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Ollama

ACTIVE
Ollama Inc.
StartupOpen source organization
Ollama Inc.ollama

American company from Palo Alto behind the open-source Ollama runtime for running large language models locally and in the cloud. Founded in 2023 by Jeffrey Morgan and Michael Chiang (previously Docker Desktop via Kitematic). Closed a $65M Series B round in July 2026.

Founded2023United States
HQPalo AltoUnited States
Total funding$65125B2 · 2021–2026
ValuationNot publicly disclosed after the July 2026 Series B
ollama.comLinkedInXGitHubCrunchbaseWikipedia
01 · About

Ollama

Founded 2023 · Palo Alto, United States

Ollama Inc. is an American technology company headquartered in Palo Alto (California), founded in 2023 by Jeffrey Morgan (CEO) and Michael Chiang, both Y Combinator alumni. The company builds and maintains the open-source Ollama project (MIT License) — the most popular way to run large language models locally on the user's machine.

The project first launched on July 7, 2023. By July 2026 it had grown a community of 9 million active developers who use Ollama to run models like Llama, Mistral, Qwen, Gemma, DeepSeek, gpt-oss and many others locally. Ollama provides a command-line interface, a native desktop app, a local REST API (port 11434 by default), and Python and JavaScript client libraries.

The business model combines open source with commercial services: Ollama Cloud offers access to larger models on datacenter-grade hardware in the US, Europe and Singapore regions with a zero data retention guarantee. In July 2026 the company announced a $65M Series B round led by Theory Ventures, raised alongside a milestone of 9 million active developers.

Founders

  • Jeffrey Morgan

    Co-founder & CEO

    Software engineer, previously co-built Docker Desktop (through Docker acquisition of the Kitematic startup). Originator of Ollama — a project that brought the docker pull and docker run paradigm to local large language models.

  • Michael Chiang

    Co-founder

    Previously Docker Desktop (via Kitematic, acquired by Docker) and Y Combinator. At Ollama responsible for business development, community and model partnerships.

02 · What they do

Domain of activity

3 areas · 4 technologies · 1 industries
What they do3Areas
  • AI infrastructure
  • AI platforms
  • Language models
How they do it4Technologies
  • Foundation Models
  • LLM
  • Edge AI
  • Multimodal AI
Who for1Industries
  • Software & Technology
03 · Geography

Global presence

HQ Palo Alto · 1 offices · 1 regions
Global
04 · Metrics

Scale & funding

founded 2023 · Series B
2023founded
Approximately 64 employees (2026)employees
$65Mtotal funding
Series Blatest round
growthdevelopment stage
Privatenot listed
activestatus
$65M
total funding
2 · 2021–2026
Pre-seedApril 2021Y CombinatorY Combinator pre-seed round for Jeffrey Morgan's early project iteration (before Ollama Inc. was incorporated in 2023).
$125K
Series BJuly 2026Theory VenturesSeries B round led by Theory Ventures. Peter Fenton (Benchmark Partners) sits on Ollama board. Total funding stands at $88M.
$65M
07 · Classification

Profile & metadata

4 classification · 7 external links

Classification

  • Statusactive
  • Development stagegrowth
  • Listed onNoprivate
  • Organization typeStartup+ Open source organization

External links

08 · Related content

Articles

1 articles
Ollama raises $65M — 9 million developers run AI locally
News11 July 2026

Ollama raises $65M — 9 million developers run AI locally

Ollama, the popular open-source tool for running AI models locally, closed a $65M Series B round led by Theory Ventures. The startup counts nearly 9 million monthly active users and is present in 85% of Fortune 500 companies.