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Canadian-founded startup Ollama raised $65 million USD in a Series B round, bringing its total funding to $88 million. The company plans to use this capital for product development, acquiring computing power, and making key hires. Ollama specializes in providing developers with an open platform that allows them to download and run large language models (LLMs) directly on local machines or within cloud environments.
The firm framed its mission around the concept of AI reaching a "personal computer moment." Co-founder and CEO Jeff Morgan compared this shift to the transition from mainframes to personal computers, arguing that computing is becoming decentralized and accessible. Ollama's platform facilitates this by enabling developers to interact with open-source LLMs without relying solely on proprietary cloud APIs.
Ollama's focus on local LLM deployment positions it as a key infrastructure player for developers seeking open, decentralized AI tooling.
The company reported significant growth metrics since launching in 2023, claiming nearly nine million customers and usage among 85 percent of the Fortune 500. Morgan stated that Ollama is organically adding around 100,000 users every week. The funding round was led by US investor Theory Ventures, with participation from existing backers including Benchmark, Y Combinator, Garage Capital, and GTMfund.
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