Big data company Palantir has raised another $129 million in funding

Palantir Technologies, the data analytics company that helped track down Osama Bin Laden, has raised $129 million (£85 million), valuing the company the company at over $20 billion (£13 billion), according to TechCrunch.

The company, founded by Peter Theil and Alex Karp among others, has previously raised $555 million (£365 million), putting the current total at around $680 million (£448 million).

Palantir specialises in the analysis of big data and its clients, according to a leaked document, include governments, banks, and legal research firms. The company keeps a low profile, however, preferring to work behind the curtain.

The name comes from "Lord of the Rings" and describes a spherical, mystical Palantír used by Saruman to "see from afar." The name was chosen by Peter Theil, who is a fan of the books.