Palantir, the big data company that’s one of the Valley’s most valuable, having secured clients like the NSA, FBI and CIA early on before building up its private-sector customer base, has raised another $50 million, according to a new SEC filing. The round is still ongoing, however, and may total $400 million when complete.
In early November, a Palantir filing emerged that indicated it would be paying around $10 million in sales commissions, which led Dan Primack at Fortune to estimate that Palantir could raise between $222 million and $500 million, based on standard commissions and those previously paid.
However, new documents unearthed by VC Experts, which were filed in late November, show Palantir authorizing $400 million of a new series of preferred stock. We asked VC Experts if the new Form D, which indicates the company has now raised $50 million, is likely part of this larger $400 million round, and they believe it is.
If the round completes, that will bring Palantir’s total raise to around $1.35 billion, according to data from CrunchBase which says the company has raised $950 million to date. (VC Experts doesn’t have the funding that high, we should note, but says there are a lot of outliers.)
Last December, Palantir was raising funding at what was then considered a hefty $9 billion valuation, and finally closed that round in September at $444.2 million, says CrunchBase.
Over the summer, Palantir spent some of its money on two acquisitions in a single week – one was for social polling and analytics startup Poptip, which was soon followed by Propeller, a startup offering tools for building native mobile apps. The news was especially interesting because the data analysis company had only ever made one other acquisition (at least, publicly) when it bought email startup and Y Combinator alum VoiceGem in early 2013.
It’s unclear what Palantir’s valuation will be if it closes on the $400 million because there are still too many outliers, VC Experts tells us. But they say the new round is priced higher than the previous one.
A number of Silicon Valley companies have raised at high valuations recently. For example, transportation and ride-sharing startup Uber announced this month it raised $1.2 billion in new funding, in a round that sees the company valued at a record $40 billion – or four times more other Silicon Valley startups like Airbnb, valued at $10 billion, or Dropbox.