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

Insight Partners and S32 led the round, with Addition, Greylock and Wells Fargo also participating. The valuation is nearly three times the $1.3 billion reached when Snorkel raised $100 million in May 2025.

Snorkel has shifted from selling data-development software toward supplying finished datasets and evaluation environments. CEO Alex Ratner told Reuters that the company expects profitability this year and plans to invest in research, enterprise and government work, and new data types.