What happened
Snorkel AI, a seven-year-old startup, has raised a $350 million Series E funding round.
The new funding triples the company's valuation to $3.5 billion.
The round supports Snorkel AI's data-as-a-service approach, which aims to meet growing demand for AI training data.
Why it matters
The tripling of valuation suggests investors see significant growth potential in the market for AI training data.
As AI models become more prevalent, the need for high-quality, labeled data is likely to increase, positioning Snorkel AI to benefit from this trend.
Key facts
Snorkel AI has raised a $350 million Series E.
The company's valuation is now $3.5 billion, triple its previous valuation.
Snorkel AI is seven years old.
The company focuses on a data-as-a-service approach.
What to watch next
How Snorkel AI uses the new capital to expand its data-as-a-service offerings.
Whether the company can maintain its growth trajectory as competition in the AI training data space intensifies.
