CIA-backed #Palantir valued at $9bn - FT.com
Palantir’s initial funding came from #In-Q-Tel, the CIA’s not-for-profit venture capital firm, and it has received several rounds of funding from the Founder’s Fund, a venture capital fund run by former PayPal chief executive and Facebook backer #Peter_Thiel. Other venture capital investors include Glenn Capital Management and Ulu Ventures.
The company raised almost $200m in a fundraising round less than three months ago, and then also would not disclose the identity of the investors. Founded by #PayPal alumni and #Stanford computer scientists in 2004, the company has raised almost $800m in total.
The CIA and the FBI use the Palantir platform to seek patterns in large amounts of disparate data which can be used to help guide their actions, for example, in the tracking of terror suspects, drug trafficking or cyber crime.
But Palantir’s work for the private sector is the fastest growing part of the business, and now makes up more than 60 per cent. It offers companies anti-fraud services, warnings about insider trading threats and programmes which promise to help accelerate the research and development process in the pharmaceuticals industry.