Ollama, founded in 2023 by Jeff Morgan and Michael Chiang, provides an open-source AI tool that enables developers to run open-weight AI models on PCs.
It announced a $65M Series B funding round led by Theory Ventures, following a $15M Series A led by Benchmark, bringing its total funding to $88M.
The platform has attracted 176,000 stars and 17,000 forks on GitHub and is now used by over 8.9 million developers monthly, including teams in 85% of the Fortune 500 companies.
The company has scaled this adoption with just 14 employees. Its subscription model, which ranges from free to $100/month, is based on GPU usage rather than token limits, appealing to cost-conscious enterprises.
Ollama's mission aligns with the growing trend of enterprises shifting towards open-weight AI models to reduce inference costs.