Arena raises $200M at $3.1B valuation, nearly doubling in 10 months

Arena, the crowdsourced AI model leaderboard that started as a UC Berkeley research project, raised a $200 million Series B at a $3.1 billion valuation, led by Lightspeed Venture Partners and Khosla Ventures.

The company said it reached $100 million in annualized run-rate revenue in June, up from $30 million when it raised its $150 million Series A in January at a $1.7 billion post-money valuation.