Arena Valuation, Funding & Investors

Arena is valued at $3.1B as of October 2026.

See full Arena profile

Last Arena valuation

$3.1B

Series B · Oct 2026

Last Arena funding round

$200M

Series B · Oct 2026

Cumulative funding Arena raised

$200M

across 1 funding round

Key investors in Arena

  • Andreessen Horowitz
  • Lightspeed Venture Partners
  • Khosla Ventures
  • Salesforce Ventures
  • Felicis
  • Endeavor Catalyst

Arena Overview

About Arena

Arena is an artificial intelligence evaluation platform based in San Francisco, California, founded in 2023. Users submit prompts and compare responses from anonymous AI models side by side, and their votes feed public leaderboards that rank models. The leaderboards cover text generation, coding, image creation, video generation, document analysis and web development. The platform also offers tools to build landing pages, dashboards, games and full-stack apps with AI models. Its community-driven rankings give model developers and users a public benchmark of real-world performance.


Founded

2023

HQ

United StatesSan Francisco, CA

Website

arena.ai

Status

Privately held

Customer focus

B2C & B2B

Revenue model

Subscription, Usage-based

Valuation

$3.1B (Oct 2026)

Arena Valuation

Arena is currently valued at $3.1B, based on its Series B in October 2026. Read the announcement ↗

The $200M round was led by Khosla Ventures and Lightspeed Venture Partners, with participation from Salesforce Ventures, Felicis, The House Fund, Andreessen Horowitz, Endeavor Catalyst and 4 other investors.

Arena valuation by funding round

Arena valuation by funding round
DateStageValuation
Oct 2026Series B$3.1B

Arena Funding History

Arena has raised a total of $200M across 1 funding round.

Arena funding rounds

Arena funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2026Series BKhosla Ventures (lead); Lightspeed Venture Partners (lead); Salesforce Ventures; Felicis; The House Fund; Andreessen Horowitz; Endeavor Catalyst; 01 Advisors; QuantumLight; Dell Technologies Capital; AMP PBC$200M$3.1BArena, the company behind the LMArena AI model leaderboard, raised a USD 200 million Series B at a USD 3.1 billion valuation, announced on 8 October 2026. The round was led by Lightspeed Venture Partners and Khosla Ventures, with Salesforce Ventures, 01 Advisors, Dell Technologies Capital, Endeavor Catalyst, Andreessen Horowitz, Felicis and others joining. It follows a USD 150 million Series A in January 2026 at a USD 1.7 billion post-money valuation, so the valuation has nearly doubled in about ten months. The company said it would continue its mission to measure and advance AI models for real-world use, and launched an Alignment Index that ranks models on issues such as unauthorized action, false attribution and deceptive completion. Arena originated in 2023 as a research project at UC Berkeley that crowdsourced rankings of AI models. Consumers use the platform free to enter prompts and rate which model performs better, and the company says it draws tens of millions of monthly visitors. Its commercial product, AI Evaluations, gives model labs and enterprises performance analytics, and annualized revenue passed USD 100 million.

Who has invested in Arena?

11 investors have backed Arena across its funding rounds, including Andreessen Horowitz, Lightspeed Venture Partners, Khosla Ventures, Salesforce Ventures, Felicis and Endeavor Catalyst.

Lead investors include Khosla Ventures and Lightspeed Venture Partners.


Arena Investors

Investors in Arena by funding rounds participated
InvestorHQRoundsRoleFirst check
Salesforce VenturesUnited StatesSan Francisco, CA1ParticipantOct 2026
FelicisUnited StatesMenlo Park, CA1ParticipantOct 2026
The House FundUnited StatesBerkeley, CA1ParticipantOct 2026
Khosla VenturesUnited StatesSan Francisco, CA1LeadOct 2026
Andreessen HorowitzUnited StatesSan Francisco, CA1ParticipantOct 2026
Lightspeed Venture PartnersUnited StatesSan Francisco, CA1LeadOct 2026
Endeavor CatalystUnited StatesNew York City, NY1ParticipantOct 2026
01 AdvisorsUnited StatesSan Francisco, CA1ParticipantOct 2026
QuantumLightUnited KingdomLondon1ParticipantOct 2026

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Arena Competitors

Arena competitors include listed companies like C3.ai and Presight AI, and private ones like Sourcegraph, Liquid AI, Fal and Recursive Superintelligence.

Public and private companies comparable to Arena
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
C3.aiUnited StatesUnited StatesPublicly listed$250M($484M)$1.9B5.3x
SourcegraphUnited StatesSan Francisco, CAPrivate--$2.6B-
Liquid AIUnited StatesUnited StatesPrivate--$2.4B-
FalUnited StatesSan Francisco, CAPrivate$200M-$4.5B22.5x
Recursive SuperintelligenceUnited KingdomLondonPrivate--$4.7B-
Presight AIUAEUAEPublicly listed$825M$214M$5.3B4.9x

Arena Public Comps

Arena is still privately-owned, but its public comps include XtalPi, Intsig Information, InSilico Medicine Cayman, Ncino, Shenzhen Intellifusion, UBtech Robotics, CorVel, Affle 3i, Justsystems and Infleqtion.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
XtalPi$121M$22M21.1x17.9x113.9x(151.6x)
Intsig Information$272M$84M8.0x6.6x26.0x23.9x
InSilico Medicine Cayman$56M($353M)37.2x-(5.9x)-
Ncino$595M$65M4.5x4.2x41.1x16.1x
Shenzhen Intellifusion$201M($3M)10.6x10.9x(704.4x)(809.6x)
UBtech Robotics$301M($109M)13.2x8.0x(36.3x)(59.4x)
CorVel$959M$175M4.1x-22.4x-
Affle 3i$285M$67M6.3x5.6x26.7x24.7x

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Common questions about Arena

When was Arena founded?Arena was founded in 2023.
Where is Arena headquartered?Arena is headquartered in San Francisco, CA, United States.
Is Arena publicly listed?No, Arena is a private, VC-backed company.
What is Arena's valuation?Arena was last valued at $3.1B in its Series B in October 2026.
How much funding has Arena raised?Arena has raised $200M across 1 funding round.
What was Arena's last funding round?Arena's last funding round was a $200M Series B in October 2026, led by Khosla Ventures and Lightspeed Venture Partners.
Who are Arena's investors?Arena's investors include Salesforce Ventures, Felicis, The House Fund, Khosla Ventures, Andreessen Horowitz, Lightspeed Venture Partners, Endeavor Catalyst, 01 Advisors, QuantumLight, Dell Technologies Capital and 1 other.
Which companies are comparable to Arena?Companies comparable to Arena include C3.ai, Sourcegraph, Liquid AI, Fal, Recursive Superintelligence and Presight AI.

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