Ollama Raises $65M in Series B Funding Led by Theory Ventures

The round also saw participation from Benchmark, 8VC, Y Combinator, Pace Capital, 49 Palms, GTMFund, and other investors and angels.

The company will use the funding to improve its products, grow its open-source developer community, expand its cloud computing infrastructure, and hire more employees.

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Ollama makes it easy for developers to run and use open AI models. With a single command, developers can run models on their own computers and later scale to larger, more powerful models through Ollama's cloud platform.

The platform is used by 8.9 million developers and supports more than 67,000 integrations, making it one of the largest open-model developer communities. Ollama is also used by 85% of Fortune 500 companies, including organizations in government, healthcare, and financial services.

Ollama lets developers start by running AI models on their own computers and easily scale to the cloud when they need more computing power. The experience stays the same whether a model runs locally or in the cloud, with no extra setup, new accounts, or API changes. This helps reduce AI costs while delivering fast performance for both simple and demanding tasks.

Privacy is a key part of the platform. Ollama does not use customer data to train its models, and when models run locally, data never leaves the user's device. This makes the platform suitable for businesses in regulated industries that need strong data security and privacy.

"Every era of computing has had a platform layer that everything else plugs into. As open models close the gap for most real work, the platform where AI runs becomes one of the most valuable positions in software," said Tomasz Tunguz, General Partner at Theory Ventures. “That market is expanding fast: AI is making software creation more accessible, and every professional can now build their own workflows and tools.

“Open-weight models will generate the supermajority of tokens within the next 18 to 24 months,” said Peter Fenton, General Partner at Benchmark. “The Ollama team saw this inevitability early — and understood the needs it would create for developers looking to discover, experiment with, and ultimately run these models at scale.

About Ollama

Founded in 2023 by Jeffrey Morgan and Michael Chiang, Ollama is a platform that makes it easy for developers to use open AI models. Developers can run models on their own devices or in Ollama's cloud, with the same simple experience. The platform also integrates with the tools developers already use, making AI easier, more efficient, and more secure to deploy.

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