Snorkel AI Raises $350M at $3.5B Valuation

Snorkel AI, an AI training data provider founded in 2019 by Stanford researchers, has raised $350 million in a Series E round led by Insight and S32, valuing the company at $3.5 billion. Backers include Alphabet's GV fund among others. The company recently pivoted from selling data-creation software to offering ready-to-use training datasets, expanding into reinforcement learning. It now reports an annualized revenue run rate of $375 million, an 18x increase since launching its data-as-a-service model. Funds will support hiring, AI safety initiatives, and open-source model evaluation benchmarks.