PALO ALTO, Calif.: Ollama closes a $65 million Series B led by Theory Ventures. The number worth staring at, though, is fourteen. That’s the entire headcount.
Those 14 people run a platform that 8.9 million developers open every month. Usage has doubled since January. Installs are running close to a million a week, and the tool now sits inside 85% of the Fortune 500, including banks, hospitals, and government agencies.
Also read: Together AI Raises $800M Series C at $8.3B Valuation
The July 9 round brings total funding to $88 million. Benchmark, 8VC, Y Combinator, Pace Capital, 49 Palms, and GTMFund all join. The angel list reads like an infrastructure hall of fame: Docker founder Solomon Hykes, ClickHouse CEO Aaron Katz, Cockroach Labs’ Spencer Kimball. Valuation stays undisclosed.
Ollama’s product is almost aggressively simple. One terminal command pulls an open-weight model such as Llama, DeepSeek, Gemma, or Qwen and runs it on your own laptop or server. No cloud API, no per-token bill, no prompt leaving the building. More than 67,000 community integrations plug it into coding assistants and agents.
Also read: Google Releases Gemma 4 12B Open AI Model Designed for Laptops
Founders Jeff Morgan and Michael Chiang built Docker Desktop before this, which explains a lot. Benchmark’s Peter Fenton, who led the Series A and sits on the board, states the thesis plainly: “Open-weight models will generate the supermajority of tokens” within two years.
The contrast with rivals is stark. Hugging Face has raised over $395 million. Together AI just took $800 million at $8.3 billion. Ollama’s $88 million total is a rounding error next to either, yet it claims the largest developer network in the open-model world.
Not everyone cheers. Parts of the community accused Ollama of enshittification last year over its paid cloud tier. The Fortune 500 apparently disagrees.
Previous
