Palantir Introduces Second Cohort of "Foundry for Builders" Start-Ups
Palantir Technologies Inc. (NYSE:PLTR) announced today it has selected ten additional companies to join its Foundry for Builders initiative, launched in July to support 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 to early-stage companies who can fully leverage the end-to-end platform at rapid speed. This next cohort also includes Palantir's first customers in the blockchain and digital health industries.
The Palantir Foundry platform transforms the way organizations run by creating a central operating system for their data that 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 licenses Foundry to start-ups under a subscription model. The first companies to benefit were connected to Palantir alumni, and Foundry for Builders now includes other early-stage companies. The second cohort of Foundry for Builders companies includes the following:
Palantir Foundry is offered as fully managed SaaS (News - Alert) 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 analyze data across siloed technologies.
"The Palantir Foundry platform provides us the ability to aggregate and continuously analyze thousands of previously disconnected data sets, giving us an unprecedented understanding of the construction supply chain. With these powerful tools, our team is focusing on turning integrated data into actionable intelligence for our industry," said Libo Li, the CTO of KatalystDI.
"We're excited to access technology previously reserved for the most established and leading organizations," said European Cricket Network CEO and Founder Daniel Weston, who is using data to grow his digital media company. "We can use Palantir Foundry to ask the right questions of the data, with the best interface and integration tools combined, all in the one place."
In another application of Foundry at an early-stage company, the software will be used by VayuAI, which increases wind farm capacity and production by applying machine learning and physics-based algorithms against massive unstructured wind data. Palantir Foundry will enable VayuAI to provide its customers with data simulations to support the expansion of windfarm output.
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 deploy AI models to space, strengthen telecommunication network reliability, reduce errors in manufacturing, improve the safety of vehicles, and more.
"We're excited to expand the use of Palantir Foundry to yet another group of hypergrowth startups. These organizations have ambitious goals and timelines - they see building on Foundry as infrastructure as the cheapest and fastest way to market," said Palantir COO Shyam (News - Alert) Sankar. "It takes too long and is too risky to manually build solutions from a bag of cloud services. Foundry's software defined data integration and no-code applications mean customers can onboard new customers and develop new apps at a speed and cost that was previously inconceivable."
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, more details about Foundry for Builders can be found at https://www.palantir.com/offerings/foundry-for-builders/.
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.
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