🤖Snorkel AI Valuation Skyrockets to $3.5B in Series E
Snorkel's Data-as-a-Service Model Just Got a $350M Boost
TL;DR
Snorkel AI, a data labeling automation startup, has raised a $350 million Series E at a $3.5 billion valuation. The company's shift to providing completed data sets, an offering it calls data-as-a-service, is driving explosive growth.
Snorkel AI has raised a $350 million Series E at a $3.5 billion valuation, nearly tripling its previous valuation of $1.3 billion. The startup, founded seven years ago, now offers data-as-a-service, providing high-end training data sets to AI labs. This model has fueled an 18-fold revenue increase over the last 12 months. Snorkel's hybrid approach uses software and models to generate data synthetically alongside human experts, with the company's current annualized revenue run-rate at $375 million. If you're in AI research, Snorkel's growth signals a major shift in how high-end training data is sourced and priced.
Key Points
Snorkel AI raised $350 million in Series E funding at a $3.5 billion valuation.
The startup's valuation tripled from $1.3 billion in its previous round 17 months ago.
Snorkel's current annualized revenue run-rate is $375 million, up 18-fold in a year.
The company now offers data-as-a-service, providing completed data sets to AI labs.
Snorkel's hybrid approach uses software and models to generate data synthetically.
Why It Matters
If you're in AI research, Snorkel's data-as-a-service model is a game-changer. The company's $375 million annualized revenue run-rate signals a major shift in how high-end training data is sourced and priced. AI labs are paying a premium for high-quality data sets, driving explosive growth for Snorkel and similar companies.
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