In-Q-Tel-backed Palantir Technologies Valued in the “Billions”
Palantir Technologies, funded initially by the CIA’s venture arm In-Q-Tel, is among 472 privately held technology companies enjoying a valuation of over $100 million each, according to a report by CB Insights.
The New York-based research group said “companies in the pipeline cover a wide spectrum of valuations with some just entering nine-figure valuation territory through to firms valued in the billions (for example, Palantir, SurveyMonkey, Coupons.com).”
Founded in 2004 by PayPal founder Peter Thiel and some computer scientists from Stanford University, Palantir is headquartered in Palo Alto, Calif., with offices in McLean, Va., Columbia, Md., and New York. It is led by CEO Alex Karp.
Palantir makes software to analyze a variety of data. It claims to radically change how groups analyze information. It also runs the site AnalyzeThe.US, which allows the public to use the company’s product, Palantir Gotham, to analyze publicly available data from several government sites including data.gov, usaspending.gov, the Center for Responsive Politics’ Open Secrets Database, and Community Health Data from HHS.gov, according to Wikipedia.
CB Insights identified 472 venture capital- and private equity-backed technology companies in the U.S. with “valuations, real or rumored, of greater than $100 million.”
Of the 472 firms, nearly 50% are headquartered in California. New York, which recently overtook Massachusetts as the No. 2 destination for venture funding, had 41 companies on the list. Massachusetts had 40.
Texas and Washington state made up the top five. Florida was sixth with 16 companies, one more than Washington.
The report is titled, “Tech IPO Pipeline,” and sold for $6,800.