Alice, the AI trust, safety and security company formerly known as ActiveFence, raised $140m in a round led by Apax Digital Funds, it announced on 25 August 2026. The round brings its total funding to $280m, and Apax Digital will join the board.
Alice did not state a valuation. Globes reported $800m, citing unnamed sources, and The Next Web said Calcalist reported $700m to $800m while Schwartz told Bloomberg it was close to $1bn.
“There are infinite ways to break an AI, and you can't defend against something you've never seen”Noam Schwartz, CEO and co-founder, Alice
What Alice does
Alice tests, defends and monitors AI models and applications. It says it works with eight of the 10 leading AI model labs, including Anthropic, Google and Cohere, and protects more than 3 billion people online on platforms including Google, Meta, TikTok and Amazon.
The company was founded in 2018 and has offices in New York and Tel Aviv. Globes put its headcount at about 400, most of them in Israel, with the rest in New York, London and Hanoi. Its AI security research lab has more than 150 researchers.
Chief executive and co-founder Noam Schwartz said: "There are infinite ways to break an AI, and you can't defend against something you've never seen."
According to The Next Web, Alice red-teams AI models before release by simulating malicious prompts and agentic tasks to probe for jailbreaks and prompt injection. After launch it helps enterprises add their own policies on top of the model labs' guardrails, run simulated attacks to find data leaks and compliance gaps, and monitor inputs and outputs in real time.
Its Rabbit Hole dataset is described by the company as the largest body of real-world adversarial and harmful content anywhere, built since 2018 by tracking fraud, extremism, manipulation and cyberattacks on the open web.
Revenue and use of funds
Alice said annual recurring revenue is approaching $100m, and that its AI business has grown by more than 500% over the past two years. Those are company figures.
The funds will advance the platform, expand the team behind its Rabbit Hole dataset and scale go-to-market operations.
Who invested
New investors are Apax Digital, Samsung, SentinelOne, Maj Invest, MoreTech and Phoenix Financial. Existing investors Resolute Ventures, Grove Ventures, CRV, Highland Europe, Vintage Investments, Norwest Venture Partners, NFX and Claltech also took part.
Patrick Kane, a partner at Apax Digital, said the firm is excited to partner with Schwartz and the team as Alice defines the category. Eric Levine, a vice president at Apax Digital, said the loop gets stronger with every observed attack and every new customer.
The funding so far
Alice's total of $280m implies about $140m raised before this round, but the sources opened for this article do not itemise earlier rounds.
The Next Web said the company renamed itself Alice in January, after the Lewis Carroll character, and shifted from content moderation to securing AI models directly. It was founded in 2018 by Noam Schwartz, Iftach Orr, Alon Porat and Eyal Dykan and raised $100m in 2021, at an undisclosed valuation.
Company website: alice.io