Palantir Granted FedRAMP High Baseline Authorization

Rhea-AI Summary

Palantir Technologies (NASDAQ: PLTR) has achieved FedRAMP High Authorization for its Federal Cloud Service (PFCS) and Federal Cloud Service - Supporting Services (PFCS-SS). This authorization covers all Palantir's products including AIP, Apollo, Foundry, Gotham, FedStart, and Mission Manager, enabling the company to provide its complete product suite to the U.S. Government at the highest unclassified security level. This builds upon Palantir's existing FedRAMP Moderate and DoD IL5 and IL6 authorizations, allowing the processing of highly sensitive unclassified government workloads in Palantir's cloud environment.

Positive

• Achieved highest level FedRAMP authorization for entire product suite
• Enhanced ability to process sensitive government workloads
• Expanded capability to serve U.S. government agencies across civilian, defense, and intelligence sectors
• Potential for increased government contracts and partnerships

Negative

• None.

Insights

Technology Security Analyst

This FedRAMP High authorization represents a significant competitive advantage for Palantir in the federal market. The certification allows PLTR to process highly sensitive unclassified government data and positions the company as a premier provider for critical federal AI and data projects. The authorization covers their entire product suite, including the strategic AIP platform, creating a comprehensive secure environment for government operations.

The PFCS-SS extension is particularly noteworthy as it enables Palantir to act as a secure platform for third-party software integration, potentially creating a new revenue stream by becoming a gatekeeper for other tech companies seeking to serve federal clients. This infrastructure position could lead to increased contract values and stronger client retention through deeper system integration.

Government Contracts Specialist

The FedRAMP High certification significantly expands Palantir's addressable market within the federal sector. This authorization removes major barriers to entry for sensitive government contracts and positions PLTR to capture larger portions of agency IT modernization budgets. The ability to handle highly sensitive unclassified data will likely accelerate procurement cycles and reduce compliance-related obstacles in contract negotiations.

The certification's coverage of their AI Platform (AIP) is particularly timely given the government's increasing focus on AI adoption. This positions Palantir to capitalize on the growing federal AI spending, which is expected to see substantial growth in coming years.

DENVER--(BUSINESS WIRE)-- Palantir Technologies Inc. (NASDAQ: PLTR) today announced that it has been granted FedRAMP High Authorization for Palantir Federal Cloud Service (PFCS) and Palantir Federal Cloud Service - Supporting Services (PFCS-SS). These authorizations cover the entirety of Palantir’s product offerings and programs—including AIP, Apollo, Foundry, Gotham, FedStart, and Mission Manager—and therefore enable Palantir to provide any of its product offerings to the U.S. Government at the FedRAMP High baseline.

FedRAMP is a government-wide program that promotes the adoption of secure cloud services across the federal government by providing a standardized approach to security and risk assessment for cloud technologies and federal agencies. This High authorization builds on Palantir’s previous FedRAMP Moderate and DoD IL5 and IL6 authorizations, and enables the U.S. government to process the most sensitive unclassified workloads in Palantir’s cloud offering.

“We’re proud to have achieved the FedRAMP High milestone for our full product suite, including our award-winning AI Platform (AIP), which is transforming the speed, scale, and efficiency with which the US Government can operate across civilian, defense, and intelligence agencies. With the addition of the PFCS-SS FedRAMP High offering, Palantir is excited to accelerate our work with other technology partners—big and small, government or commercial—to enable their technology to be securely operated on behalf of USG missions,” said Akash Jain, CTO and President of Palantir USG. “This milestone is an affirmation of our ongoing commitment to upholding the highest security standards and being trusted to handle our government partners’ most sensitive data and workloads, as well as our commitment to enabling the entire American technology base to support critical government needs.”

Palantir Federal Cloud Service (PFCS) is a cloud-hosted offering developed for the purpose of delivering Palantir software, including AIP, Apollo, Foundry, Gotham, and supporting products, to federal government customers as a cloud service. PFCS allows customers to acquire Palantir in a matter of days to quickly deliver value against their hardest problems.

Palantir Federal Cloud Service - Supporting Services (PFCS-SS) is a cloud-hosted environment for the purpose of delivering best-of-breed commercial software to federal government customers as a secure cloud service at the FedRAMP High baseline. The software deployed to PFCS-SS is commercially available software configured to run on PFCS’ Kubernetes infrastructure and leverage PFCS’ management plane services.

Palantir enables organizations to take advantage of best-in-class Artificial Intelligence, Machine Learning, Data Integration, Data Storage, Data Processing, Analytics, Visualization, Operations, Cybersecurity, and Software Deployment capabilities.

About Palantir Technologies Inc.

Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241203054493/en/

Media Contact

Morgan Gress

media@palantir.com

Source: Palantir Technologies Inc.

FAQ

What FedRAMP authorization did Palantir (PLTR) receive in 2024?

Palantir received FedRAMP High Authorization for its Federal Cloud Service (PFCS) and Federal Cloud Service - Supporting Services (PFCS-SS), covering its entire product suite.

Which Palantir (PLTR) products are covered by the new FedRAMP High Authorization?

The authorization covers AIP, Apollo, Foundry, Gotham, FedStart, and Mission Manager products.

What security levels does Palantir (PLTR) now hold for government services?

Palantir now holds FedRAMP High, FedRAMP Moderate, and DoD IL5 and IL6 authorizations for government services.