Snorkel AI raises $350 million at a $3.5 billion valuation

On September 22, Reuters reported that Snorkel AI raised $350 million at a $3.5 billion valuation in a round led by Insight Partners and S32. The company said annualized revenue had risen above $350 million from $20 million a year earlier and described a data-as-a-service model that uses legal, medical and coding experts to produce complex training data; those operating figures are company-supplied. For legal-tech builders, the financing validates expert-generated and governed data as a distinct infrastructure layer rather than a commodity input. It also raises the competitive bar for vendors whose differentiation depends only on model access, while increasing the value of demonstrable domain-data rights, quality controls and expert operations.