Ollama has completed a $65 million Series B funding round to make the open-source model more user-friendly

According to DappRadar, the open-source model tool Ollama has completed a $65 million Series B funding round. The round was led by Theory Ventures, with participation from Benchmark, 8VC, Y Combinator, and others. Ollama's total funding now stands at $88 million.

Ollama's core functionality is simple: to allow developers to run open-source models locally with a single command. It also provides an API for developers to integrate the models into their applications.

Officially, Ollama currently serves 8.9 million developers and is used by 85% of the Fortune 500 companies. Its cloud services are also growing, with token usage doubling monthly on average.

The new funding will be used for three purposes: local and cloud hybrid inference, Day One support for new models, and team cloud services.