Palantir Receives Seventh Round of Funding
May 24, 2012
Palantir is in the money again, TechCrunch informs us in “Palantir Technologies Nabs $56M in New Funding, SEC Filing Shows.” According to the article, this is the seventh round of venture capital funding for the data management company.
What is the company doing with this money?
That’s a lot of investment. What are these folks inventing? Writer Colleen Taylor doesn’t seem quite sure, noting that TechCrunch has requested more information from the company. She plans to update her post when she gets a response. For now, she writes:
“The company provides high-powered software platforms that let users integrate, visualize, and analyze large quantities of data. Perhaps most importantly, Palantir specifically has targeted its products to two sectors that need to parse large amounts of classified information, and require super solid security: Government and finance. The company counts governmental organizations such as the FBI and financial institutions such as JP Morgan as customers. Palantir has doubled in size each year since it was founded, according to its website.”
With founding members from such promising pools as PayPal alumni and Stanford computer science grads, Palantir launched in 2004. Its two products, Palantir Government and Palantir Finance, work with a wide range of data types. The company is based in Palo Alto, CA, and has offices in Virginia, New York, and London. Despite its growth, Palantir strives to retain its startup attitude and maintain the highest of standards.
But. . . just what are they working on now? Try turning back to the TechCrunch article to see whether Taylor got her answers. Other companies are able to push forward without sucking tens of millions in cash. Check out www.ikanow.com and www.digitalreasoning.com.
Cynthia Murrell, May 24, 2012
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