Ollama Completes $65M Series B Funding to Enhance Open-Source Model Usability

Chainthink

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Summary

On July 9, 2026, Ollama announced $65 million in project funding, led by Theory Ventures with support from Benchmark, 8VC, and Y Combinator. Total funding now amounts to $88 million. The open-source model tool enables developers to run models locally and integrate them via APIs, serving 8.9 million developers and being adopted by 85% of Fortune 500 companies. Cloud token usage has grown over 200% month-over-month. The new funds will accelerate hybrid inference, model onboarding, and cloud expansion. On-chain news continues to underscore major advancements in the AI and open-source ecosystems.

ChainThink reports that on July 9, according to related reports, the open-source model tool Ollama completed a $65 million Series B round led by Theory Ventures, with participation from Benchmark, 8VC, Y Combinator, and others, bringing its total funding to $88 million.

Ollama provides tools for developers to run open-source models locally and offers an API for integration into applications. The company states that it currently serves 8.9 million developers and is used by 85% of Fortune 500 companies.

The company also stated that its cloud service token usage has more than doubled on average each month. The new funding will be used to advance hybrid local and cloud inference, enable first-day support for new models, and expand the team’s cloud capabilities.

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