Ollie, a startup that developed a privacy-focused AI assistant, will shut down on November 6, according to co-founder and CEO Bill Lennon. He announced the decision on Friday, saying he was proud of what the small team had built and thanking its employees, users, investors and supporters.
The subscription-based assistant was designed to help families stay connected and organized. It connected to users’ email and calendars and included features for appointment bookings, meal planning and bill payments. Ollie had also planned to add household budgeting tools.
The company discussed a $7.5 million seed round led by Khosla Ventures in September. It also became one of the first mainstream apps to achieve SOC 2, a privacy compliance standard awarded through an independent audit.
Lennon said the expanding AI assistant market made it increasingly difficult for Ollie to stand out, grow and raise the capital required to continue. He cited competition from companies including Muse and Instinct, adding that the startup had come close but ultimately could not keep up.
Ollie customers will receive instructions in the coming days on how to export their data and request refunds.
Sources: TechCrunch Startups.