Palantir Technologies Raises $70 Million At $2.5 Billion Valuation

Palantir Technologies has raised $70 million in Series F funding, we’ve confirmed with the company. This brings Palantir’s total funding to nearly $200 million. While the company declined to reveal the valuation in the round, we’ve learned from sources that it is around $2.5 billion. Two unnamed New York-based hedge funds anchored the round, and multiple early investors and university endowments participated in the round.

Founded in 2004 by former PayPal employees and Stanford computer scientists, Palantir offers a high-powered data 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 Palantir is that it accepts huge databases and allows users to slice and dice this information.

Palantir says its platform works at any scale while also promising security and civil liberties protections. Clearly this makes it ideal for governments and financial institutions, who need to analyze large amounts of classified, secure data.

While the company’s technologies has been popular amongst government agencies (including the FBI), Palantir has revealed that 60 percent of its business actually comes from the commercial sector. In fact, the company closed a number of recent deals in the commercial space, including a deal with financial giant JP Morgan Chase.

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 last year (in which it raised $90 million), its valuation was pegged at $735 million; so clearly the company has taken a big jump in value in the past year.

Early investors include former PayPal CEO Peter Thiel (who is the Chairman of Palantir’s board as well), and the CIA’s venture arm In-Q-Tel.

We had originally reported on an SEC filing revealing some of this most recent round in May, and AllThingsD reported a few weeks ago of another SEC filing that showed additional fundraising. As the company confirmed to us today, this round has closed and Palantir now has another $75 million in its coffers.