Snorkel AI triples valuation to $3.5B as demand for AI training data booms

Snorkel AI, a startup that helps AI labs and corporations build training datasets and simulated environments, has raised a $350 million Series E at a $3.5 billion valuation.

The new round, which was led by Insight Partners and S32, valued the seven-year-old startup at nearly triple the $1.3 billion valuation it garnered when it raised $100 million in a Series D 17 months ago. Existing investors, including Addition, Lightspeed, Greylock, GV, and Wells Fargo, also participated in the round.

While Snorkel originally provided software for data-labeling automation, it shifted last year to providing customers with completed datasets, an offering it calls data-as-a-service. Rather than operating purely as a human expert marketplace, Snorkel relies on a hybrid approach, using its software and models to generate data synthetically alongside subject matter experts.