Latest news with #SnorkelAI
Yahoo
2 days ago
- Business
- Yahoo
Snorkel AI secures investment from Accenture
Accenture has invested in Snorkel AI, aimed at assisting financial services firms in developing and scaling AI solutions. The financial details of the strategic investment have not been disclosed. This investment, through Accenture Ventures, focuses on enhancing the curation of high-quality datasets essential for training and evaluating AI models. Snorkel AI offers Data Development Platform, which facilitates the evaluation and tuning of specialised AI systems at scale. The platform includes services such as Snorkel Expert Data-as-a-Service and Snorkel Enterprise AI, which expedite the transition from prototype to production by employing advanced data development technology. Snorkel AI co-founder and CEO Alex Ratner said: 'This partnership marks a major milestone in our mission to make data-centric AI the foundation of enterprise innovation. 'As momentum builds around agentic AI, most enterprises still lack the domain-specific data and expertise needed to move from prototype to production.' Originating from the Stanford AI Lab, Snorkel AI's platform is currently utilised by major corporations, including BNY and Experian, as well as by the US government. The platform is designed to address the needs of agentic AI, employing automation and repeatable workflows to convert fragmented data and domain knowledge into datasets for AI model training and evaluation. This data-centric methodology supports quicker and safer deployment of AI systems, particularly in complex regulatory environments. Accenture and Snorkel AI plan to collaborate on creating customised solutions tailored to specific industries, with an initial emphasis on the financial services sector. Additionally, Snorkel AI will participate in Accenture Ventures' Project Spotlight, which is an accelerator programme for data and AI companies. This initiative provides access to Accenture's industry expertise and client network, enabling startups to innovate and realise their technological potential. Accenture Ventures global lead Tom Lounibos said: 'Our clients are looking to harness AI in ways that are fast, secure, and aligned to real business outcomes. 'Snorkel's unique approach solves one of the most persistent pain points in AI development—high-quality datasets for training and evaluation of AI models.' In late July 2025, Accenture announced the acquisition of Maryville Consulting Group, a US-based technology consultancy, to strengthen its technology strategy capabilities. "Snorkel AI secures investment from Accenture" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
3 days ago
- Business
- Yahoo
Accenture (ACN) Backs Snorkel AI to Help Businesses Build Better AI—Starting With Finance
Accenture plc (NYSE:ACN) is one of the . On August 6, the company announced that it has made a strategic investment, through Accenture Ventures, in Snorkel AI. The investment aims to enable enterprises to build and scale AI solutions rapidly by managing high-quality datasets for training and evaluating AI models. Snorkel's flagship platform uses automation and repeatable workflows to transform data and domain knowledge into high-quality training and evaluating data for AI models. Through its data-centric approach, AI systems can be deployed safely and swiftly, particularly in complex and regulated environments. Accenture and Snorkel AI will also be collaborating to build industry-specific solutions, using best-in-class training data to build AI solutions at scale. Their initial focus is going to be on the financial services industry. 'Our clients are looking to harness AI in ways that are fast, secure, and aligned to real business outcomes. Snorkel's unique approach solves one of the most persistent pain points in AI development—high-quality datasets for training and evaluation of AI models. This investment can help our clients move from experimentation to impact more quickly.' -Tom Lounibos, global lead for Accenture Ventures. Accenture plc (NYSE:ACN) offers strategy and consulting services. While we acknowledge the potential of ACN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Sign in to access your portfolio
TechCrunch
18-06-2025
- Business
- TechCrunch
Here are the 24 US AI startups that have raised $100M or more in 2025
Last year was monumental for the AI industry in the U.S. and beyond. There were 49 startups that raised funding rounds worth $100 million or more in 2024, per our count at TechCrunch; three companies raised more than one 'megaround,' and seven companies raised rounds $1 billion in size or larger. How will 2025 compare? It's still the first half of the year, but so far it looks like 2024's momentum will continue this year. There have already been multiple billion-dollar rounds this year, and more AI megarounds closed in the U.S. in Q1 2025 compared to Q1 2024. Here are all the U.S. AI companies that have raised $100 million this year: June Enterprise search startup Glean continues to rake in cash. The company announced a $150 million Series F round on June 10, led by Wellington Management with participation from Sequoia, Lightspeed Venture Partners, and Kleiner Perkins, among others. Glean is now valued at $7.25 billion. continues to rake in cash. The company announced a $150 million Series F round on June 10, led by Wellington Management with participation from Sequoia, Lightspeed Venture Partners, and Kleiner Perkins, among others. Glean is now valued at $7.25 billion. Anysphere, the AI research lab behind AI coding tool Cursor, raised a sizable $900 million Series C round that values the company at nearly $10 billion. The round was led by Thrive Capital with participation from Andreessen Horowitz, Accel, and DST Global. May AI data labeling startup Snorkel AI announced a $100 million Series D round on May 29, valuing the company at $1.3 billion. The round was led by Addition with participation from Prosperity7 Ventures, Lightspeed Venture Partners, and Greylock. announced a $100 million Series D round on May 29, valuing the company at $1.3 billion. The round was led by Addition with participation from Prosperity7 Ventures, Lightspeed Venture Partners, and Greylock. LMArena , a popular, community-driven benchmarking tool for AI models, raised a $100 million seed round that valued the startup at $600 million. The round was announced on May 21 and was co-led by Andreessen Horowitz and UC Investments. Lightspeed Venture Partners, Kleiner Perkins, and Felicis also participated, among others. , a popular, community-driven benchmarking tool for AI models, raised a $100 million seed round that valued the startup at $600 million. The round was announced on May 21 and was co-led by Andreessen Horowitz and UC Investments. Lightspeed Venture Partners, Kleiner Perkins, and Felicis also participated, among others. Las Vegas-based AI infrastructure company TensorWave announced a $100 million Series A round on May 14. The round was co-led by Magnetar Capital and AMD Ventures with participation from Prosperity7 Ventures, Nexus Venture Partners, and Maverick Silicon. April SandboxAQ closed a $450 million Series E round on April 4 that valued the AI model company at $5.7 billion. The round included Nvidia, Google, and Bridgewater Associates founder Ray Dalio among other investors. closed a $450 million Series E round on April 4 that valued the AI model company at $5.7 billion. The round included Nvidia, Google, and Bridgewater Associates founder Ray Dalio among other investors. Runway, which creates AI models for media production, raised a $308 million Series D round that was announced on April 3, valuing the company at $3 billion. It was led by General Atlantic. SoftBank, Nvidia, and Fidelity also participated. March February Together AI , which creates open source generative AI and AI model development infrastructure, raised a $305 million Series B round that valued the company at $3.3 billion. The February 20 round was co-led by Prosperity7 and General Catalyst with participation from Salesforce Ventures, Nvidia, Lux Capital, and others. , which creates open source generative AI and AI model development infrastructure, raised a $305 million Series B round that valued the company at $3.3 billion. The February 20 round was co-led by Prosperity7 and General Catalyst with participation from Salesforce Ventures, Nvidia, Lux Capital, and others. AI infrastructure company Lambda raised a $480 million Series D round that was announced on February 19. The round valued the startup at nearly $2.5 billion and was co-led by SGW and Andra Capital. Nvidia, G Squared, ARK Invest, and others also participated. raised a $480 million Series D round that was announced on February 19. The round valued the startup at nearly $2.5 billion and was co-led by SGW and Andra Capital. Nvidia, G Squared, ARK Invest, and others also participated. Abridge , an AI platform that transcribes patient-clinician conversations, was valued at $2.75 billion in a Series D round that was announced on February 17. The $250 million round was co-led by IVP and Elad Gil. Lightspeed, Redpoint, and Spark Capital also participated, among others. , an AI platform that transcribes patient-clinician conversations, was valued at $2.75 billion in a Series D round that was announced on February 17. The $250 million round was co-led by IVP and Elad Gil. Lightspeed, Redpoint, and Spark Capital also participated, among others. Eudia , an AI legal tech company, raised $105 million in a Series A round led by General Catalyst. Floodgate, Defy Ventures, and Everywhere Ventures also participated in the round in addition to other VC firms and numerous angel investors. The round closed on February 13. , an AI legal tech company, raised $105 million in a Series A round led by General Catalyst. Floodgate, Defy Ventures, and Everywhere Ventures also participated in the round in addition to other VC firms and numerous angel investors. The round closed on February 13. AI hardware startup EnCharge AI raised a $100 million Series B round that also closed on February 13. The round was led by Tiger Global with participation from Scout Ventures, Samsung Ventures, and RTX Ventures, among others. The Santa Clara-based business was founded in 2022. raised a $100 million Series B round that also closed on February 13. The round was led by Tiger Global with participation from Scout Ventures, Samsung Ventures, and RTX Ventures, among others. The Santa Clara-based business was founded in 2022. AI legal tech company Harvey raised a $300 million Series D round that valued the 3-year-old company at $3 billion. The round was led by Sequoia and announced on February 12. OpenAI Startup Fund, Kleiner Perkins, Elad Gil, and others also participated in the raise. January Synthetic voice startup ElevenLabs raised a $180 million Series C round that valued the company at more than $3 billion. It was announced on January 30. The round was co-led by ICONIQ Growth and Andreessen Horowitz. Sequoia, NEA, Salesforce Ventures, and others also participated in the round. raised a $180 million Series C round that valued the company at more than $3 billion. It was announced on January 30. The round was co-led by ICONIQ Growth and Andreessen Horowitz. Sequoia, NEA, Salesforce Ventures, and others also participated in the round. Hippocratic AI, which develops large language models for the healthcare industry, announced a $141 million Series B round on January 9. This round valued the company at more than $1.6 billion and was led by Kleiner Perkins. Andreessen Horowitz, Nvidia, and General Catalyst also participated, among others. This piece was updated on April 23 and June 18 to include more deals. This piece has been updated to remove that Abridge is based in Pittsburgh; the company was founded there.
Bloomberg
18-06-2025
- Business
- Bloomberg
Scale AI Rivals See Customer Demand Surge After Meta Investment
Alex Ratner was trying to get in a few hours of work after putting his kids to bed when news broke that Meta Platforms Inc. planned to invest billions of dollars in data-labeling startup Scale AI. Within minutes, Ratner, who runs a rival company called Snorkel AI, began fielding calls from his board about the chance to pick up clients worried about Scale's independence. Then came the inquiries from possible customers — dozens of them, he said, resulting in 'tens of millions of dollars' in potential deals at various stages of completion over the past week. 'Every responsible LLM developer is going to be making a lot of moves to diversify their vendor portfolio,' Ratner said, using an acronym for large language models. 'There will be some major shifts and major openings.'
Forbes
29-05-2025
- Business
- Forbes
Snorkel AI Raises $100 Million To Build Better Evaluators For AI Models
Snorkel AI CEO Alex Ratner said his company is placing more emphasis on helping subject matter experts build datasets and models for evaluating AI systems. Alex Ratner, CEO of Snorkel AI remembers a time when data labeling —the grueling task of adding context to swathes of raw data and grading an AI model's response— was considered 'janitorial' work among AI researchers. But that quickly changed when ChatGPT stunned the world in 2022 and breathed new life (and billions of dollars) into a string of startups rushing to supply human-labeled data to the likes of OpenAI and Anthropic to train capable models. Now, the crowded field of data labelling appears to be undergoing another shift. Fewer companies are training large language models from scratch, leaving that task instead to the tech giants. Instead, they are fine-tuning models and building applications in areas like software development, healthcare and finance, creating demand for specialized data. AI chatbots no longer just write essays and haikus; they're being tasked with high stakes jobs like helping physicians make diagnoses or screening loan applications, and they're making more mistakes. Assessing a model's performance has become crucial for businesses to trust and ultimately adopt AI, Ratner said. 'Evaluation has become the new entry point,' he told Forbes. That urgency for measuring AI's abilities across very specific use cases has sparked a new direction for Snorkel AI, which is shifting gears to help enterprises create evaluation systems and datasets to test their AI models and adjust them accordingly. Data scientists and subject matter experts within an enterprise use Snorkel's software to curate and generate thousands of prompt and response pairs as examples of what a correct answer looks like to a query. The AI model is then evaluated according to that dataset, and trained on it to improve overall quality. The company has now raised $100 million in a Series D funding round led by New York-based VC firm Addition at a $1.3 billion valuation— a 30% increase from its $1 billion valuation in 2021. The relatively small change in valuation could be a sign that the company hasn't grown as investors expected, but Ratner said it's a result of a 'healthy correction in the broader market.' Snorkel AI declined to disclose revenue. Customer support experts at a large telecommunication company have used Snorkel AI to evaluate and fine tune its chatbot to answer billing related questions and schedule appointments, Ratner told Forbes. Loan officers at one of the top three U.S. banks have used Snorkel to train an AI system that mined databases to answer questions about large institutional customers, improving its accuracy from 25% to 93%, Ratner said. For nascent AI startup Rox that didn't have the manpower or time to evaluate its AI system for salespeople, Snorkel helped improve the accuracy by between 10% to 12%, Rox cofounder Sriram Sridharan told Forbes. It's a new focus for the once-buzzy company, which spun out of the Stanford Artificial Intelligence Lab in 2019 with a product that helped experts classify thousands of images and text. But since the launch of ChatGPT in 2022, the startup has been largely overshadowed by bigger rivals as more companies flooded the data labelling space. Scale AI, which also offers data labeling and evaluation services, is reportedly in talks to finalize a share sale at a $25 billion valuation, up from its $13.8 billion valuation a year ago. Other competitors include Turing, which doubled its valuation to $2.2 billion from 2021, and Invisible Technologies, which booked $134 million in 2024 revenue without raising much from VCs at all. Snorkel has faced macro challenges too: As AI models like those powering ChatGPT got better, they could label data on a massive scale for free, shrinking the size of the market further. Ratner acknowledged that Snorkel saw a brief period of slow growth right after OpenAI launched ChatGPT and said enterprises had paused pilots with some vendors to consider using AI models for labelling directly. But he said Snorkel's business bounced back in 2023 and has grown since. Ratner said Snorkel's differentiator is its emphasis on bringing in subject matter experts — either its own or those within a company– and using a proprietary method called 'programmatic labelling,' to automatically assign labels to massive troves of data through simple keywords or bits of code as opposed to doing it manually. The aim is to help time-crunched experts like doctors and lawyers label data faster and more economically. As it leans into evaluation, which also requires data generation, Snorkel has started hiring tens of thousands of skilled contractors like STEM professors, lawyers, accountants and fiction writers to create specialized datasets for multiple AI developers, who then use the datasets to evaluate their models (he declined to say which frontier AI labs Snorkel works with). They can also use this data to add new functionality to their chatbots, like the ability to break down and 'reason' about a difficult query or conduct in-depth research on a topic, Ratner said. But even when it comes to building specialized evaluations, Snorkel faces fierce competition— new and old. The top AI companies have released a number of public benchmarks and open source datasets to evaluate their models. LMArena, a popular leaderboard for evaluating AI model performance, recently spun out as a new company and raised $100 million in seed funding from top investors at a hefty $600 million valuation, according to Bloomberg. Plus, companies like Scale, Turing and Invisible, all offer evaluation services. But Ratner said that unlike its rivals, Snorkel was built around human experts right from the start. Saam Motamedi, a partner at Greylock who participated in the round, said these new specialized dataset services are a fast-growing part of Snorkel's business as the industry shifts to what's called 'post training' — the process of tweaking the model's performance for certain applications. AI has already soaked up most of the internet data, making datasets custom-made by domain experts even more valuable. 'I think that market tailwind has proven to be a really good one for Snorkel,' he said. MORE FROM FORBES
