Ollama Raises $65 Million Series B Led By Theory Ventures Bringing Total Funding To $88 Million

Ollama, the popular open-source AI developer tool that helps developers run open-weight AI models locally on their computers, has raised a $65 million Series B round led by Theory Ventures, bringing its total funding to $88 million. Founder and CEO Jeff Morgan said the company, which launched in 2023, is now used by more than 8.9 million developers each month and is present in 85% of Fortune 500 companies. Built by Morgan and co-founder Michael Chiang, who previously helped create Docker Desktop, Ollama has gained significant traction with developers through its free desktop product while also expanding its cloud offerings for larger AI models that are too resource-intensive to run locally. FOUNDER: Jeff Morgan INVESTORS: Theory Ventures, Benchmark & Peter Fenton ROUND: Series B AMOUNT: $65,000,000 HQ: Palo Alto, California #VentureCapital #Ollama #JeffMorgan #TradedVC

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Mercor In Talks To Raise $20 Billion Following Deeptune Acquisition And Revenue GrowthMercor, an AI training startup, is reportedly in early discussions to raise a new funding round at a $20 billion valuation. The potential valuation would double the company’s $10 billion valuation from October 2025, when it raised a $350 million Series C round. Founder and CEO Brendan Foody recently stated that Mercor’s annualized revenue run rate has surpassed $2 billion, representing 100% growth in just four months. The company also announced the acquisition of Deeptune, an AI agent training firm, with the entire Deeptune team joining Mercor. The strong revenue growth, acquisition activity, and prospective funding round suggest Mercor is continuing to expand despite challenges earlier this year, including a data breach and legal disputes involving contract workers. FOUNDER: Brendan Foody AMOUNT: $20,000,000,000 HQ: San Francisco, California #VentureCapital #Mercor #BrendanFoody #TradedVC

Klinic Secures $24 Million In Seed And Series A Funding From Proofpoint Capital And I2BF Global VenturesKlinic, an AI-enabled specialty care access platform, has raised $24 million in combined seed and Series A funding to expand its provider network, enhance its AI-powered platform, and grow its life sciences partnerships. The round was co-led by Proofpoint Capital and I2BF Global Ventures, with representatives from both firms joining Klinic’s board. Founded and led by CEO Avish Bhama, Klinic helps patients navigate the often complex specialty care journey by using artificial intelligence and workflow automation to streamline provider matching, insurance verification, prior authorizations, patient communications, and pharmacy coordination. The company has already supported more than 150,000 patients and aims to make specialty care access faster, more connected, and more affordable. FOUNDER: Avish Bhama INVESTORS: Proofpoint Capital & I2BF Global Ventures ROUND: Seed & Series A AMOUNT: $24,000,000 HQ: Dallas, Texas #VentureCapital #Klinic #AvishBhama #TradedVC