Snorkel AI
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This week's largest US funding rounds were led by cybersecurity firms Island and Cyera, each raising $400M. Foundational AI company Snorkel AI raised $350M Series E at a $3.2B valuation, while AI drug discovery firm Enveda raised $311M Series E.
Snorkel AI raised a $350M Series E at a $3.5B valuation, nearly triple its valuation from 17 months ago. The company shifted from data labeling to data-as-a-service and now has a $375M annualized revenue run-rate, an 18-fold increase over 12 months.
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Top 10 US funding rounds: cybersecurity and AI lead