The open-source model tool said total funding has reached $88 million, serving 8.9 million developers and 85% of Fortune 500 firms as it expands hybrid local-cloud inference and team services.
Ollama has raised $65 million in a Series B round led by Theory Ventures, with Benchmark, 8VC and Y Combinator participating, as investor interest builds around tools that let developers run open-source AI models locally as well as across hybrid local-cloud setups. The company said total funding now stands at $88 million. The open-source software is designed to help developers download and run models such as Meta’s Llama series and Mistral releases directly on laptops and other machines with minimal setup, reducing dependence on API keys, recurring usage charges and third-party data handling. Ollama said it serves 8.9 million developers and is used by 85% of Fortune 500 firms. The new funding is earmarked for hybrid local-cloud inference, day-one support for new models and team cloud services. Ollama operates in a competitive market alongside tools such as vLLM and Apple’s MLX framework, while also showing up in some onchain AI agent projects such as Shinkai, which uses Ollama to power agents that can carry out tasks and process USDC payments on-chain.