Poptip was set up in 2012 by design student Kelsey Falter. It uses a text analysis algorithm to study conversations taking place on social media networks, as well as providing capabilities for conducting social media surveys.

In an announcement on the company’s blog, Falter states that the company’s acquisition by Palantir will give the company “room to innovate and grow”.

“The ethos of our companies are highly aligned,” said Falter. “Just as Poptip set out to transform the ways that companies use social conversation data, so too Palantir started with the intention to transform the way organisations use all of their data.”

The terms of the deal have not been disclosed.