Palo Alto-based Snorkel AI, a data-centric platform provider for building AI applications, has raised $85 million in a Series C round co-led by Addition and BlackRock. Other and existing investors Factory and Cooley, Greylock, GV, Lightspeed Venture Partners, Nepenthe Capital, Walden International, and Stone Bridge Ventures participated in the funding round.
Snorkel would use the proceeds from the funding to accelerate its years of AI research and its product development.
Company: Snorkel AI, Inc.
Raised: $85.0M
Round: Series C
Funding Month: August 2021
Lead Investor: Addition and BlackRock
Additional Investor: Factory and Cooley, Greylock, GV, Lightspeed Venture Partners, Nepenthe Capital, Walden International, and Stone Bridge Ventures
Company Website: https://www.snorkel.ai
Software Category: a data-centric platform
About the Company: Snorkel AI, founded in 2019, specializes in data labeling and enables companies to AI-powered apps with it. It allows users to annotate and manage data using software development kits (SDK) and no-code interfaces, training models, and identifying model error modes, and lets them improve on them.
Source: https://saasindustry.com/news/snorkel-ai-raises-85m-in-series-c-at-1b-valuation/