Matthew Staver/Bloomberg NewsAlexander Karp, chief executive and co-founder of Palantir.
Palantir doesn’t attract the same attention as its social media peers in Silicon Valley.
Nestled in the heart of downtown Palo Alto, Calif. the analytics technology company employs hundreds of engineers, but it maintains a low profile, relative to other residents like Facebook. Still, investors are paying attention.
The company recently raised $50 million, according to a filing submitted on Thursday. The latest round values the company at $2.5 billion to $3 billion, according to a person close to company who was not authorized to speak publicly. The investors include Tiger Global Management, the venture capital firm Founder’s Fund and others, the person said.
Palantir — started by its chief executive, Alexander C. Karp, and Peter Thiel, a co-founder of PayPal — helps clients, like the government and financial institutions, analyze complex data sets with its technology. The bulk of its business, about 70 percent, comes from the government, which has has used Palantir’s analytics platform to track stimulus spending and fight terrorism and cyber espionage. Mr. Thiel is also a partner in the Founder’s Fund, one of Palantir’s investors.
The company’s value is climbing fast. Last June, Palantir raised $90 million at a $735 million valuation. The round was led by Mr. Thiel; Youniversity Ventures; Glynn Capital; Jeremy Stoppelman, the chief executive of Yelp; and other New York-based investors.
Fortune earlier reported details of the round.
An earlier version of this post misspelled the name of the chief executive of Yelp. It is Jeremy Stoppelman, not Stoppleman.