SAN FRANCISCO, Sept. 22, 2026 /PRNewswire/ — Snorkel AI, the frontier AI data lab, today announced it raised 3.5B in a round co-led by Insight Partners and S32, with significant participation from existing investor Addition. The round included new investors March Capital, Blumberg Capital, Allegis Capital, Frontline, Standard, and Third Point Ventures, along with existing investors Greylock, Lightspeed, GV, Factory, Prosperity7, Walden Catalyst, and Wells Fargo.
The investment will expand Snorkel’s agentic data factory, which supplies the data and environments behind the world’s most advanced AI lab systems. Snorkel’s annualized revenue run rate now stands at $375 million, an eighteenfold increase over the last 12 months. CEO Alex Ratner told Reuters the company expects to reach profitability this year.