Snorkel AI Raises $350M Series E at $3.5B Valuation as Demand for AI Training Data Surges
aiinsider ·
Snorkel AI has secured a $350 million Series E funding round, achieving a corporate valuation of $3.5 billion. This investment was led by Insight Partners and S32, with participation from existing backers such as Lightspeed, GV, and Wells Fargo. The new valuation represents a significant increase, nearly tripling the $1.3 billion figure reached during its Series D round just 17 months prior. Driven by surging demand for high-quality training data, the company’s annualized revenue run rate has jumped eighteenfold to $375 million over the past year. Snorkel has strategically shifted from providing data labeling software to offering completed datasets through a data-as-a-service model. By combining synthetic data generation with subject matter experts, the firm distinguishes itself from competitors who rely heavily on contractor payouts. Founded in 2019 after years of research at Stanford, the company continues to expand its offerings in reinforcement learning environments.
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