Ollama Raises $65M Series B
Ollama, based in Palo Alto, California, is a developer platform for open-source AI models that announced a $65M Series B funding round. This latest investment brings the company's total funding to $88M to support its mission of making open models efficient and accessible for developers across local and cloud environments.
The round was led by Theory Ventures. Additional participating investors include Benchmark, 8VC, Y Combinator, Pace Capital, 49 Palms, GTMFund, and various other investors and angels.
Ollama plans to use the new capital to continue investing in its product and open-source developer community, scale its cloud compute footprint, and bring on key hires.
Founded in 2023 by Jeffrey Morgan and Michael Chiang, Ollama provides a platform that enables developers to run open models locally or in the cloud with ease. The company has built an extensive network with over 8.9 million developers and 67,000 integrations, serving as a critical infrastructure layer for enterprises and individuals using AI models.
Funding Details
Company Website: https://ollama.com
Company: Ollama
Raised: $65M
Round: Series B
Funding Date: July 9, 2026
Lead Investor: Theory Ventures
Additional Investors: Benchmark, 8VC, Y Combinator, Pace Capital, 49 Palms, GTMFund
Company Website: https://ollama.com
Software Category: Artificial Intelligence