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 data sets 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 data sets, 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.
Snorkel says its current annualized revenue run-rate now stands at $375 million, an 18-fold increase over...
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