November 18, 2019 / 4:35 AM / 8 months ago

Peter Thiel's Palantir launches Japanese joint venture with insurer Sompo

Nov 18 (Reuters) - Silicon Valley data analytics company Palantir Technologies Inc has established a joint venture with Japanese insurance holding company Sompo Holdings Inc that initially will focus on health and cybersecurity clients, Palantir said.

The joint venture, owned 50-50 by Palantir and Sompo, will service Japanese government as well as commercial clients, according to the privately-held company, which was co-founded by well known investor Peter Thiel.

Palantir customers range from global banks to the U.S. government and the Central Intelligence Agency (CIA), and it specializes in crunching and analyzing large quantities of data.

The company's technology aided the U.S. government's successful search for Osama bin Laden, according to multiple media reports.

Palantir has raised roughly $2.75 billion from investors to date, according to data provider PitchBook. Founded in 2004, Palantir currently has 2,500 employees, according to the company. (Reporting by Jane Lanhee Lee in San Francisco, Editing by Rosalba O'Brien)

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