In January 2026, we raised our Series A to build the world's most trusted AI evaluation platform. Since then, Arena has grown rapidly into a platform that evaluates agentic capabilities in every arena of work. Weβve exceeded $100M in annualized revenue and have become the most trusted evaluation platform in AI. Today, we're announcing the next chapter: a $200 million Series B at a $3.1 billion valuation to continue on our mission to measure and advance the AI frontier for real-world use. In parallel, we are announcing the release of our Alignment Index, which measures how AI can deviate from human values in the real world.
This round is a vote of confidence in the idea that as AI gets more powerful, the world needs an independent, data-driven approach to measure not just the capabilities of AI, but whether it can be trusted and used safely in the real world. Agents are no longer just answering questions. They're writing code, running analyses, and taking actions on people's behalf, often in areas where the person can't easily check the work. When an agent deceives a user, or does something it wasn't permitted to do, it can have serious consequences. AI is advancing faster than our ability to evaluate it, and static benchmarks break down once models recognize they're being tested. The world needs a neutral third party to measure how safe and aligned AI actually is once it's in the hands of real people. Arena is stepping into that role today.
The release of our Alignment Index is part of our continued efforts to incentivize AI to benefit humans. Since our beginnings, we have stayed focused on how real people experience and work with AI. We started with human preference evaluations and evolved to measuring factuality after finding that the response people prefer isn't always the correct one. Today, Agent Arena delivers the most accurate real-world read of frontier agentic capability through a causal inference methodology that observes the full human-agent workflow in tasks like coding, document analysis, and creative writing. Our Series B is co-led by Lightspeed Venture Partners and Khosla Ventures with participation from Salesforce Ventures, 01 Advisors, Dell Technologies Capital, Acrew Capital, and Endeavor Catalyst. We're also excited to have support from our existing investors a16z, Felicis, AMP PBC, QuantumLight, The House Fund, Panos Madamopoulos, and others.










