LM Arena
LA
Arena (formerly LMArena / Chatbot Arena) runs crowdsourced leaderboards that rank AI models via head-to-head human votes. It makes money through a paid AI Evaluations service, launched September 2025, that model labs and enterprises hire to benchmark their models against its community.
Blended valuation$3.1B
Valuation history
Weekly blended valuation with priced funding rounds marked on the timeline.
$3.2B
blended valuationfunding round
Jun 22, 2026$1.5BOct 5, 2026
All rounds
3 funding rounds, newest first.
| Round | Announced | Raised | Post-money |
|---|---|---|---|
| Series B | Oct 9, 2026 | $200M | $3.1B |
| Series A | Jan 6, 2026 | $150M | $1.7B |
| Seed | May 21, 2025 | $100M | $600M |
Investors
17 investors across all rounds.
- AHAndreessen Horowitz
- FEFelicis
- LVLightspeed Venture Partners
- KVKhosla Ventures
- THThe House Fund
- KPKleiner Perkins
- 0A01 Advisors
- DTDell Technologies Capital
- ECEndeavor Catalyst
- SVSalesforce Ventures
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Data as of Oct 16, 2026. Valuations are estimates blended from primary and secondary-market signals — not investment advice.