Arena Intelligence, a US-based startup that evaluates AI models, has raised US$200 million at a US$3.1 billion valuation. The startup plans to launch an alignment leaderboard as demand grows for tools that assess AI performance and risks.

The startup grew out of Chatbot Arena, a research project from the University of California, Berkeley’s Sky Computing Lab, which lets users compare and rank AI model responses. The project became a company in 2025.

Lightspeed Venture Partners and Khosla Ventures led the funding round. Salesforce Ventures and Dell Technologies Capital also joined.

Arena was previously valued at US$1.7 billion in a January funding round.

Its planned Alignment Index will initially include more than two dozen AI models and will use data from user conversations on Arena’s Agent Arena platform.

Co-founder and CEO Anastasios Angelopoulos said the index will track signals including unauthorized actions and false claims that a task was completed.

🔗 Source: Bloomberg