Snorkel AI raises $350M Series E at $3.5B valuation, led by Insight Partners and S32

Snorkel AI, a company that builds AI training data sets and simulated environments, closed a $350 million Series E at a $3.5 billion valuation, nearly triple its $1.3 billion valuation from 17 months earlier. The round included existing backers Addition, Lightspeed, Greylock, GV, and Wells Fargo, alongside new leads Insight Partners and S32. Snorkel reports an annualized revenue run-rate of $375 million, up 18-fold over the past year.