Snorkel AI raises $350 million at $3.5 billion valuation
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Snorkel AI has raised $350 million in fresh funding at a $3.5 billion valuation, CEO Alex Ratner told Reuters. The round was led by Insight Partners and S32, with participation from existing investors Addition, Greylock and Wells Fargo. The deal values the company at nearly three times its May 2025 valuation of $1.3 billion.
Key Facts
- Snorkel AI's annualized revenue run-rate has crossed $350 million, up from roughly $20 million a year earlier.
- The company was founded in 2019 by researchers from the Stanford AI lab.
- Snorkel AI launched its data-as-a-service business in September 2025.
- Meta purchased a 49% stake in Scale AI for $14.3 billion in June 2025.
Funding Round
The $350 million round was led by Insight Partners and S32. Existing investors Addition, Greylock and Wells Fargo also participated. The valuation of $3.5 billion is nearly three times the $1.3 billion valuation from May 2025. Snorkel AI last raised $100 million in May 2025.
Business Model Shift
Snorkel AI initially sold software but has shifted toward supplying finished datasets and reinforcement-learning environments directly to customers. The company launched its data-as-a-service business in September 2025. Snorkel AI now offers an 'agentic data development platform' that pairs human experts with thousands of specialized AI models and agents. The business taps a network of tens of thousands of specialists across fields such as coding, law and medicine.
Market Context
Venture funding continues to pour into startups supplying frontier AI labs with human-annotated training data. Meta purchased a 49% stake in Scale AI for $14.3 billion in June 2025. Rivals including Mercor and Surge AI have also attracted investor interest amid strong revenue growth. Coding data is one of Snorkel's biggest areas of demand.
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