By Dan Primack
October 7, 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.

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