Ollie, a privacy-focused AI assistant, is shutting down
As an increasing number of AI assistants flood the market, the founder of Ollie, an assistant that respected its users' privacy, says it will be shutting down in a week.
Key points
- Ollie, a privacy-focused AI assistant, will shut down on November 6, CEO Bill Lennon announced on X.
- Lennon said the company got close but couldn't keep up with competitors like Muse and Instinct.
- Ollie raised a $7.5 million seed round led by Khosla Ventures and achieved SOC 2 privacy compliance.
Ollie, a startup that aimed to provide an AI assistant respecting user privacy, will shut down in a week, the company said. Co-founder and CEO Bill Lennon announced on X on Friday that the app will officially close on November 6.
Ollie offered a subscription-based assistant focused on helping families stay connected and organized. It connected to users' email and calendar and included functions for appointment bookings, meal planning and bill payments. The company had also planned to move into household budgeting.
Privacy standard and funding
Ollie was one of the first mainstream apps to achieve SOC 2, a privacy compliance standard obtained through an independent audit. The company discussed a $7.5 million seed round led by Khosla Ventures with TechCrunch in September.
Lennon said the pressures of the growing AI industry took a toll. He stated that with Muse, Instinct and others entering the space, it became harder to stand out, grow and raise the capital needed to succeed.
We got close, but ultimately couldn’t keep up
— Bill Lennon
What customers can expect
Ollie's customers will receive instructions in the coming days on how to export their data and receive refunds, Lennon added.
