Palantir nears US$20bn valuation amid US$500m fundraising

24 Jun 2015

Secretive data crunching technology player Palantir could reach a valuation of US$20bn if it raises US$500m in a new funding round.

Data-crunching player Palantir could be the third most valuable start-up in the US as reports indicate it is raising US$500m in a funding round that could grow its valuation to US$20bn.

The secretive big data and analytics player – whose technology is used by the US Government and Wall Street – was co-founded by billionaire investor Peter Thiel and Joe Lonsdale and is headed by CEO Alex Karp.

The company could now be the third highest-valued US tech start-up after Uber, which is lately understood to be raising funds that would value it at US$50bn, and Airbnb, which is worth around US$24bn.

According to Crunchbase, Palantir has raised US$1bn so far in 15 rounds from nine investors. The company is also understood to have more than US$1bn on its balance sheet, according to BuzzFeed.

Support Silicon Republic

Palantir’s technology makes it easy for engineers to crunch through troves of data.

The company is understood to have more than US$215m in contracts with US government departments, including the Department of Defense and the Department of Homeland Security.

Crystal ball image via Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years