It’s been a long time since Palantir has been considered a startup, but the company is harkening back to its roots with a program that supports early-stage companies.
Palantir Technologies Inc. (NYSE:PLTR) announced the launch of Foundry for Builders this week, an initiative that aims to support early-stage companies by providing them with the Palantir Foundry software platform.
In addition to supporting startups, Foundry for Builders allows Palantir to tap into an area of business beyond the large organizations it typically works with.
The Foundry platform creates a central operating system for company data and is designed to scale as companies grow and have increasingly complex data. That is the exact targeted use case for the first cohort of companies in Palantir’s new program.
“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, in a statement.
Under Foundry for Builders, Palantir will sell Foundry to startups under a subscription model. The first group is comprised of companies connected to Palantir alumni, but it will be expanded to other early-stage companies.
The initial cohort features companies across varied sectors ranging from health care, robotics, software and fintech. Here are the companies, with descriptions provided by Palantir:
- Chapter: A New York-based company that helps customers understand and select Medicare plans.
- Hence AI: Based in London, uses AI to help companies make better relationship decisions in the legal and consulting industries.
- Adyton: A Scottsdale, Arizona-based builder of mobile software that links users in the field with enterprise systems.
- Gecko Robotics: A Pittsburgh-based maker of robots used for industrial inspections.
- An unnamed fintech company from Oslo, Norway, aims to simplify B2B transactions by offering a buy now, pay later alternative.
Palantir first announced its move to Denver in August and said it would hire up to 250 people in the Mile High City. While the company has been quietly settling in Denver, Palantir has announced hundreds of millions of dollars worth of government contracts.
