Ollama, the largest developer platform for open models, has closed a $65 million Series B led by Theory Ventures, with participation from Benchmark, 8VC, Y Combinator, Pace Capital, 49 Palms, and GTMFund. The round pushes Ollama's total funding to $88 million and arrives as the platform's developer base has nearly doubled in six months.
How Ollama Works
Ollama lets developers run an open model with a single command, working locally on their own hardware before scaling seamlessly to larger models in Ollama's cloud with no configuration change and no new API to wire up. That simplicity has made Ollama the largest network in the open-model ecosystem, with 8.9 million developers and over 67,000 community-built integrations.
Privacy is central to the platform: Ollama does not train on user data, and when models run locally, data never leaves the user's machine — a design that has driven adoption within 85% of the Fortune 500, including customers in government, healthcare, and finance.
Ollama is also an early-access and distribution partner for most major open model labs, including Meta, Google DeepMind, Mistral, and MiniMax, and for hardware makers such as NVIDIA, Intel, AMD, and Qualcomm, giving users day-zero access to new models and deep hardware performance gains.
"Open models should be easy to run, easy to build with, and available wherever people need them. The future of AI is open models running everywhere work gets done — and Ollama is here to power this shift."— Jeffrey Morgan, CEO & Co-Founder, Ollama
Explosive Customer Growth
Ollama's developer base has doubled since January to 8.9 million, with the platform adding nearly one million new installs per week. Much of that growth is coming from professional developers using open models for coding and running agents for daily task automation, with adoption now expanding from individual builders into full teams.