Arena Expands Partnership with Felicis Ventures as AI Evaluation Platform Scales to $3.1B Valuation

Arena, the AI evaluation platform that has become the industry standard for benchmarking model performance, announced continued partnership with Felicis Ventures as it closed a $200 million Series B at a $3.1 billion valuation in October 2026. The funding round was co-led by Lightspeed Venture Partners and Khosla Ventures, with participation from Salesforce Ventures, 01 Advisors, Dell Technologies Capital, and Endeavor Catalyst. Felicis, which led Arena's $150 million Series A in January 2026 at a $1.7 billion valuation, participated in the new round, marking its continued confidence in the company's mission.