Ollama Raises $65M Series B, Now at 8.9 Million Developers
Theory Ventures led the round; Benchmark returned after backing the Series A. The platform doubled its developer count since January and adds nearly 1 million new installs each week.
Ollama Series B closed at $65 million today, led by Theory Ventures with Benchmark, 8VC, Y Combinator, and Pace Capital among the participants. Total funding reaches $88 million. Active developers on the platform hit 8.9 million - a count that doubled since January - with nearly one million new installs arriving each week.
One Command, Local or Cloud
Ollama lets developers run any open model with a single terminal command. On capable hardware, the model runs locally. When hardware runs short, Ollama's cloud handles the same request through the same API - no code changes, no new configuration. Data never leaves the machine in local mode, and Ollama does not train on user data in either case. That combination has driven adoption inside 85% of Fortune 500 companies, including customers in healthcare, finance, and government.
"Open models should be easy to run, easy to build with, and available wherever people need them - on your own machine, in the cloud, or both." - Jeffrey Morgan, CEO and co-founder, Ollama
Who Backed It and Why
Theory Ventures led the Ollama Series B. Benchmark returns. Peter Fenton, general partner at Benchmark, joins the board as part of the deal. 8VC, Y Combinator, Pace Capital, 49 Palms, and GTMFund also participated, rounding out one of the larger open-model infrastructure rounds of the year.
"Every era of computing has had a platform layer that everything else plugs into," said Tomasz Tunguz, general partner at Theory Ventures. "As open models close the gap for most real work, the platform where AI runs becomes one of the most valuable positions in software."
Benchmark's Peter Fenton put the timeline bluntly: open-weight models will generate "the supermajority of tokens within the next 18 to 24 months." That forecast explains why infrastructure capital is rushing in now. Together AI raised $800 million in March to run open-source models at enterprise scale - Ollama and Together are building toward the same open-model future from different positions.
67,000 Integrations and Day-Zero Model Access
Over 67,000 community integrations exist on GitHub. Coding agents, document workflows, and personal assistants all built on top. Ollama holds distribution and early-access partnerships with Meta, Google DeepMind, Mistral, MiniMax, NVIDIA, Intel, AMD, and Qualcomm - giving developers day-zero access when any major model ships. GitHub Copilot's first metered billing cycle caught developers off guard with unexpected token costs; running smaller open models locally through Ollama eliminates that exposure for routine tasks.
Ollama plans to expand its cloud compute footprint, grow the open-source community program, and hire with the Ollama Series B capital. Ollama disclosed no valuation. For teams watching the cost of running large language models at agentic scale, the local-first option just got considerably better funded.