(Reuters) – Silicon Valley data-analysis firm Palantir Technologies, Inc., has formed a joint venture with a Japanese insurance holding company, Sompo Holdings, Inc., in the first instance, will focus on health it and cybersecurity, customers, Palantir said.
The joint-venture company, owned 50-50 by the Palantir, and Sompo, it will be in the service of the Japanese government as well as business and customers, according to the privately-held company, which was co-founded by the renowned investor, Peter Thiel.
Palantir clients range from global banks to the U.S. government, and the Central Intelligence Agency (CIA), and it is specialized in the calculation and the analysis of large amounts of data.
The company’s technology assisted in the government of the u.s. the successful search for Osama bin laden, according to multiple media reports.
Palantir has raised about $2.75 billion from investors to date, according to data provider PitchBook. Founded in 2004, Palantir now has 2,500 employees, according to the company.
Reporting by Jane Lanhee Lee in San Francisco, Editing by Rosalba O’brien