Key facts
- Snorkel AI raised $350 million in a Series E funding round led by Insight Partners and S32.
- The company's valuation increased to $3.5 billion, nearly tripling from its previous $1.3 billion valuation.
- Snorkel AI's annualized revenue run-rate stands at $375 million, an 18-fold increase over the last 12 months.
- The company shifted from software for data labeling automation to providing completed datasets and reinforcement-learning environments.
- Snorkel AI uses a hybrid approach combining its software and models with subject matter experts to generate and vet data.
- The company works with AI labs, hyperscalers, enterprises, and the US federal government.
Snorkel AI, a startup focused on building training data sets and simulated environments for AI, has secured $350 million in a Series E funding round, achieving a valuation of $3.5 billion. The round was led by Insight Partners and S32, with participation from existing investors including Addition, Lightspeed, Greylock, GV, and Wells Fargo.
The new valuation nearly triples the company's previous valuation of $1.3 billion from 17 months ago. Snorkel AI reported an annualized revenue run-rate of $375 million, an 18-fold increase over the past year, driven by high demand from AI labs for sophisticated training data.
Founded in 2019 by researchers from Stanford University, Snorkel AI initially offered software for data labeling automation. It has since pivoted to a data-as-a-service model, providing completed datasets and reinforcement learning environments. The company utilizes a hybrid approach, combining its proprietary software and models with subject matter experts to generate and validate data. Snorkel AI serves frontier AI labs, hyperscalers, enterprises, and the U.S. federal government.