US privacy-focused AI startup Ollie to shut down
The family-focused app helped users book appointments, plan meals, and pay bills.
Ollie, a privacy-focused AI assistant startup, announced it would be shutting down in a week. Co-founder and CEO Bill Lennon made the announcement on X, expressing pride in what they accomplished while acknowledging the challenges of staying afloat in the rapidly expanding AI industry.
Founded in 2022, Ollie received $7.5 million in seed funding from Khosla Ventures. The subscription-based assistant aimed to help families stay organized by connecting to users' emails and calendars, helping with appointments, meal planning, and bill payments. Ollie was one of the first mainstream apps to achieve SOC 2 certification, a privacy compliance standard verified through independent audits.
Despite their efforts, the company struggled to keep up with the growing competition, including Muse and Instinct. Lennon attributed Ollie's closure to the rising difficulty of standing out and securing capital in the booming AI market. Customers will soon receive guidance on exporting their data and receiving refunds.
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