Snorkel AI hits $3.5B valuation after revenue surge

Snorkel AI has raised $350 million in a Series E round led by Insight Partners and S32, tripling its valuation to $3.5 billion from $1.3 billion just 17 months ago. The seven-year-old startup, which helps AI labs build training datasets, saw its annualized revenue run rate hit $375 million, an eighteenfold increase over the past year. Originally focused on data-labeling software, Snorkel shifted to a data-as-a-service model, delivering complete datasets using a hybrid of synthetic generation and human experts. The boom mirrors explosive growth across the AI training data sector, with rivals like Mercor and Handshake also reporting massive revenue milestones.