Snorkel AI raises $350 million at $3.5 billion valuation as demand for AI training data surges
Snorkel AI, a startup specializing in building AI training datasets and simulated environments, has raised $350 million in a Series E funding round led by Insight Partners and S32. The investment values the company at $3.5 billion—nearly triple its valuation from 17 months ago. Existing investors such as Addition, Lightspeed, Greylock, GV, and Wells Fargo also participated. Snorkel has shifted focus in recent years to offering data-as-a-service rather than just software for automation. The company now generates synthetic datasets using a hybrid approach that combines its models with expert input. Snorkel reported an annualized revenue run-rate of $375 million, representing an 18-fold increase over the past year. The surge in demand is driven by AI labs' growing need for high-quality training data. Other firms like Mercor and Handshake have also experienced significant growth in this space.
Topics: AI Data Labeling Funding Rounds Startups