Palantir raises $880m

SAN FRANCISCO: Secretive software company Palantir Technologies raised nearly $880 million in a new funding round, according to a regulatory filing available on Thursday. The investment round came with a valuation of approximately $20 billion, according to US media reports. The California company specialises in data analysis and counts among early investors an In-Q-Tel venture capital firm that focuses on ‘innovative technology solutions to support the missions of the Central Intelligence Agency and broader US Intelligence Community’. The privately held firm’s services are used for financial fraud investigations as well as in counterterrorism efforts.