Palantir Lifted Additional $20 Million

Palantir Lifted Additional $20 Million
Business

Palantir Lifted Additional $20 Million

Palantir Technologies, which is an American company based on big data, invested almost $20 Billion on government, healthcare, finance and other organizations with security, analytics and other management of data. And now, the company is said to have raised more $20 million.

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This amount is more average to the company. In its previous round of fundraising, which took place in December 2017, the company settled at $880 Million. To date, the company has raised about $2 Billion plus with the help of its investors. These investors consists of 137 Ventures, Khazanah Nasional, Kortschak Investments, Founders Fund, GSV Ventures, Jeremy Stoppelman, REV, Sozo Ventures, Artis Ventures, Glynn Capital Management, Ben Ling, the CIA-supported fund In-Q-Tel, Keith Rabois, Mithril Capital, and Ulu Ventures. Current investors Inventus Capital Partners, IDG Ventures, and Nirvana Ventures also took part in the round.

Palantir has seen many ups and down while raising these $20 million. Also the company has never shown positive signs on talking about its business and activities. Hence we are not sure about what ups and downs did the company faced?

The recent news that was confirmed is: the company is planning an IPO which will happen in June-2018. Alex Karp, co-founder and CEO of the company, said that he will raise more fund in 2018 as company is likely to have more profit than previous.

The funds lifted will be spent in improving proprietary software, which processes and captures over 50 shopper information signals to fuel modified navigation, search, and product suggestions on e-commerce websites. Palantir will also commence new offices to be nearer to its users in New York and Chicago. Palantir lifted its whole-year adjusted profit forecast to a tune of $1.86 and $1.88 for each share to $1.84 for each share from $1.80 for each share.

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