Palantir Raises $196.5M, According To SEC Filing
Palantir is a big data company that has clients like the NSA, the FBI and the CIA. The company has raised $196.5 million in growth capital funding, according to a filing with the SEC. According to sources with TechCrunch, the funding has not been finalized yet though.
Palantir was founded in 2004 by PayPal co-founder Peter Thiel. Thiel believed that PayPal’s anti-fraud technology could be used for fighting terrorism. Alex Karp, Joe Lonsdale, Stephen Cohen, and Nathan Gettings are also listed as co-founders.
The service is used for analyzing data related to terrorism and drug trafficking. The company will likely hit $1 billion in contracts next year, but they are not yet profitable. Some of the early investors in the company include Founders Fund, Jeremy Stoppelman, and Ben Ling.