Phase estimation is a quantum algorithm for measuring the eigenvalues of a Hamiltonian. We propose and rigorously analyse a randomized phase estimation algorithm with two distinctive features. First, our algorithm has complexity independent of the number of terms L in the Hamiltonian. Second, unlike previous L-independent approaches, such as those based on qDRIFT, all sources of error in our algorithm can be suppressed by collecting more data samples, without increasing the circuit depth.