Alice, an AI trust, safety and security company formerly known as ActiveFence, has raised $140 million in a funding round led by the Apax Digital Funds, taking the company’s total funding to $280 million. The latest investment comes as demand grows for technologies designed to secure AI models and systems as enterprises increasingly deploy AI across their operations.
The funding round also saw participation from MoreTech and Phoenix Financial, along with existing investors including Resolute Ventures, Grove Ventures, CRV, Highland Europe, Vintage Investments, Norwest, NFX and Claltech. As part of the transaction, Apax Digital will join Alice’s board.
The company is approaching $100 million in annual recurring revenue (ARR), while its AI business has grown by more than 500% over the past two years. Alice said it currently works with eight of the 10 leading AI model labs and that its technology protects more than 3 billion people online across major platforms.
Funding to Expand AI Security Capabilities
Alice plans to use the new capital to further develop its AI security platform, expand the research team behind its proprietary Rabbit Hole dataset, and scale its go-to-market organisation serving foundation-model developers and enterprises building with AI.
The company’s platform is designed to address security throughout the AI lifecycle. Before AI models are released, Alice works with model developers to simulate malicious prompts and agentic tasks to identify vulnerabilities and unpredictable behaviour. These assessments cover issues including jailbreaks and prompt injection.
Once AI systems are deployed, Alice provides tools that allow enterprises to establish organisation-specific policies, simulate attacks, identify compliance and data-security risks, and monitor model inputs and outputs in real time. This approach is intended to address the difference between the safeguards built into general-purpose AI models and the specific requirements of individual organisations.
Rabbit Hole Dataset Supports AI Security Research
Alice’s security capabilities are built on nearly a decade of tracking fraud, extremism, coordinated manipulation and other adversarial activity across digital platforms. This work resulted in Rabbit Hole, the company’s proprietary dataset of real-world adversarial and harmful content.
The dataset allows Alice to identify attack patterns that have previously appeared across digital platforms and apply that intelligence to AI security. The company operates an AI security research lab with more than 150 researchers studying how AI systems can be manipulated, fail or behave outside their intended boundaries.
Alice’s technology is also used across platforms including Google, Meta, TikTok and Amazon, while the company works with AI model developers including Anthropic, Google and Cohere.
Addressing the Growing AI Security Challenge
The latest funding comes as businesses increasingly move beyond basic AI applications and give AI systems access to corporate data, software tools and autonomous capabilities. As these systems gain greater ability to act independently, the potential consequences of security failures and unintended behaviour also increase.
Alice’s approach is built around continuously improving its security capabilities. Attacks identified in real-world environments can inform security tests, while those tests can help refine safeguards and monitoring systems. The company is positioning this feedback loop as a way to keep its defences aligned with evolving attack techniques.
With its latest $140 million funding round, growing AI business and ARR approaching $100 million, Alice is expanding its technology, research and commercial capabilities as AI security becomes an increasingly important requirement for both AI developers and enterprises.
