Open source AI tool Ollama raises $65 million in funding
Technology company Ollama, which provides open source AI tools for developers, has raised $65 million in a funding round led by Theory Venture.
Technology firm Ollama, a provider of open source AI tools for developers, has secured $65 million in a Series B funding round. The investment was led by Theory Venture, with founder and CEO Jeff Morgan confirming the news to TechCrunch. This brings Ollama's total funding to $88 million, including a prior $15 million Series A round led by Benchmark.
Launched in 2023, Ollama aims to simplify the process for developers to run AI models locally on their personal computers. The tool has garnered significant adoption within the developer community, reaching nearly 9 million users. On GitHub, the project has accumulated 176,000 stars and close to 17,000 forks, indicating strong community engagement.
Ollama also offers capabilities for discovering and accessing larger, more complex AI models through its cloud service. The platform provides tiered subscription options, ranging from free access to plans costing up to $100 per month. Usage-based billing and GPU utilization tracking are also part of the company's service offerings.