesting to see if the company will hit a $1 billion valuation in the new round.
Of course, this could be part of a larger round, so the company could be raising more than $50 million.
Palantir’s mission is to solve the most important problems for the world’s most important institutions. Palantir was founded in 2004 by a handful of PayPal alumni and Stanford computer scientists. Since then Palantir has doubled in size every year while retaining early-stage values: a startup culture, strong work ethic, and rigorous hiring standards. Palantir works in a variety of problem areas for various customers in both private and public sector, helping them answer questions like: How do you prevent the next...