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Palantir Technologies is seeking $961 million, according to an SEC filing, just weeks after it was reported that the data analytics company was planning to file confidentially for an IPO. Palantir started fundraising in April and has so far received just under $550 million of its goal; Reuters reported in June that Japanese corporations Sompo and Fujitsu were investing $500 million and $50 million, respectively.
It is unclear how much Palantir will be worth with the funding, but reports emerged last September that the business was looking to raise between $1 billion and $3 billion with a valuation ranging from $26 billion and $30 billion. Palantir was valued at $20.3 billion in 2016, according to PitchBook data.
The SEC filing—the company’s first in four years—raises questions about how Palantir may proceed with its plans to go public. Bloomberg reported in early June that the company was aiming to file confidentially with US regulators in the subsequent weeks and could start trading this fall.
Launched in 2004 by founders including Peter Thiel, Palantir is known for its secretive nature and reported involvement in highly sensitive projects, counting the CIA and Department of Defense among its clients. During the pandemic, the company’s tracking software has been used by the Centers for Disease Control and Prevention, as well as the UK’s National Health Service, in their responses to the coronavirus crisis, including tracing the spread of the disease.
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