Snorkel AI Raises $350 Million at $3.5 Billion Valuation as Revenue Run Rate Hits $375 Million
Updated
Updated · TechCrunch · Sep 22
Snorkel AI Raises $350 Million at $3.5 Billion Valuation as Revenue Run Rate Hits $375 Million
3 articles · Updated · TechCrunch · Sep 22
Summary
$350 million in Series E funding valued Snorkel AI at $3.5 billion, nearly tripling the $1.3 billion valuation it reached 17 months ago.
$375 million in annualized revenue run rate — up 18-fold in 12 months — reflects surging demand from AI labs for high-end training data and reinforcement-learning environments.
Snorkel has shifted from data-labeling automation to a data-as-a-service model, using software and synthetic data generation alongside subject-matter experts to deliver complete datasets.
Insight Partners and S32 led the round, with Addition, Lightspeed, Greylock, GV and Wells Fargo also participating.
The deal underscores a broader boom in AI data suppliers, though Snorkel says its revenue differs from labor-marketplace peers because expert payments sit in cost of goods sold.