Palantir Has Raised $880 Million At A $20 Billion Valuation

Palantir, the data analytics platform used by government agencies and law enforcement pocketed $880 million in new funding, according to a filing from the Securities and Exchange Commission out today.

This latest round of funding is part of an earlier $679.8 million raised so far, according to an updated version of the SEC filing. Palantir began raising the round in July, according to the filing. The startup has now raised $2.32 billion in total.

Palantir also now has a valuation of $20.33 billion, up from $15 billion in 2014. The new valuation makes it the fourth most highly valued tech startup, just under Airbnb, Xiaomi and Uber.

This startup’s inner workings have largely remained in a shroud, due to the nature of its work with various government agencies. However, TechCrunch obtained a leaked document earlier this year, dating back to 2013, which revealed key clients and an extensive amount of data analysis tools used by the startup to make connections from large piles of information. The Securities Investment Protection Corporation used Palantir’s technology to convict Ponzi schemer Bernie Madoff, for example.

The file also revealed Palantir’s work in Washington – including expanded contracts within 50 programs by 2013 and 12 U.S. government groups, including the CIA, DHS, NSA, FBI, the CDC, the Marine Corps, the Air Force, Special Operations Command, West Point, the Joint IED-defeat organization and Allies, the Recovery Accountability and Transparency Board and the National Center for Missing and Exploited Children.

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Morgan Stanley and S F Sentry Securities Inc. are listed on the filing as brokers in the deal.

Palantir’s next step isn’t likely to be filing for an IPO as founder Alex Karp hasn’t been keen on that idea in the past. Palantir is one of the largest private employers in Palo Alto, California, with more than 2,000 employees. It will likely use the funds to continue growing into new fields and building on its secretive technology.

We’ve reached out to Palantir for more information.