Ollama

Summary active Updated Jul 9, 2026

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Location Palo Alto, CA
Founded 2023
Latest Stage Series B
Total Raised $88M (through Series B, 2026-07-09)
Website https://ollama.com
Sector
developer-tools ai open-source infrastructure ai-infrastructure

Investors

Peter Fenton series-a (2024)
Peter Fenton series-b (2026)
Tomasz Tunguz series-b (2026)
Solomon Hykes series-b (2026)
Bryan Offutt Seed (2021)
Benchmark series-a (2024)
Benchmark series-b (2026)
8VC series-b (2026)
Y Combinator pre-seed (2023)
Garage Capital pre-seed (2023)
Hanabi Capital Seed (2021)
theory-ventures Series B ($65M, led — Theory Ventures) — Tunguz personally attributed as Theory partner in company announcement (2026)
dagger Series B ($65M, angel participant; Theory Ventures led) (2026)

Founders

Jeffrey Morgan Co-Founder & CEO
Michael Chiang Co-Founder

About

Ollama is an open-source developer platform for running large language models locally on personal computers, founded in 2023 by Jeffrey Morgan and Michael Chiang 12. The company describes its mission as extending the “personal computer moment” to AI — making open models runnable on developer hardware with a focus on ownership, affordability, and privacy 2. As of July 2026, Ollama says the platform serves 8.9 million monthly active developers, has been starred ~176,000 times on GitHub, and is used by 85% of Fortune 500 companies 12. The company remains lean, with roughly 14 employees 1.

On 2026-07-09 Ollama announced a $65M Series B round led by Theory Ventures, bringing total funding to $88M across all rounds 12. Existing investor Benchmark (which led the $15M Series A in 2024) participated, and 8VC also joined 12. Ollama’s own announcement additionally names Solomon Hykes (Docker founder / Dagger CEO), Aaron Katz (ClickHouse CEO), Spencer Kimball (Cockroach Labs co-founder), Quinn Slack (Amp CEO), Marianna Tessel, and Michael Montano as participating angels, and lists Y Combinator, Garage Capital, Pace Capital, 49 Palms, and GTMFund among backers to date 2.

Disclaimer: This is a lean profile built from initial round coverage and may be expanded as more information becomes available.

Funding History

Date Round Amount Lead Co-investors
2023 Pre-Seed $125K Y Combinator Garage Capital 3
2024 Series A $15M Benchmark (Peter Fenton) 1
2026-07-09 Series B $65M Theory Ventures (Tomasz Tunguz) Benchmark, 8VC (Alex Kolicich), Solomon Hykes, Aaron Katz, Spencer Kimball, Quinn Slack, Marianna Tessel, Michael Montano 12

What Investors Say

Peter Fenton, General Partner at Benchmark: “The creative powers to create a product that goes to ubiquity for developers is extremely rare.” 1

What Founders Say

Jeffrey Morgan, Co-Founder & CEO: “Open models started coming out in 2023 but they were really hard to use.” 1

Sources

  1. Rebecca Bellan, “Popular open-source AI developer tool Ollama raises $65M, grows to nearly 9M users,” TechCrunch, July 9, 2026. Accessed July 9, 2026. https://techcrunch.com/2026/07/09/popular-open-source-ai-developer-tool-ollama-raises-65m-grows-to-nearly-9m-users/↩↩↩↩↩↩↩↩↩

  2. Ollama, “Ollama: all aboard open models,” Ollama Blog, July 9, 2026. Accessed July 9, 2026. https://ollama.com/blog/all-aboard-open-models↩↩↩↩↩↩↩

  3. “Ollama - Crunchbase Company Profile & Funding,” Crunchbase, accessed July 9, 2026. https://www.crunchbase.com/organization/ollama↩