Ollama raises $65 million as local open-model tooling scales

TechCrunch reports that Ollama raised a $65 million Series B led by Theory Ventures, following an earlier $15 million Series A from Benchmark. Ollama helps developers run open-weight AI models locally and through hosted tiers, and the company says it has nearly 9 million monthly developers, 176,000 GitHub stars, and use inside most Fortune 500 companies. The round shows investor demand around open-model tooling, not just frontier-model labs.

Key details: Ollama raised a $65 million Series B led by Theory Ventures, The company says it reaches nearly 9 million monthly developers, Ollama helps developers run open-weight models locally and through hosted tiers.

Why it matters: Open-weight model adoption is creating venture-scale developer infrastructure companies outside the closed frontier-lab stack.