Snorkel AI triples valuation to $3.5B as demand for AI training data booms
techcrunch ·
Snorkel AI has secured a $350 million Series E funding round, raising its valuation to $3.5 billion. This marks a significant increase from the $1.3 billion valuation achieved during its Series D round 17 months ago. The investment was led by Insight Partners and S32, with participation from existing backers such as Lightspeed and GV. Snorkel’s annualized revenue run-rate has surged to $375 million, reflecting an 18-fold growth over the past year. The company shifted its business model from data labeling automation to providing complete datasets through a hybrid approach combining synthetic generation and human expertise. Unlike competitors that report gross revenue including payouts to specialists, Snorkel accounts for expert payments within its cost of goods sold. Founded in 2019 following research at Stanford, Snorkel continues to capitalize on the high demand for quality AI training data.
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