Ollama raises $65M Series B
Theory Ventures led Ollama's $65M Series B as the local-model platform reaches 8.9M monthly developers and 67,000-plus community integrations.
Ollama closed a $65 million Series B on July 9, led by Theory Ventures. Benchmark (Series A lead), 8VC, Y Combinator, Pace Capital, 49 Palms, and GTMFund also participated. Total raised is now $88 million across three years and 14 employees.
The numbers the company put out alongside the round: 8.9 million monthly active developers, 67,000-plus integrations in the open-model ecosystem, deployment inside 85% of the Fortune 500 including regulated sectors like government, healthcare, and finance. Ollama’s cloud is doubling token volume month over month.
Founders Jeff Morgan and Michael Chiang previously built Kitematic, a container tool Docker acquired in 2015 that became Docker Desktop and reached 10 million developers. The model is the same: one command to run an open-weight model locally on any hardware, scale to cloud from there.
Tomasz Tunguz of Theory Ventures called the platform layer for AI “one of the most valuable positions in software.” Peter Fenton of Benchmark said open-weight models will produce “the supermajority of tokens within the next 18 to 24 months.”
What it means for you
The Fortune 500 and regulated-industry numbers are the headline. Data-residency and air-gap requirements are pulling open-model infrastructure into compliance-heavy sectors ahead of what most projections suggested. If you have not evaluated whether open models can carry your production workload, this round is a reasonable prompt. The solo operator AI stack guide covers practical starting points, and Ollama 0.31’s Gemma 4 speed improvements on Apple Silicon show where local performance stands today.