Funding round
Snorkel AI Series C
Snorkel AI, which works in research-grade dataset development in Redwood City, raised $85M in a Series C round announced on 9 Aug 2021, led by Addition and BlackRock, at a $1.00B post-money valuation. 10 firms took part, 9 of them already investors. It is Snorkel AI's third venture round on record; the one before was a Series B in Apr 2021.
$85M
Amount raised
$1.00B
Post-money valuation
10
Investors
2 leads
8.5%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Snorkel AI at $1.00B after the new money. The $85M bought investors about 8.5% of the company. It came 4 months after Snorkel AI's Series B. It is 15% of the $573M Snorkel AI has raised in the venture rounds on record. Snorkel AI raised again 45 months later: a Series D round of $100M in May 2025, at $1.30B post-money.
Snorkel AI's funding rounds
Snorkel AI has 5 venture rounds on record and 1 other deal. This one is highlighted.
- Seed 1 Jan 2019 $3.0M
- Other not a venture round 14 Jul 2020, led by Greylock Partners $15M
- Series B 7 Apr 2021, led by Lightspeed Venture Partners $35M
- Series C this round 9 Aug 2021, led by Addition and BlackRock $85M$1.00B post-money
- Series D 29 May 2025, led by Addition $100M$1.30B post-money
- Series E 22 Sep 2026, led by Insight Partners and S32 $350M$3.50B post-money
Investors
Who put money in
Addition and BlackRock led the round with 8 other firms. BlackRock, Factory, Cooley and Greylock Partners and 5 more had backed Snorkel AI before.
Lead investors
- Addition new investor
- BlackRock existing investor
Also in the round
- Factory existing investor
- Cooley existing investor
- Greylock Partners backs 190 venture-backed companies existing investor
- GV backs 428 venture-backed companies existing investor
- Lightspeed Venture Partners backs 454 venture-backed companies existing investor
- Nepenthe Capital existing investor
- Walden International existing investor
- backs 20 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
22 Series C rounds in Software Development Services within a year either side disclosed an amount; the median was $75M, and this round was close to the median. The closest in time, other companies' Series C rounds in Software Development Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Software Development Services | 25 Aug 2021 | $20M | not disclosed | not named |
| Software Development Services | 23 Sep 2021 | $80M | $500M | Fin Capital |
| Software Development Services | 29 Sep 2021 | $50M | not disclosed | Vistara Growth and PNC |
| Software Development Services | 6 Oct 2021 | $70M | not disclosed | Qumra Capital and Insight Partners |
| Deel Software Development Services | 21 Apr 2021 | $156M | $1.25B | Y Combinator |
| Software Development Services | 6 Apr 2021 | $100M | $1.05B | Steadfast Venture Capital and Steadfast Financial |
| Software Development Services | 10 Jan 2022 | $146M | not disclosed | SoftBank Group |
| Fireblocks Software Development Services | 18 Mar 2021 | $133M | not disclosed | Coatue and Ribbit |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Snorkel AI raise in its Series C round?
Snorkel AI raised $85M in its Series C round, announced in Aug 2021.
Who led Snorkel AI's Series C round?
Addition and BlackRock led it, with Factory, Cooley, Greylock Partners, GV and Lightspeed Venture Partners and 3 more.
What was Snorkel AI's valuation at the Series C round?
$1.00B post-money.
How does it compare with other Series C rounds in Software Development Services?
22 Series C rounds in Software Development Services within a year either side disclosed an amount; the median was $75M, and this round was close to the median.
Did Snorkel AI raise again after this round?
Yes: a Series D round in May 2025 of $100M at $1.30B post-money.