On July 9, 2026, Ollama announced that it raised US$65 million in a Series B financing led by Theory Ventures, with additional participation from Benchmark, 8VC, Y Combinator, Pace Capital, 49 Palms and GTMFund, bringing the company’s total financing to US$88 million. Ollama plans on utilizing the financing towards growing its open-source AI developer platform.
Ollama is an open-source AI developer tool that enables developers to run open-weight AI models locally and to access larger models through Ollama’s cloud service. The company launched in 2023 and is used by developers to find, run and build with open models.
Osler, Hoskin & Harcourt LLP advised Ollama with a team consisting of Chad Bayne, Gary Marshall, Hailey Chin and Gaby Fekete (Emerging and High Growth Companies).
Key Contact
Partner, Emerging and High Growth Companies, Toronto
Team
Partner, Emerging and High Growth Companies, Toronto
Associate, Emerging and High Growth Companies, Toronto
Associate, Emerging and High Growth Companies, Calgary
