Snorkel AI, a US-based startup that helps AI labs and companies build training datasets and simulated environments, has raised US$350 million in a series E led by Insight Partners and S32 at a US$3.5 billion valuation.

The round came 17 months after Snorkel AI’s series D, when it raised US$100 million at a US$1.3 billion valuation. Existing investors, including Addition, Lightspeed, Greylock, GV, and Wells Fargo, also joined the new round.

The company said its annualized revenue run rate reached US$375 million.

Snorkel launched commercially in 2019 after four years of research by co-founder and CEO Alex Ratner and his team in a Stanford AI lab.

The company has shifted from data-labeling automation software toward completed datasets, which it calls data-as-a-service, and reinforcement learning environments built through a mix of synthetic data, software, and human experts.

🔗 Source: TechCrunch

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