Palantir, a US-based big data analytics company backed by information firm RELX, has received $20m in funding from an unnamed investor, TechCrunch reported on Thursday citing a securities filing.
Founded in 2005, Palantir has largely kept details about its offering under wraps, though various leaks over the years appear to confirm that the company has developed a big data platform that connects the dots between known criminals.
The technology is used by clients such as financial services firms and government agencies, with the latter in part thanks to Palantir’s investor In-Q-Tel, the investment affiliate of the US intelligence community.
Palantir has raised more than $2bn to date. In December 2015, the company closed an $880m funding round provided by unnamed investors and valuing Palantir at $20.3bn.
RELX led a $35m series B round in 2009 through its corporate venturing division Reed Elsevier Ventures.
Khazanah Nasional, the sovereign wealth fund of Malaysia, has also invested in Palantir according to the fund’s website, though details have not been revealed.
Remaining backers include 137 Ventures, Tiger Global Management, Founders Fund, Artis Ventures, Glynn Capital Management, GSV Ventures, Kortschak Investments, Mithril Capital, REV, Sozo Ventures and Ulu Ventures as well as assorted angel investors.
Palantir is reportedly gearing up for an initial public offering in mid-2017, following comments from co-founder and chief executive Alex Karp last month that the company expects to reach profitability next year.