Funding Alert: Arena Raises $200M Series B
Arena closed a $200M Series B at a $3.1B valuation, nearly double where it stood ten months ago, co-led by Lightspeed Venture Partners and Khosla Ventures. The signal: once models can recognize they're being tested, static benchmarks stop telling the truth, and a third-party, real-time, human-judged evaluation layer becomes a business of its own.