The 11-year-old company, which sells software to the U.S. government and Wall Street to mine large amounts of data, raised a total of $500 million last year, one of the people said.
Venture-capital firms previously valued Palantir at $9 billion in December 2013. The latest valuation, which the company didn’t previously disclose, makes Palantir the third most valuable company backed by venture capitalists in the world, below car-hailing service Uber and smartphone maker Xiaomi.