Palantir (PLTR) Launches 'Foundry for Builders' to Support Growth of Startups
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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:
- Chapter, a New York-based company that helps customers understand and select Medicare plans
- Hence AI, based in London, which uses AI to help companies make better relationship decisions in the legal and consulting industries
- Adyton, a Scottsdale-based builder of mobile software that links users in the field with enterprise systems
- A fintech company based in Oslo, Norway, that aims to simplify B2B transactions by offering a buy now, pay later alternative
- Gecko Robotics, a Pittsburgh-based maker of robots used for industrial inspections
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.
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