New details on Palantir round

Oct 07, 2011

Silicon Valley's hottest non-consumer startup keeps getting richer.

TechCrunch yesterday reported that Palantir Technologies, a Silicon Valley-based provider of analytics platforms for financial and intelligence clients, has raised $70 million in Series F funding. From the post:

"While the company declined to reveal the valuation in the round, we've learned from sources that it is around $2.5 billion. Two unnamed New York-based hedge funds anchored the round, and multiple early investors and university endowments participated in the round."

I initially thought this was the same round we discussed here back in May, which was being pitched with a valuation of between $2.5 billion and $3 billion. But Justin Byers, an analyst at, emailed to say that Palantir authorized $50 million in Series E funding back in April, and then $68 million for a Series F in August. In other words, this seems to be new money. Moreover, a source tells me that TechCrunch is understating the new valuation, which he tells me is actually closer to $4 billion.

We also hear that SAC Capital is one of the two unnamed hedge funds. Not yet sure who the other one was, but it may have been Tiger Global Management -- a firm first identified in that May post. Other past Palantir backers include The Founders Fund, Glynn Capital, In-Q-Tel, Reed Elsevier Ventures, Ulu Ventures, Youniversity Ventures and Yelp co-founder Jeremy Stoppelman.

Sign up for my daily email newsletter on deals and deal-makers:

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions