Palantir Grossed a Sum of $500M in A Recent Round of Funding

Palantir Technology limited grossed a total sum of $500M in a recent round of funding. According to all the reports on this topic the company was aim

Palantir Technology limited grossed a total sum of $500M in a recent round of funding. According to all the reports on this topic the company was aiming to keep it a secret for another 2 weeks. However, the news got leaked and everyone is willing to know about this deal.

Rumours say that this new deal came from a Japanese insurance holding company named Sompo Holdings. Sompo Holdings itself conceded in a recent interview about their new investment in Palantir Technologies. After this new round Palantir’s net worth increased to a hoping amount of %2.5 Billion, according to the reports on their net worth.

As CEO of the respective company stated in a recent interview that Palantir needs to arrange money now more than ever as they would go public in the upcoming year. Mr Alex Carp added that even though their initial plan was to go public next year, but because of the big money they got from Sompo Holdings they are now ready more than ever to go public.

After his statement news burst out that Palantir is planning to go public within the next two weeks confidentially, which means they don’t want the media or any of their competitors to know about their big move. Even though Mr Alex gave Axios and HBO a little insight into their work they never finalized it or said any particular date on which they might go public.

After Covid-19 was declared as a pandemic a lot of companies were affected by the situation. Besides the techno IPO market was down for a long time because of this pandemic as well. It’s been only a few weeks that all the technology companies have resumed their work. Palantir, as well as a few other companies, publicly filed their S-1 registration file to the U.S. government so that they can boost start their company amidst this pandemic. The security and exchange commission of Palantir technologies are allowed to go public within the next few weeks.

About Palantir, it is a renowned data analytics company, partially found by Mr Peter Thiel in the year 2004. Lately, for various reasons the company went private and used to make deals confidentially until this recent round of funding by Sompo Holdings. During all these years of being private, some of their loyal investors like Founders Fund, Manhattan Venture Partners and REV kept them running by constant investments.

With the new investment from Sompo Holdings, one more investor is added in the list. Apart from this $500 Million deal, Sompo and Palantir announced a new project where they will be working on “Real Data Platform For Security, Health and Wellbeing”. They also included that this project will focus on nursing and health care in Japan.

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