# Arena

> AI evaluation platform behind Chatbot Arena / LMArena leaderboards.

## Why it is interesting

UC Berkeley research project turned commercial infra — crowdsourced human preference benchmarks became the gold standard for LLM evaluation at $1.7B valuation.

## Profile

- **Stage:** growth
- **Status:** private
- **Industries:** ai-ml, enterprise-saas
- **Coverage:** full
- **Last updated:** 2026-07-24

## Key facts

- Series A (Jan 2026): $150M at $1.7B valuation led by Felicis and UC Investments; a16z, Kleiner, Lightspeed participated (Reuters)
- Seed (May 2025): $100M led by a16z and UC Investments at $600M valuation (TechCrunch)
- Product: Chatbot Arena / LMArena — crowdsourced LLM preference rankings cited industry-wide (arena.ai)
- Co-investors not in VCT directory: Felicis, UC Investments, The House Fund, LDVP, Laude Ventures

## Investors in our directory

- https://venturecapitaltracker.com/fund/andreessen-horowitz
- https://venturecapitaltracker.com/fund/kleiner-perkins
- https://venturecapitaltracker.com/fund/lightspeed-venture-partners-nyc

## Related articles

- https://venturecapitaltracker.com/2026-a16z-hot-portfolio-companies

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Source: https://venturecapitaltracker.com/startup/arena