Huge Funding Injection for Big Data Firm Palantir

US big data firm Palantir, whose clients include government agencies such as the CIA and FBI, has raised a whopping $880m in funding, in a round which values it at around $20bn.

The latest round included Morgan Stanley and San Francisco Sentry, according to a regulatory filing in December. According to reports, the round makes Palantir the fourth most valuable pre-IPO firm after Airbnb, Uber and Xiaomi. Although it is known as a supplier to government, Palantir's annual revenue of $1bn plus comes from both private and public sectors, with the former providing the majority - healthcare, insurance and finance are key markets.

The firm was founded in 2004, has now raised a total of $2.32bn in total and is said not to favour an IPO in the near future. Its acquisitions include New York-based social media polling start-up Poptip, just under eighteen months ago.

Based in Palo Alto, CA and with more than 2,000 employees, the company is online at www.palantir.com .