PALO ALTO (CBS SF) – Palantir Technologies is quickly rising up the ranks after disclosing that it raised $450-million in its latest fundraising round, which – according to the Wall Street Journal – gives the 11-year-old Palo Alto firm a private market valuation of $20-billion, putting it an elite club of so-called unicorns, including Uber, Snapchat, AirBnB and Chinese smartphone maker Xiaomi.

Palantir’s data-mining software is used by government agencies such as the CIA and FBI to sort through massive amounts of information and connect the dots.

The Journal says Palantir’s software was used to track down Osama Bin Laden.

Commercial industries are also high on Palantir, including firms in banking, insurance and retail.

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