Ollie, a startup that built an AI assistant focused on user privacy, is shutting down. The company said its app will close for good on November 6.
Bill Lennon, Ollie’s co-founder and CEO, shared the news in a post on X on Friday, October 30. He said the closure would take effect in about one week.
“I’m really proud of what we accomplished,” Lennon said. “We built an incredible personal assistant with a small team, and learned a ton.”
He also thanked the people who backed the company. “I’m grateful to our amazing team, our users, our investors, and everyone who supported us on this journey,” he said.
What Ollie Offered Users
Ollie was a text-based AI assistant designed to help families stay connected and organized. It ran on a subscription model, with users paying a recurring fee.
The app linked to a user’s email and calendar. It also included tools for booking appointments, planning meals, and paying bills.
The company had plans to expand into household budgeting at a later stage. Those plans will not move forward now that the app is closing.
Ollie was one of the first mainstream apps to earn SOC 2 certification. SOC 2 is a privacy compliance standard that companies receive after passing an independent audit.
Privacy was a core part of how Ollie described its product. Some other AI assistants, including one from Instinct, have faced questions about privacy and security this year.
Funding and Competition
In September, Ollie shared details of a $7.5 million seed funding round with TechCrunch. The round was led by Khosla Ventures, a Silicon Valley venture capital firm.
The shutdown comes less than two months after that funding news. TechCrunch first reported on the seed round on September 3.
The market for text-based AI assistants has grown quickly over the past year. More powerful AI models have made these tools more useful for everyday tasks.
Lennon said the pressure of the fast-growing AI industry took a toll on the company. “We got close, but ultimately couldn’t keep up,” he said.
He pointed to rival products as a key factor. “With Muse, Instinct, and others entering the space, it became harder to stand out, grow, and raise the capital we needed to succeed,” Lennon said.
Ollie’s customers will soon receive instructions on how to export their data. Lennon said users will also get details on how to receive refunds in the coming days.
The app is set to go offline on November 6. Users will need to follow the export steps before that date to keep their information.
