Open-source AI platform Ollama has closed a $65 million Series B round led by Theory Ventures, bringing its total funding to $88 million. The company says the new capital will support its expanding ecosystem for developers working with open-weight models.
Founded in 2023, Ollama is designed to help programmers run AI models locally on their own computers within minutes. The platform has gained strong traction in the developer community, with nearly 8.9 million monthly users, a large presence inside Fortune 500 companies, and a growing footprint on GitHub.
Beyond its desktop tool, Ollama also offers hosted access to larger models through subscription plans ranging from free access to premium tiers. Its pricing model is based on GPU usage, giving teams a flexible way to scale AI workloads without relying only on token-based limits.
The company's approach reflects a broader shift in AI development: more teams are combining local, open-weight tools with cloud-based services to balance speed, cost, and control. With a lean team and rising demand, Ollama is becoming a notable example of how open-source projects can evolve into durable businesses.
As open AI tools continue to mature, platforms like Ollama may help shape a future where advanced model access becomes more practical, distributed, and developer-friendly.
