Company intelligence

Arena

As of October 8, 2026, Arena was last valued at $3.1B (October 2026 Series B) and has raised at least $450M in equity across 3 sourced funding rounds. Its most recent arr figure is $100M, reported by TechCrunch, October 2026.

Arena (formerly LMArena, born as Chatbot Arena at UC Berkeley) operates the crowdsourced leaderboard and evaluation platform used industry-wide to benchmark and rank AI models.

AI infraSan Francisco, California, USAFounded 2023Founders: Wei-Lin Chiang, Anastasios N. Angelopoulos, Ion StoicaWebsite ↗See connections →Compare with OpenAI
Last verified Oct 8, 2026

Arena at a glance

As of
Latest valuation
$3.1B[1]
Series B · October 2026
Equity raised
$450M[2]
Across 3 sourced roundsDerived
ARR
$100M[3]
October 2026
Lead investors
Lightspeed Venture Partners, Khosla Ventures, Felicis Ventures, UC Investments[4]
Across 2 sourced rounds
Founded
2023[5]
  1. [1] Latest valuation: TechCrunch, October 8, 2026
  2. [2] Equity raised: Sum of the 3 sourced equity rounds in the funding history below (debt, tender offers and rumored rounds excluded), October 8, 2026
  3. [3] ARR: TechCrunch, October 8, 2026
  4. [4] Lead investors: TechCrunch, October 8, 2026
  5. [5] Founded: Wikipedia (retrieved September 5, 2026)
Ranked on: #18 Largest Series A Rounds of 2026 (Ranked) · #18 Largest Series B Rounds of 2026 (Ranked) · #23 Highest-Revenue Private Companies 2026

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Company Snapshot

Arena is an AI infra company, based in San Francisco, California, USA, founded 2023 by Wei-Lin Chiang, Anastasios N. Angelopoulos, Ion Stoica.

Recent changes

  1. Oct 8, 2026Raised $200M Series B at a $3.1B valuation TechCrunch
  2. Oct 8, 2026First reported arr: $100M TechCrunch
  3. Oct 8, 2026New investor: 01 Advisors TechCrunch
  4. Oct 8, 2026New investor: Khosla Ventures TechCrunch
  5. Oct 8, 2026New investor: Salesforce Ventures TechCrunch
Earlier changes (15)
  1. Oct 8, 2026New investor: Endeavor Catalyst TechCrunch
  2. Oct 8, 2026New investor: Dell Technologies Capital TechCrunch
  3. Oct 8, 2026Arena Nearly Doubles To $3.1B In 10 Months Pulse story
  4. Oct 8, 2026Valuation rose from $1.7B to $3.1B TechCrunch
  5. Jun 29, 2026Arena, the AI Leaderboard Everyone Uses, Becomes a $100M Business Eight Months After Launch Pulse story
  6. Jun 29, 2026Arena, the AI Leaderboard Everyone Uses, Is Now a $100M Business Pulse story
  7. Jun 29, 2026Arena, the AI Leaderboard Everyone Uses, Hits $100M Revenue Run-Rate Pulse story
  8. Jan 6, 2026Raised $150M Series A at a ~$1.7B valuation Wikipedia
  9. Jan 6, 2026New investor: The House Fund Wikipedia
  10. Jan 6, 2026New investor: Laude Ventures Wikipedia
  11. Jan 2026Valuation rose from $600M to $1.7B TechCrunch
  12. May 2025Raised $100M Seed at a $600M valuation Wikipedia
  13. May 2025First reported valuation: $600M Wikipedia
  14. May 2025New investor: Andreessen Horowitz Wikipedia
  15. May 2025New investor: Felicis Ventures Wikipedia

Funding history

3 equity events · newest first · sources dated per row
DateRoundAmountValuationLead investorsSource
Oct 8, 2026Series B$200M$3.1Bpost-money
Lightspeed Venture PartnersunverifiedKhosla Venturesunverified
WithSalesforce Venturesunverified01 AdvisorsunverifiedDell Technologies CapitalunverifiedEndeavor CatalystunverifiedAndreessen HorowitzunverifiedFelicis Venturesunverified
TechCrunch
Jan 6, 2026Series A$150M~$1.7Bpost-money
Felicis VenturesUC Investments
WithAndreessen HorowitzThe House FundLDVPKleiner PerkinsLightspeed Venture PartnersLaude Ventures
Wikipedia
May 2025Seed$100M$600Mpost-money
—
WithAndreessen HorowitzUC InvestmentsLightspeed Venture PartnersFelicis VenturesKleiner Perkins
Wikipedia

Equity only. “Equity raised” above sums the rounds with a dated, linked source; rumored rounds, tender offers and secondary sales are listed but not counted, and debt financing is listed separately.

Funding timeline · 3 rounds · $450M tracked
$0.0M$112M$224M$100MSeedMay 25$150MSeries AJan 26$200MSeries BOct 26
Valuation over time
$0M$1.7B$3.4B2025-052026-012026-10
Underlying values
As ofValueMethodSource
Oct 8, 2026$3.1BReportedTechCrunch
Jan 2026$1.7BReportedTechCrunch
May 2025$600MDerivedWikipedia

Investors

Felicis VenturesLightspeed Venture PartnersUC InvestmentsKhosla VenturesAndreessen HorowitzKleiner Perkins01 AdvisorsDell Technologies CapitalEndeavor CatalystLaude VenturesLDVPSalesforce VenturesThe House FundHanwha Asset Management

Latest Pulse

  1. Arena Nearly Doubles To $3.1B In 10 MonthsThe AI leaderboard startup raised a $200M Series B led by Lightspeed and Khosla, nearly doubling its valuation from January as it pushes into AI-safety grading.→
  2. Arena, the AI Leaderboard Everyone Uses, Becomes a $100M Business Eight Months After LaunchArena, the crowdsourced AI model leaderboard that began as a UC Berkeley research project, disclosed on June 29 that it has reached $100 million in annualized run-rate revenue — up from $30 million in January — just eight months after launching its paid AI Evaluations product. The company has raised $250 million total, including a $150 million Series A in January at a $1.7 billion valuation.→
  3. Arena, the AI Leaderboard Everyone Uses, Hits $100M Revenue Run-RateArena -- the crowdsourced AI-model leaderboard born as a UC Berkeley research project and now relied on across the industry -- has reached a $100 million annualized revenue run-rate, up from $30 million in January, on the back of its commercial AI-evaluations business. The company raised a $150 million Series A in January at a $1.7 billion valuation and has turned 10 million-plus human model comparisons into a paid product for labs and enterprises.→
  4. Arena, the AI Leaderboard Everyone Uses, Is Now a $100M BusinessArena, the crowdsourced model-evaluation platform born as Chatbot Arena at UC Berkeley, hit $100 million in annualized run-rate revenue just eight months after launching its paid 'AI Evaluations' service. Its free public leaderboard -- built on more than 10 million head-to-head user votes -- has become the industry's default benchmark, and the company has parlayed that trust into a $1.7 billion valuation.→

Coverage Timeline

newest first
  1. Oct 8, 2026FUNDINGArena Nearly Doubles To $3.1B In 10 Months$200M Series B→
  2. Jun 29, 2026FUNDINGArena, the AI Leaderboard Everyone Uses, Becomes a $100M Business Eight Months After Launch$100M ARR→
  3. Jun 29, 2026FUNDINGArena, the AI Leaderboard Everyone Uses, Hits $100M Revenue Run-Rate$100M run-rate→
  4. Jun 29, 2026AIArena, the AI Leaderboard Everyone Uses, Is Now a $100M Business$100M ARR→

All Coverage

FUNDING
Arena Nearly Doubles To $3.1B In 10 Months
FUNDING$200M Series B

Arena Nearly Doubles To $3.1B In 10 Months

The AI leaderboard startup raised a $200M Series B led by Lightspeed and Khosla, nearly doubling its valuation from January as it pushes into AI-safety grading.

DEEP DIVE
FUNDING
Arena, the AI Leaderboard Everyone Uses, Becomes a $100M Business Eight Months After Launch
Illustration for: Arena, the AI Leaderboard Everyone Uses, Becomes a $100M Business Eight Months After Launch
FUNDING$100M ARR

Arena, the AI Leaderboard Everyone Uses, Becomes a $100M Business Eight Months After Launch

Arena, the crowdsourced AI model leaderboard that began as a UC Berkeley research project, disclosed on June 29 that it has reached $100 million in annualized run-rate revenue — up from $30 million in January — just eight months after launching its paid AI Evaluations product. The company has raised $250 million total, including a $150 million Series A in January at a $1.7 billion valuation.

FUNDING
Arena, the AI Leaderboard Everyone Uses, Hits $100M Revenue Run-Rate
Illustration for: Arena, the AI Leaderboard Everyone Uses, Hits $100M Revenue Run-Rate
FUNDING$100M run-rate

Arena, the AI Leaderboard Everyone Uses, Hits $100M Revenue Run-Rate

Arena -- the crowdsourced AI-model leaderboard born as a UC Berkeley research project and now relied on across the industry -- has reached a $100 million annualized revenue run-rate, up from $30 million in January, on the back of its commercial AI-evaluations business. The company raised a $150 million Series A in January at a $1.7 billion valuation and has turned 10 million-plus human model comparisons into a paid product for labs and enterprises.

AI
Arena, the AI Leaderboard Everyone Uses, Is Now a $100M Business
Illustration for: Arena, the AI Leaderboard Everyone Uses, Is Now a $100M Business
AI$100M ARR

Arena, the AI Leaderboard Everyone Uses, Is Now a $100M Business

Arena, the crowdsourced model-evaluation platform born as Chatbot Arena at UC Berkeley, hit $100 million in annualized run-rate revenue just eight months after launching its paid 'AI Evaluations' service. Its free public leaderboard -- built on more than 10 million head-to-head user votes -- has become the industry's default benchmark, and the company has parlayed that trust into a $1.7 billion valuation.

Value Add Research

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Arena FAQ

What is Arena's valuation?

Arena was last valued at $3.1B in its October 2026 Series B, according to TechCrunch (October 8, 2026).

How much has Arena raised?

Arena has raised at least $450M in equity across 3 sourced funding rounds tracked by Value Add VC. The most recent was a $200M Series B in October 2026 at a $3.1B post-money valuation, reported by TechCrunch. Debt financing, tender offers and secondary sales are not counted.

Who invested in Arena?

Lead investors in Arena's sourced funding rounds include Lightspeed Venture Partners, Khosla Ventures, Felicis Ventures and UC Investments. Per round: its October 2026 Series B was led by Lightspeed Venture Partners and Khosla Ventures; its January 2026 Series A was led by Felicis Ventures and UC Investments.

What is Arena's revenue?

Arena's most recent arr figure is $100M, reported by TechCrunch, October 2026.

When was Arena founded?

Arena was founded in 2023, according to Wikipedia.

Sources & methodologyshow
Where these figures come from

Figures are labelled Reported (a source states it), Estimated, Derived (computed from other facts) or Rumored (in talks / unconfirmed). Rumors never replace a confirmed figure. Each figure keeps its own as-of date; history is preserved rather than overwritten.

How we verify data ·