- Companies
- Alice
Last Alice valuation
$500M
Series B · Jul 2021
Last Alice funding round
$140M
Undisclosed stage · Aug 2026
Cumulative funding Alice raised
$240M
across 3 funding rounds
Key investors in Alice
Vintage Investment Partners
Grove Ventures
Phoenix Financial
CRV
Resolute Ventures
Highland Europe
About Alice
Alice is a New York-based artificial-intelligence trust, safety and security company formerly known as ActiveFence. The company uses nearly a decade of adversarial-intelligence data to identify how malicious actors exploit online platforms, machine-learning models and autonomous agents. Its platform helps model developers test systems before release and helps enterprises apply policies, guardrails and continuous monitoring after deployment. Alice maintains the Rabbit Hole dataset of harmful and adversarial content and operates a research organization with more than 150 specialists. The company says its technology protects more than three billion users and is used by eight of the ten leading artificial-intelligence laboratories, including Anthropic, Google and Cohere. Customers use the software to uncover jailbreaks, prompt injection, policy violations, data leakage and other unintended model behavior. Alice was approaching USD 100 million in annual recurring revenue when it raised capital in August 2026. The business earns recurring software and research-service revenue from enterprise platforms and artificial-intelligence developers.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$500M (Jul 2021)
Alice Valuation
Alice is currently valued at $500M, based on its Series B in July 2021.
The $100M round was led by CRV and Highland Europe, with participation from Vintage Investment Partners, Resolute Ventures and Phoenix Financial.
Alice valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2021 | Series B | $500M |
Alice Funding History
Alice has raised a total of $240M across 3 funding rounds.
Alice's first fundraising round was a Series A in July 2021. The most recent completed round was a $140M undisclosed-stage round in August 2026.
Alice funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2026 | Undisclosed stage | Apax Digital (lead); Grove Ventures; Vintage Investment Partners; Maj Invest Equity; Phoenix Financial | $140M | - | Alice, the AI security company formerly known as ActiveFence, raised USD 140 million in a round led by Apax Digital Funds, with Maj Invest joining as a new backer alongside SentinelOne, Samsung Electronics, MoreTech and Phoenix Insurance. Existing investors including Resolute Ventures, Grove Ventures, CRV, Highland Europe, Vintage Investment Partners, Norwest, NFX and Claltech also participated, taking total funding to USD 280 million. The company said its AI security business had grown more than 500 per cent over two years and was approaching USD 100 million of annual recurring revenue. |
| Jul 2021 | Series B | CRV (lead); Highland Europe (lead); Vintage Investment Partners; Resolute Ventures; Phoenix Financial | $100M | $500M | ActiveFence is an AI-powered online safety company co-headquartered in New York and Tel Aviv that detects and combats malicious content including hate speech, disinformation, fraud, and child exploitation. The company uses natural language processing and machine learning algorithms to proactively search the internet for threats and harmful campaigns before they reach customer platforms, protecting billions of users across social media, gaming, streaming, file sharing, and marketplace platforms. Founded in 2018, ActiveFence emerged from stealth on July 27, 2021, announcing $100 million in funding across two rounds: a Series B led by CRV and Highland Europe, and a previously undisclosed Series A led by Grove Ventures and Norwest Venture Partners, with additional participation from Resolute Ventures and Vintage Investment Partners. The company was valued at over $500 million post-money and reported experiencing approximately 100% annual growth. ActiveFence's customer base includes some of the world's leading internet platforms, though specific names were not disclosed, and the company was expanding into additional markets including government agencies and brands seeking to secure their online ecosystems. |
| Jul 2021 | Series A | Grove Ventures (lead) | - | - | ActiveFence, which later rebranded as Alice, disclosed a previously unannounced Series A when it emerged from stealth in July 2021. Grove Ventures and Norwest Venture Partners led that round. Alice provides trust, safety and security software for online platforms and artificial-intelligence developers. Its technology combines adversarial intelligence, automated detection, specialist research and policy tooling to identify harmful content and attacks. Customers use the platform to evaluate models before release, enforce policies during operation and monitor abuse as threats change. The company serves large technology platforms and artificial-intelligence laboratories through recurring software and research services. Norwest's co-lead role remains in the synopsis while only Grove is attached in this scoped investor pass. |
Who has invested in Alice?
8 investors have backed Alice across its funding rounds, including Vintage Investment Partners, Grove Ventures, Phoenix Financial, CRV, Resolute Ventures and Highland Europe.
Lead investors include Apax Digital, CRV, Highland Europe and Grove Ventures.
Alice Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jul 2021 | ||
| 2 | Participant | Jul 2021 | ||
| 2 | Participant | Jul 2021 | ||
| 1 | Participant | Aug 2026 | ||
| 1 | Lead | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
This data is available for Pro users. Sign up to see all 8 Alice investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Alice
Alice has acquired 2 companies to date.
Last acquisition by Alice was on September 7th 2023. Alice acquired Spectrum Labs for undisclosed valuation.
Latest Acquisitions by Alice
| Description | Spectrum Labs is an AI platform detecting toxic behaviors in text, voice, and multilingual content for online safety. San Francisco-headquartered, it helps trust and safety teams at gaming and social platforms reduce moderation costs through automated flagging of harassment and misinformation. The technology processes real-time interactions to protect user communities globally. | Amsterdam-based Rewire builds APIs for detecting harmful online content including hate speech and misinformation. The platform scans social media posts and comments in real-time for moderation tools. Rewire serves news publishers and forums in Europe with customizable risk scores. |
| HQ Country | ||
| HQ City | San Francisco, CA | London |
| Deal Date | 7 Sep 2023 | 8 Mar 2023 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Alice acquisitions and their M&A valuation multiples. Start Free Trial | ||
Alice Competitors
Alice competitors include listed companies like ExaWizards and Datasection, and private ones like /dev/agents, Auradine, Comfy and Crescendo.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $500M | - | ||
| Private | - | - | $500M | - | ||
| Private | - | - | $500M | - | ||
| Private | $91M | - | $500M | 5.5x | ||
| Publicly listed | $76M | $13M | $475M | 4.6x | ||
| Publicly listed | $213M | $27M | $557M | 2.6x |
Alice Public Comps
Alice is still privately-owned, but its public comps include Unisound Ai Technology, ExaWizards, Datasection, Hanwang Technology Co, Intelligo Technology, Capillary Techs India, Shenzhen Sunwin, Baida Group Co, Rezolve AI and Beijing Hanyi Innovation.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $182M | ($22M) | 2.3x | 2.4x | (18.8x) | (16.2x) | |||
| $76M | $13M | 5.6x | 4.6x | 33.4x | - | |||
| $213M | $27M | 2.6x | 2.6x | 20.7x | 21.0x | |||
| $284M | ($14M) | 2.1x | - | (41.7x) | - | |||
| $49M | $20M | 6.7x | 6.5x | 16.6x | - | |||
| $77M | $13M | 5.3x | 4.2x | 32.1x | 28.7x | |||
| $20M | ($148M) | 32.6x | - | (4.3x) | - | |||
| $31M | $9M | 13.8x | - | 45.9x | - | |||
This data is available for Pro users. Sign up to see all Alice competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Alice
| When was Alice founded? | Alice was founded in 2018. |
| Where is Alice headquartered? | Alice is headquartered in New York City, NY, United States. |
| Is Alice publicly listed? | No, Alice is a private, VC-backed company. |
| What is Alice's valuation? | Alice was last valued at $500M in its Series B in July 2021. |
| How much funding has Alice raised? | Alice has raised $240M across 3 funding rounds. |
| What was Alice's last funding round? | Alice's last funding round was a $140M undisclosed-stage round in August 2026, led by Apax Digital. |
| Who are Alice's investors? | Alice's investors include Grove Ventures, Vintage Investment Partners, Phoenix Financial, Maj Invest Equity, Highland Europe, Resolute Ventures, CRV and Apax Digital. |
| Which companies are comparable to Alice? | Companies comparable to Alice include /dev/agents, Auradine, Comfy, Crescendo, ExaWizards and Datasection. |
| How many companies has Alice acquired? | Alice has acquired 2 companies, including Spectrum Labs and Rewire. |
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