DENVER, July 19, 2021 –(BUSINESS WIRE)–Palantir Technologies Inc. (NYSE:PLTR) announced today the launch of Foundry for Builders, an initiative dedicated to supporting early-stage companies by providing them with the Palantir Foundry platform, helping support their growth. For Palantir, Foundry for Builders marks a continued expansion of its business beyond large organizations with complex data environments to younger companies.
The Palantir Foundry platform transforms the way organizations operate by creating a central operating system for their data, and it is designed to scale with increasing complexity, meaning it will be able to support these companies as they grow while powering data-driven decision making from the outset.
Under Foundry for Builders, Palantir will sell Foundry to start-ups under a subscription model, first to companies connected to Palantir alumni, before expanding the initiative to other early stage companies. The first group of companies are start-ups in varied sectors, ranging from healthcare to robotics, to software and fintech. They are:
A fintech company based in Oslo, Norway, that aims to simplify B2B transactions by offering a buy now, pay later alternative
The companies in the first Foundry for Builders cohort are using the platform to establish an internal operating system for their data in order to spend more time accelerating their unique value proposition and less on attempting to piece together all of the necessary components.
Palantir Foundry is offered as fully managed SaaS and provides an end-to-end platform that spans from cloud hosting and data integration to flexible analytics, visualization, model-building, operational decision-making, and decision capture. Having these capabilities as part of a single platform eliminates friction and protects against the loss of data history, security, and privacy as users move across siloed technologies.
“As we searched for platforms to power our first application, Mustr, Palantir Foundry was a no brainer. It gives us 360-degree visibility into our customers from lead generation to product feedback and allows us to plug and play our mobile capabilities directly into enterprise data systems all over the government and commercial sector,” said James Boyd, CEO and co-founder of Adyton.
“Our global network of robots, and the critical industries they serve, have created a data asset unlike anything in the world. Gecko is betting on Foundry to be a force multiplier, helping us scale our operations and accelerate our ability to help our customers get from data to value,” said Rick Ducott, Palantir alumnus and Gecko’s director of engineering.
In another application of Foundry, Palantir alumnus Cobi Blumenfeld-Gantz, CEO and co-founder of Chapter, will be applying Palantir Foundry to the fragmented, opaque market of healthcare by integrating data across all Medicare plans and making recommendations on optimal coverage.
Palantir Foundry offers out-of-the-box security and compliance features which allow companies, including these start-ups, to work with sensitive data in accredited environments. The platform is currently being used in over 40 industries and sectors worldwide to accelerate the drug discovery process, reduce errors in manufacturing, optimize supply chains around the globe, and more.
“We’re excited to expand the use of Palantir Foundry to hypergrowth startups. These organizations have ambitious goals and are building their digital infrastructure around Palantir Foundry from Day 0. These companies don’t suffer from ‘not invented here’ pathologies and clearly see how building their SaaS offerings on top of Foundry could help shave years and millions of dollars off their time to market,” said Palantir COO Shyam Sankar.
About Palantir Technologies
Palantir Technologies is a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments. From building safer cars and planes, to discovering new drugs and combating terrorism, Palantir helps customers across the public, private, and nonprofit sectors transform the way they use their data. Additional information is available at https://www.palantir.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the terms and benefits of this initiative and related contracts and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
SOURCE: Palantir Technologies