{"id":19524,"date":"2020-07-03T07:36:24","date_gmt":"2020-07-03T07:36:24","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/sec-filing-indicates-big-data-provider-palantir-is-raising-961m-550m-of-it-already-secured.html"},"modified":"2020-07-03T07:36:24","modified_gmt":"2020-07-03T07:36:24","slug":"sec-filing-indicates-big-data-provider-palantir-is-raising-961m-550m-of-it-already-secured","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/sec-filing-indicates-big-data-provider-palantir-is-raising-961m-550m-of-it-already-secured.html","title":{"rendered":"SEC filing indicates big data provider Palantir is raising $961M, $550M of it already secured"},"content":{"rendered":"

Palantir<\/a>, the sometimes controversial, but always secretive, big data and analytics provider that works with governments and other public and private organizations to power national security<\/a>, health<\/a> and a variety<\/a> of other services, has reportedly<\/a> been eyeing a public listing this autumn. But in the meantime it\u2019s also continuing to push ahead in the private markets.<\/p>\n

The company has filed a Form D<\/a> \u2014 its first in four years \u2014 indicating that it is in the process of raising nearly $1 billion \u2014 $961,099,010, to be exact \u2014 with $549,727,437 of that already sold, and a further $411,371,573 remaining to be raised.<\/p>\n

(A Reuters report from June<\/a> confirmed that\u00a0Palantir had closed funding from two strategic investors that both work with the company: $500 million from Japanese insurance company Sompo Holdings, and $50 million from Fujitsu. Together, it seems like these might account for $550 million noted as already sold on the Form D.)<\/p>\n

The Form D also notes that 58 investors are already attached to the offering, and that \u201cof the total remaining to be sold, all but $671,576.25 represents shares of common stock already subscribed for.\u201d This means that Palantir has already secured commitments for the remaining part of the $961 million raise, although the offering has not closed.<\/span><\/p>\n

Palantir declined to comment on the filing, except to note that this is related to primary investments, not secondary stakes.<\/p>\n

It\u2019s not clear if this latest fundraise, as spelled out by the Form D, spells a delay to a public listing, or if the intention is to complement it.\u00a0<\/span><\/p>\n

The filing also appears to confirm a report from\u00a0September 2019<\/a>\u00a0that Palantir was seeking to raise between $1 billion and $3 billion, its first fundraising in four years.<\/p>\n

That report noted Palantir was targeting a $26 billion valuation, up from $20 billion four years ago. The Reuters article in June\u00a0put its valuation based on secondary market trades at between $10 billion and $14 billion.<\/p>\n

To date, Palantir has raised at least $3.3 billion in funding, according to PitchBook<\/a>, which names no fewer than 108 investors on its cap table.<\/p>\n

The PitchBook data (some of which is behind a paywall) also indicates that Palantir has raised a number of previous rounds of undisclosed amounts.<\/p>\n

Palantir was last valued at $20 billion when it raised money four years ago, but there are some data points that point to a bigger valuation today.<\/p>\n

While the coronavirus pandemic has all but halted the IPO market, we are starting to see some movement again, and Palantir\u2019s own business activity points to what might be a strong candidate to usher in more activity.<\/span><\/p>\n

In April, according to a Bloomberg report<\/a>, the company briefed investors with documents showing that it expects to make $1 billion in revenues this year, up 38% on 2019, and breaking even in the first time since being founded 16 years ago by Peter Thiel, Nathan Gettings, Joe Lonsdale, Stephen Cohen and current CEO Alex Karp.<\/p>\n

(The Bloomberg report didn\u2019t explain why<\/em>\u00a0Palantir was briefing investors, whether for a potential public listing, or for the fundraise we\u2019re reporting on here, or something else.)<\/p>\n

On top of that, the company has been in the news a lot around the global novel coronavirus pandemic.<\/p>\n

Specifically, it\u2019s been winning business, in the form of projects in major markets like the U.K. (where it\u2019s part of a consortium of companies working with the NHS<\/a> on a COVID-19 data trove) and the U.S. (where it\u2019s been working on a COVID-19 tracker<\/a> for the federal government and a project with the CDC<\/a>), and possibly others<\/a>. Those projects will presumably need a lot of upfront capital to set up and run, alongside other business deals that Palantir has been securing \u2014 possibly one reason it is raising money now.<\/p>\n

Updated throughout, including with response from Palantir.<\/em><\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/BPVTcta-RP0\/<\/p>","protected":false},"excerpt":{"rendered":"

Palantir, the sometimes controversial, but always secretive, big data and analytics provider that works with governments and other public and private organizations to power national security, health and a variety <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-19524","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t