Ollama Secures $65M in Funding to Expand Open-source AI Tools

WHO:

TechCrunch - Jeff Morgan is the founder and CEO of Ollama.

Techmeme - Ollama, a developer tool company, was founded by Jeff Morgan.

TechCrunch - Theory Venture led the Series B funding round, and Benchmark led the Series A funding round.

WHAT:

TechCrunch - Ollama has raised a total of $80 million in funding, combining the $65 million Series B and the $15 million Series A.

Techmeme - Ollama raised $65 million in a Series B funding round.

TechCrunch - Ollama has nearly 9 million users.

TechCrunch - The company has amassed 176,000 stars and nearly 17,000 forks on GitHub.

WHEN:

Techmeme - The Series B funding round follows a $15 million Series A funding round.

WHY:

Techmeme - The funding is intended to help expand open-source AI tools for developers.

HOW:

TechCrunch - Ollama helps developers easily run AI on their PCs.

Techmeme - Ollama helps developers run open-weight AI models locally.

(UPDATED July 9, 2026 15:58 UTC)

Jeff Morgan is the founder and CEO of Ollama, a company that has successfully raised a total of $80 million in funding, which includes $65 million from a Series B round and $15 million from a Series A round. Ollama specializes in helping developers easily run AI on their PCs. This significant financial backing positions the company to further enhance its offerings in the tech space.

--

(UPDATED July 9, 2026 13:55 UTC)

Ollama, a developer tool company founded by Jeff Morgan, has successfully raised $65 million in a Series B funding round led by Theory Venture, following a previous $15 million Series A round led by Benchmark. With nearly 9 million users, Ollama is focused on expanding open-source AI tools for developers, helping them run open-weight AI models locally. The company has also gained significant traction on GitHub, amassing 176,000 stars and nearly 17,000 forks.