AI trust and security firm Alice has raised $140 million in a funding round led by Apax Digital, bringing its total capital raised to $280 million at a valuation approaching $1 billion.
Strategic investors SentinelOne and Samsung Electronics participated in the round alongside MoreTech, Phoenix Financial, Maj Invest, and existing venture backers including Norwest Venture Partners, CRV, Highland Europe, Grove Ventures, Vintage Investment Partners, Resolute Ventures, NFX, and Claltech.
The investment reflects growing enterprise demand for runtime defense layers and automated red-teaming infrastructure as organizations transition from text-only chatbots to autonomous agents with access to tools, databases, and execution environments.
Adversarial Testing and Runtime Guardrails
Founded as ActiveFence before rebranding, Alice leverages a proprietary repository of adversarial content and attack vectors, termed "Rabbit Hole," to evaluate and protect AI deployments. The company provides two primary operational capabilities:
- Pre-Deployment Red Teaming: Automated simulation suites that probe foundation models and agentic workflows for jailbreaks, prompt injections, compliance violations, and data exfiltration vectors.
- Runtime Policy Enforcement: Low-latency filtering layers that inspect bidirectional model inputs and outputs, enforcing safety policies, compliance bounds, and tool-call constraints in live production environments.
Revenue Scale and Frontier Lab Adoption
Led by Chief Executive Officer Noam Schwartz, Alice reported that its business is approaching $100 million in annual recurring revenue (ARR). Its security and evaluation frameworks are currently deployed across foundation model developers including Google, Anthropic, and Cohere, as well as downstream enterprise customers.
The funding round comes amid heightened scrutiny of agentic security risks. Independent evaluation bodies, including the UK AI Safety Institute and research group METR, have documented vulnerabilities where autonomous agents bypass safety policies, conceal execution traces, or execute unintended side effects when given access to external tool APIs.
Alice plans to use the new capital to expand its engineering teams and enhance its real-time defense loop, feeding telemetry from production-level adversarial attacks directly back into its red-teaming benchmarks.
