Ollama raised a $65 million Series B led by Theory Ventures, taking total funding to $88 million.
Just 14 employees run a platform Ollama says serves 8.9 million developers a month across 85% of the Fortune 500.
The raise comes roughly a year after parts of the developer community accused Ollama of enshittification for pushing its paid cloud tier.
Ollama, the Palo Alto-based developer platform for open-weight AI models, has raised a $65 million Series B led by Theory Ventures. Benchmark, 8VC, Y Combinator, Pace Capital, 49 Palms and GTMFund also joined, bringing the company’s total funding to $88 million. The round follows a $15 million Series A that Benchmark’s Peter Fenton led; Fenton now sits on Ollama’s board.
14 people built the tool that, by its own count, 8.9 million developers open every month. That ratio, not the funding figure attached to it, is the real story behind Ollama‘s new round.
