Palantir Technologies lands $500 million

According to Crunchbase, Palo Alto-based Palantir Technologies has picked up $500 million from SOMPO Holdings. The data company has raised $2.5 billion to date and is planning to go public and record $1 billion in revenue this year.

Founded in 2004, Palantir’s software platforms, Gotham and Foundry, are deployed for mission-critical applications across every major vertical market. Customers around the world, including government institutions and major commercial organizations, use these platforms to digitally transform their operations. Use cases range from risk countermeasures (e.g., cybersecurity, fraud monitoring, anti-money laundering, and more) to operational efficiency (e.g., mission planning, healthcare research and development, shipping optimization, and more).

Last year, the company joined forces with SOMPO Holdings to form Palantir Technologies Japan, a $150 million, 50-50 joint venture to promote the “security, health and wellbeing of Japanese organizations and society.”