Source: Palantir raised $350M at $20B valuation in recent weeks, round totals $880M

Palantir, a company that provides big data services for government agencies and private-sector customers, today disclosed in a regulatory filing that it has raised $879.8 million. A source familiar with the matter told VentureBeat that the company actually raised $200 million this week and $150 million in the past few weeks, at a $20 billion valuation, and that these are extensions to the funding round Palantir started raising back in July, at the same valuation.

Investors cited in today’s filing include Morgan Stanley and San Francisco Sentry.

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The company provides software that organizations can deploy to bring together multiple sources of data, which end users can then visualize and query. Around 2,000 people now work for Palantir, the source said. Competitors include IBM’s i2.

Palantir has long been known for doing business with intelligence agencies. Nowadays, about 60 percent of business is commercial, with the rest coming from government customers, the source told VentureBeat. Customers include the U.S. Department of Defense, the Department of Homeland Security, the Department of Justice, and the Securities and Exchange Commission. In the private sector, the company has previously done business with Intuit and JP Morgan Chase, among others.

Palantir started in 2004 and is based in Palo Alto, California. Acquisitions include Poptip and Propeller.