Palantir Technologies, the big data analysis company founded in 2004 by a team of ex-PayPal employees including Peter Thiel, has raised $56 million in new funding, according to a document filed today with the Securities and Exchange Commission.
This is by no means Palantir’s first go-round with venture capital investors. This is the company’s 7th round of funding, according to our records — back in October 2011, Palantir closed on a $70 million round of funding that served as its Series F. That raise was held at a $2.5 billion valuation, according to TechCrunch sources.
What Palantir does is not at all easy — or cheap. The company provides high-powered software platforms that let users integrate, visualize, and analyze large quantities of data. Perhaps most importantly, Palantir specifically has targeted its products to two sectors that need to parse large amounts of classified information, and require super solid security: Government and finance. The company counts governmental organizations such as the FBI and financial institutions such as JP Morgan as customers. Palantir has doubled in size each year since it was founded, according to its website.
We’ve reached out for more information from Palantir, and will update this post when we hear back.