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Palantir<\/a>, the secretive big data and analytics provider that works with governments and other public and private organizations to power national security<\/a>, health<\/a> and a variety<\/a> of other services, has reportedly<\/a> been eyeing up a public listing this autumn. But in the meantime it’s also continuing to push ahead in the private markets.<\/p>\n The company has filed a Form D<\/a> indicating that it is in the process of raising nearly $1 billion — $961,099,010, to be exact — with $549,727,437 of that already sold, and a further $411,371,573 remaining to be raised.<\/p>\n The filing appears to confirm a report from back in September 2019<\/a> that the company was seeking to raise between $1 billion and $3 billion, its first fundraising in four years. That report noted Palantir was targeting a $26 billion valuation, up from $20 billion four years ago. A Reuters article from June<\/a> put its valuation on secondary market trades at between $10 billion and $14 billion.<\/p>\n The bigger story of that Reuters report was that Palantir confirmed<\/a> two fundraises from strategic investors that both work with the company: $500 million in funding from Japanese insurance company Sompo Holdings, and $50 million from Fujitsu. Together, it seems like these might account for $550 million already sold on the Form D.<\/p>\n It’s not clear if this fundraise would essentially mean a delay to a public listing, or if it would complement it.<\/p>\n To date Palantir has raised $3.3 billion in funding, according to PitchBook data<\/a>, with no less than 108 investors on its cap table. But if you dig into the PitchBook data (some of which is behind a paywall) it also seems that Palantir has raised a number of other rounds of undisclosed amounts. Confusingly (but probably apt for a company famous for being secretive) some of that might also be part of this Form D amount.<\/p>\n We have reached out to Palantir to ask about the Form D and will update this post as we learn more.<\/p>\n While Palantir was last valued at $20 billion when it last raised money four years ago, there are some data points that point to a bigger valuation today.<\/p>\n In April, according to a Bloomberg report<\/a>, the company briefed investors with documents showing that it expects to make $1 billion in revenues this year, up 38% on 2019, and breaking even in the first time since being founded 16 years ago by Peter Thiel, Nathan Gettings, Joe Lonsdale, Stephen Cohen, and current CEO, Alex Karp.<\/p>\n (The Bloomberg report didn’t explain why<\/em> Palantir was briefing investors, whether for a potential public listing, or for the fundraise we’re reporting on here, or something else.)<\/p>\n On top of that, the company has been in the news a lot around the global novel coronavirus pandemic. Specifically, it’s been winning business, in the form of projects in major markets like the UK (where it’s part of a consortium of companies working with the NHS<\/a> on a COVID-19 data trove) and the US (where it’s been working on a COVID-19 tracker<\/a> for the federal government and a project with the CDC<\/a>), and possibly others<\/a>. Those projects will presumably need a lot of upfront capital to set up and run, possibly one reason raising money now.<\/p>\n Tags:<\/b> Ingrid Lunden<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" <\/div>\nSee Campaign: <\/strong>http:\/\/http:\/\/palantir.com\/<\/a>
Contact Information:<\/b>
Ingrid Lunden<\/p>\n
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Palantir, the secretive big data and analytics provider that works with governments and other public and private organizations to power national security, health and a variety of other services, has reportedly been eyeing up a public listing this autumn. But in the meantime it’s also continuing to push ahead in the private markets. The company has filed a Form D indicating that it is … Continue reading SEC filing indicates big data provider Palantir is raising $961M, $550M of it already secured<\/span><\/a> Continue Reading