Snorkel AI raises $350 million in funding, reaches $3.5B valuation
Business
Snorkel AI, a startup making waves with its data solutions, has landed $350 million in fresh funding, boosting its valuation to a hefty $3.5 billion.
The round was led by Insight Partners and S32, with support from familiar names like Addition, Greylock, and Wells Fargo.
Data-as-a-service lifts run-rate above $350 million
Snorkel's big revenue jump comes from its shift to "data-as-a-service" last year: annualized revenue run-rate has crossed $350 million.
With this new cash, it's planning to hire more people and ramp up services for enterprise and government clients.
Founded by Stanford researchers in 2019, Snorkel is all about smarter data: its platform mixes expert know-how with AI to build high-quality datasets for top tech labs and the US government.