Japanese insurer Sompo to invest $500m in data analytics firm Palantir

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Palantir Technologies Inc on Thursday said that Japanese insurance holding company Sompo Holdings Inc is investing $500 million in the Silicon Valley data analytics company, whose clients range from global banks to the U.S. government and the Central Intelligence Agency.

The large investment from Sompo comes as Palantir has seen an uptick in demand for its products that help companies and governments manage the COVID-19 pandemic with data. The company declined to talk about Palantir’s latest valuation or its plans to go public.

Reuters reported last week that Palantir is aiming to file confidentially with U.S. regulators for an initial public offering in the coming weeks, citing sources.

Palantir was valued at around $20 billion in its last fundraising round in 2015. In the private market, its shares have been trading in recent weeks at a valuation of between $10 billion and $14 billion, according to market sources.

Late last year, Palantir also launched a 50-50 joint venture with Sompo called Palantir Technologies Japan K.K. to service the Japanese government as well as commercial clients. And earlier this month another Japanese tech company, Fujitsu Limited, invested $50 million into Palantir in the United States. Both Sompo and Fujitsu are also customers of Palantir.

Co-founded in 2004 by billionaire and well-known tech investor Peter Thiel, the data analytics company has been involved in some of the U.S. government’s most politically sensitive projects, from identifying terrorists to the tracking of illegal immigrants. The company’s technology aided the U.S. government’s successful search for Osama bin Laden, according to multiple media reports.

Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.