The mysterious data mining technology provider Palantir – known for its hidden role of advising various global intelligence agencies and various multinationals – has just launched Palantir Foundry for Builders, an initiative designed for start-ups and SMEs.
One way for the software publisher to expand a customer base that is still quite limited in number. In the last quarter, Palantir had 149 clients, most of them large organizations or intelligence agencies, like the CIA or the NSA. In the first quarter, Palantir said it had entered into 15 contracts with a total value of $ 5 million or more, including six with a value of $ 10 million or more. Palantir Foundry for Builders is designed to support start-ups and scale them as they grow. The program includes the Palantir Foundry platform and support for building a data operating system, Palantir’s specialty.
The idea of the publisher’s new offering is that Palantir can offer an initial platform, and then grow with businesses. Note that Palantir Foundry for Builders is sold as a subscription, first for companies connected to Palantir alumni, then as an extension. Palantir Foundry for Builders’ first clients include start-ups Chapter, Hence AI, Adyton and Gecko Robotics. So many start-ups whose activity extends in the fields of health, law, financial technologies or robotics.
Reach a new audience
Among the new contracts won at the end of last year by the software publisher, are operations for the multinationals Rio Tinto, PG&E, BP, the American army, the FDA or the NHS, the British health service. As part of its dedicated offering for SMEs and start-ups, the company offers Palantir Foundry as a managed service that includes cloud hosting and data integration, as well as tools for analysis, creation of models and decision support.
As a reminder, Palantir mainly sells two software: Gotham, intended for governments and and intelligence agencies, and Foundry, intended for companies. Both are a mix of statistics and machine learning methods that “identify patterns hidden deep within datasets”. The company describes the two programs as a “central operating system for data”. Both programs run on an infrastructure software suite available in SaaS mode, which Palantir calls Apollo. Among the founders of Palantir is PayPal co-founder Peter Thiel.
While the company’s reputation has been forged on the basis of large government contracts, Palantir is now working to expand its corporate reach through partnerships, such as the one entered into in early 2021 with IBM. Palantir’s long-term outlook is to reach $ 4 billion in revenue by 2024.