Artificial intelligence (AI) start-up LMArena has achieved a US$1.7 billion valuation after raising US$150 million in new funding.
The funding was led by Felicis and UC Investments (University of California), with participation from Andreessen Horowitz, The House Fund, LDVP, Kleiner Perkins, Lightspeed Venture Partners and Laude Ventures.
"We're leading this round because LMArena has built the most trusted, reliable, real-world signal of AI performance,” Felicis General Partner Peter Deng said.
“They have become essential infrastructure for every lab and enterprise."
LMArena co-founder and CEO Anastasios Angelopoulos said the funding would accelerate the scientific work and community insights that made live evaluation from real users the gold standard for assessing AI in practice.
"We cannot deploy AI responsibly without knowing how it delivers value to humans," Angelopoulos said.
“Our evaluations use a transparent, open-source methodology to make these insights public for everyone.”
The company has more than five million users in 150 countries after launching in September 2025.
LMArena's annualised consumption run rate surpassed $30 million in December, less than four months after launching its AI evaluation product.
In a funding round last May, the company raised US$100 million at the seed-round level, led by a16z UC Investments.
