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Alice raises $140M to secure AI systems, with Phoenix Insurance involved
The funding round led by Apax Digital brings Alice to $280M total funding, while Phoenix Insurance is also partnering with a carmaker on AI fraud and vehicle insurance.
Alice, a company that helps AI labs and enterprises test, defend, and monitor AI systems against misuse, manipulation, and cyberattacks, raised $140 million in a funding round led by Apax Digital. The round brings Alice total funding to $280 million, the company said, and the firm is nearing $100 million in annual recurring revenue.
The company works with eight of the 10 leading AI model labs, naming Anthropic, Google, and Cohere among its customers. Alice said its AI business has grown more than 500% over the past two years.
The round also included Samsung, SentinelOne, Maj Invest, MoreTech, and Phoenix Insurance Company, alongside existing investors. Elsewhere in the same announcement, the companies said a collaboration between a carmaker, Phoenix, and a fraud protection product called nSure aims to better understand vehicle capabilities so an insurance offering meets car industry standards.