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Technology

Palantir launches $100m Asian venture with Japan's Sompo

Peter Thiel says big data company will stay private 'as long as possible'

Peter Thiel, co-founder of data analytics company Palantir Technologies, will launch a joint venture with Sompo Holdings that will pitch Palantir software to corporate and government clients in Japan. (Photo by Kotaro Igarashi)

TOKYO -- Palantir Technologies, the U.S. big data analytics company backed by billionaire investor Peter Thiel, on Monday said it will launch a $100 million joint venture with Japanese insurer Sompo Holdings and enter the Japanese market in its first major Asian initiative.

The 50-50 joint venture, Palantir Technologies Japan, will aim to sell Palantir's analytics software to big companies and government agencies. It will be headed by Sompo chief digital officer Koichi Narasaki and Palantir CEO Alex Karp. It will begin operations on Dec. 1 and is aiming for revenue of $1 billion.

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