Snorkel AI raises $350m Series E at $3.5bn valuation
Insight Partners and S32 co-led the round as Snorkel expands its AI data business.
Snorkel AI has raised $350 million in Series E financing, co-led by Insight Partners and S32. Addition joined the round alongside new backers including March Capital, Blumberg Capital and Third Point Ventures.
The company is expanding from data-labeling software into finished training datasets and simulated environments for AI developers. It combines specialist human input with its own AI tools to build and evaluate data for more complex tasks.
CEO Alex Ratner said its annualized revenue run rate had reached $375 million following the launch of its data-as-a-service offering nearly a year earlier.
Use of funds
Expand AI training data and environment development
Support open benchmarks and evaluation