Total amount raised
$135.3 Million
Latest funding date
1/1/2024
Location
Snorkel AI has successfully navigated through 8 funding rounds, attracting investment from notable firms such as Accenture Ventures and Lightspeed Venture Partners. The company specializes in accelerating data labeling using machine learning, which significantly speeds up model training.
Keep reading to explore the intricacies of Snorkel AI's fundraising journey and the investors backing this innovative platform.
What Is Snorkel AI?
Snorkel AI, based in Redwood City, California, is a pioneering company in the field of AI data development and solutions. The company operates in various industries, including AI Infrastructure, Artificial Intelligence, Data Collection and Labeling, Enterprise Software, and Machine Learning.
Founded with the mission to accelerate data labeling through machine learning, Snorkel AI has grown to employ between 101 and 250 people. The company is known for its innovative approach to creating high-quality, domain-specific datasets and AI solutions, partnering with top AI and research teams to advance frontier AI and agentic systems.
How Much Funding Has Snorkel AI Raised?
- Seed Round
- Amount Raised: USD 3,250,000
- Date: July 2020
- Lead Investors: Google Ventures, Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their AI data labeling platform and establish a strong foundation for future growth.
- Series A
- Amount Raised: USD 12,000,000
- Date: July 2020
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate the development of their AI solutions.
- Series B
- Amount Raised: USD 35,000,000
- Date: April 2021
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their operations and enhance their AI platform capabilities.
- Series C
- Amount Raised: USD 85,000,000
- Date: August 2021
- Lead Investors: Addition, BlackRock
- Valuation at Round: USD 1 billion
- Motivation Behind the Round: To accelerate product development, scale the engineering and go-to-market teams, and drive further innovation.
- Series D
- Amount Raised: USD 100,000,000
- Date: May 2025
- Lead Investors: Addition
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and continue advancing their AI technologies.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: January 2024
- Lead Investors: QBE Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing research and development efforts.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: August 2025
- Lead Investors: Accenture Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance their AI capabilities and expand their customer base.
Total Amount Raised: USD 235,250,000. Current Valuation: USD 1 billion.
Key Investors
- Accenture Ventures
- Details: Accenture Ventures partners with and invests in growth-stage companies that create innovative enterprise technologies. They focus on bringing new technologies to market and scaling them globally.
- Investment Focus Areas: AI, cybersecurity, cloud computing
- Notable Investments: Snorkel AI
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a global venture capital firm focusing on early-stage investments in the enterprise and consumer sectors. They have a strong track record of backing successful startups.
- Investment Focus Areas: Enterprise software, consumer, healthcare
- Notable Investments: Snorkel AI, Snap, Affirm
- Addition
- Details: Addition is a venture capital firm founded by Lee Fixel, known for investing in transformative companies. They focus on supporting companies that drive significant change in their industries.
- Investment Focus Areas: AI, fintech, healthcare
- Notable Investments: Snorkel AI
- QBE Ventures
- Details: QBE Ventures is the venture capital arm of QBE Insurance Group, investing in startups that align with their strategic goals. They focus on technologies that can enhance their core business operations.
- Investment Focus Areas: Insurtech, AI, data analytics
- Notable Investments: Snorkel AI
- BlackRock
- Details: BlackRock is a global investment management corporation, known for its extensive portfolio and influence in the financial sector. They invest in companies that offer innovative solutions and have strong growth potential.
- Investment Focus Areas: AI, fintech, sustainable energy
- Notable Investments: Snorkel AI
What's Next for Snorkel AI?
Snorkel AI stands at the cusp of significant growth, driven by its data-centric AI platform, Snorkel Flow. The company aims to expand its reach by scaling its engineering and go-to-market teams, addressing the bottleneck of manual data labeling, and enabling rapid AI application development for enterprises globally. With a valuation of $1 billion, the potential market size is substantial, particularly given the platform's success with Fortune 50 companies and US government agencies.
Future fundraising opportunities appear promising, bolstered by the successful Series C round and the involvement of high-profile investors like BlackRock and Addition. Continued innovation and market expansion could attract further investment, enabling Snorkel AI to enhance its technology and customer success infrastructure. However, the company may face challenges such as competition from other AI platforms, ensuring scalability, and managing the quality of programmatically labeled data.
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