Arena Intelligence Inc., the company behind a widely used AI model leaderboard, raised $200 million in a new funding round. The financing brings its valuation to $3.1 billion. That is up from $1.7 billion in January 2026.
Lightspeed Venture Partners and Khosla Ventures co-led the round. The venture arms of Dell Technologies and Salesforce also participated.
Alongside the funding announcement, Arena launched the Arena Alignment Index, a tool designed to measure AI models’ safety and reliability. The funding and launch come as AI capabilities expand and demand grows for independent evaluation and benchmarking.