The Big Data and analytics company that supports the HHS data program to track COVID-19 is raising nearly $1 billion, according to an SEC filing.
Palo Alto, Calif.-based Palantir filed a Form D that notes it is raising $961 million and has already raised $549 million. Almost all of the remaining value is represented in shares of common stock that is already subscribed for. The report also notes that the company has a $26 billion valuation.
The company, founded in 2004 by Peter Thiel, has raised about $2.75 billion in venture capital, according to Business Insider, and said it plans to go public in the near future. The company also has contracts with the U.S. Immigration and Customs Enforcement agency as well as the U.S. military and national security agencies.
On June 30, several lawmakers sent a letter to HHS Secretary Alex Azar asking for more transparency in the way HHS is gathering and reporting COVID-19 data, and whether it is being shared with U.S. Immigration and Customs Enforcement, according to a report in The Washington Post. The letter cites the HHS relationship with Palantir as a cause for concern, although a spokeswoman for the agency said that HHS doesn't provide data to ICE, and the data doesn't include personally identifiable information.
The company's reach goes far beyond the U.S. In June, Palatir partnered with Japanese company SOMPO to launch a real data platform for security, health and well-being; at the time, SOMPO also invested $500 million in Palantir.
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