Ollama, the popular open-source AI developer tool, has raised a $65 million Series B round led by Theory Ventures, bringing its total funding to $88 million. The tool, which helps developers run open-weight AI models on their PCs in minutes, has grown to nearly 9 million monthly users and is used by 85% of the Fortune 500, all with only 14 employees. Ollama also offers access to larger models via subscription tiers and tracks usage based on GPU time. Founder and CEO Jeff Morgan, who previously helped build Docker Desktop, says the proving point for Ollama as a business came when larger open models became capable of agentic tasks like coding. Benchmark's Peter Fenton, who led the earlier Series A, noted that the ability to create a product that achieves ubiquity among developers is extremely rare. The company's growth reflects the industry trend of enterprises increasingly turning to more affordable open models while reserving closed models for specific needs.
AI-Powered News Curation