Ellis AI Secures $10 Million Seed Round to Build AI Platform for Private Credit Managers

Ellis AI announced a $10 million seed funding round led by First Round Capital with participation from 645 Ventures, Harlem Capital, Khosla Ventures, Thrive Capital, Slow Capital, Kearny Jackson and Ariel Alternatives. Founder Ryan Williams, who previously co‑created the Cadre private‑credit platform, said the capital will accelerate development of an AI‑native operating system that integrates accounting data, documents and spreadsheets for private‑credit managers. The platform uses AI agents to highlight data inconsistencies, automate tasks such as portfolio monitoring and report preparation, and reduce manual re‑formatting of information across fragmented systems. Williams emphasized that the solution is designed to be compatible with firms’ existing tools rather than requiring a complete overhaul. The company, now valued at about $40 million, aims to make institutional‑grade operational capabilities accessible to all private‑credit managers, not just the largest firms.