Ollama, the largest developer platform for open models, today announced a $65M Series B funding round led by Theory Ventures, with participation from Benchmark, 8VC, Y Combinator, Pace Capital, 49 Palms, GTMFund, and other investors and angels. The round brings Ollama's total funding to $88M. Benchmark led Ollama's Series A, with Peter Fenton joining the board. Ollama makes open models effortless to use with one command to run an open model locally or scale to the cloud.
Ollama raises $65M Series B led by Theory Ventures; total funding $88M.
8.9 million developers using Ollama; 67,000+ integrations.
Used within 85% of Fortune 500 companies.
Usage doubled since January; nearly 1 million new installs per week.
Distribution partner for Meta, Google DeepMind, Mistral, MiniMax, NVIDIA, Intel, AMD, Qualcomm.
Data never leaves user's machine when running locally.
Start local, scale in the cloud. Ollama provides the choice between local and cloud with no change in experience. If the machine is powerful enough, the model runs locally; if not, Ollama's cloud offers the same experience. Privacy is built in: Ollama does not train on user data, and when running locally, data never leaves the user's own machine. This enables use in regulated industries. Integrations connect to tools developers already use, with more than 67,000 community-built integrations on GitHub.
Jeffrey Morgan, CEO and Co-Founder of Ollama, stated: "Open models should be easy to run, easy to build with, and available wherever people need them — on your own machine, in the cloud, or both. Ollama started as an open-source project, and has since grown into a community of millions of developers. The future of AI is open models running everywhere work gets done — and Ollama is here to power this shift."
Tomasz Tunguz, General Partner at Theory Ventures, stated: "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. Jeff and Michael recognized that shift early on, and built Ollama to meet those people where they already work."
Peter Fenton, General Partner at Benchmark, added: "Open-weight models will generate the supermajority of tokens within the next 18 to 24 months. The Ollama team saw this inevitability early — and understood the needs it would create for developers. They've already attracted millions of builders, and this is still just the beginning."
Ollama is a distribution and early-access partner for the large majority of open model labs, including Meta, Google DeepMind, Mistral, and MiniMax, and for hardware companies including NVIDIA, Intel, AMD, and Qualcomm. Ollama users get day-zero access to new models and faster performance through deep hardware integration.
About Ollama
Ollama is the easiest way for developers to get up and running with open models. Ollama makes open models easy, efficient, and safe to use, whether they run locally on a user's own device or in Ollama's cloud, and plugs them directly into the tools developers already work with. With 8.9 million monthly active developers, more than 67,000 community-built integrations, and partnerships with every major model lab and hardware vendor, Ollama is the largest developer network in the open model ecosystem.
