The Palo Alto, Calif. company is reportedly now valued at $20 billion.
Palantir continues to shovel cash into its coffers.
The 11-year-old, secretive, data company has raised an additional $880 million at a $20 billion valuation, according to a report from the New York Times citing anonymous sources. This latest round of funding began last summer and grew in size after the company received additional money in recent weeks.
Previously, Palantir was valued at $15 billion. The company has now raised approximately $2 billion in funding to date.
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Palantir provides services and software that helps its customers perform highly sophisticated data analysis. Though it works with customers in a variety of industries, it’s best known for its work with military and law enforcement agencies.
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This new funding is the company’s eleventh round and will likely be used for hiring and business expansion, according to the report. Palantir co-founder and CEO Alex Karp has said in the past that he would like to keep the company private.
We have reached out to Palantir for comment, and will update the story when we hear more.