Snorkel AI Raises $135M in Series D
Snorkel AI has successfully raised $135M in a Series D at a $1B valuation led by Lightspeed Venture Partners.
Company Overview
Snorkel AI is a AI/ML company headquartered in Palo Alto, CA, founded in 2019 with 200+ employees.
Data-centric AI platform
Fundraising Details
- Amount Raised: $135M
- Round Type: Series D
- Valuation: $1B
- Date: 2024-05-30
- Investors: Lightspeed Venture Partners
About Snorkel AI
Data-centric AI platform The company is positioned in the AI/ML sector, serving a growing market with innovative solutions.
Key Information
- Headquarters: Palo Alto, CA
- Founded: 2019
- Team Size: 200+
- Industry: AI/ML
What This Means
This funding round demonstrates strong investor confidence in Snorkel AI's vision and execution. The capital will likely be used to:
- Scale Operations: Expand the team and operational capacity
- Product Development: Enhance existing products and develop new features
- Market Expansion: Enter new markets and strengthen presence in existing ones
- Technology Investment: Invest in infrastructure and technology capabilities
Industry Context
The AI/ML sector continues to attract significant investment as companies innovate to meet evolving market demands. Snorkel AI's successful fundraising reflects the strong fundamentals and growth potential in this space.
Valuation Milestone
Reaching a $1B valuation marks an important milestone for Snorkel AI, positioning the company among notable players in the AI/ML industry.
Looking Ahead
With this new capital, Snorkel AI is well-positioned to execute on its growth strategy and continue building innovative solutions in the AI/ML space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.
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This fundraising news was reported on 2024-05-30. For more information about Snorkel AI, visit their headquarters at Palo Alto, CA.
