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Palantir raises $450m in latest fund-raising round

Big Brother software outfit is the toast of Silicon Valley

By Kat Hall, 24 Jul 2015

CIA-backed Palantir has raised $450m (£289m) from investors, valuing the biz at $20bn (£13bn).

Palantir's software is most famous for reportedly helping the US government track down Osama bin Laden, although this is something it has refused to confirm.

It was also backed in its early stages by the the CIA's In-Q-Tel venture capital arm.

In addition to its "big data" analytics, the outfit runs data centres for US intelligence and military services.

In the last year alone Palantir has closed $60m (£39m) in government contracts, mainly with the Department of Defense, the Department of Homeland Security, and the Department of Justice.

The Securities and Exchange Commission also recently hired Palantir Technologies to help it uncover illegal trading activity in a deal worth $6m (£3.9m).

According to the filing, the biz has a further $50m of stock to flog, placing the grand total of fund raising pot at $500m.

According to the Wall Street Journal, the company raised the cash on the back of it valuation of $20bn, sources told the paper. This will make the outfit one of the most valuable private tech companies in Silicon Valley.

The last official valuation of the company was around 18 months ago, which pegged the biz at $9bn (£6bn). ®

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