Palantir is raising $500 million in funding - Fortune

July 23, 2015, 7:09 PM EDTShare icons

Data analytics specialist Palantir has so far raised $450 million out of a $500 million funding round, according to a regulatory filing Thursday, in a funding round that is said to have valued the company at $20 billion, the Wall Street Journal said.

The Palo Alto, Calif. company is known for providing data crunching technology to the federal government including the Defense and Homeland Security Departments. It also counts the Hershey Company HSY and JPMorgan JPM among its stable of non-government customers.

According to the company filings, Morgan Stanley & Co and SF Sentry Securities brokered the deal. It’s unclear who were the parties leading the new funding round.

Palantir raised $500 million in funding last year at a valuation of $15 billion, according to the Wall Street Journal.

Earlier this month, Palantir and Hershey launched a group for companies in the consumer-packaged goods industry to exchange data and learn about possible trends in the industry that could impact their business.

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