Ollama has secured $65 million in Series B funding led by Theory Ventures, bringing total funding to $88 million. The AI tool, aimed at simplifying the use of open-weight AI models for developers, has rapidly grown to 8.9 million monthly users and is utilized by 85% of Fortune 500 companies.
Ollama announced it has completed a $65 million Series B funding round, led by Theory Ventures.
This funding follows a $15 million Series A round led by Benchmark, bringing total funding to $88 million.
Launched in 2023, Ollama facilitates developers running open-weight AI models efficiently on local machines.
It features models hosted on neocloud, available through various subscription tiers, tracking usage based on GPU time.
The platform has gained significant traction, now serving approximately 8.9 million users each month.
It is reportedly utilized by 85% of Fortune 500 companies, highlighting its widespread adoption.
Co-founders Jeff Morgan and Michael Chiang previously developed Docker Desktop, which revolutionized cloud application deployment.
They aim to simplify AI model usage for developers, much like Docker did for cloud computing.
Morgan cites January's growth in open models with capabilities for practical tasks, such as coding, as a key moment for the business.
The industry is increasingly recognizing the potential of open-weight models in real-world applications.
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Ollama has secured $65 million in Series B funding led by Theory Ventures, bringing total funding to $88 million. The AI tool, aimed at simplifying the use of open-weight AI models for developers, has rapidly grown to 8.9 million monthly users and is utilized by 85% of Fortune 500 companies.