Ellis AI Secures $10 Million Seed Round to Automate Private Credit Workflows

Ellis AI announced its launch from stealth mode, raising $10 million in seed funding from a consortium of investors such as First Round Capital, 645 Ventures, Harlem Capital, Khosla Ventures, Thrive Capital, Slow Capital and Ariel Alternatives, represented by CEO Mellody Hobson. The company was created by Ryan Williams, known for co-founding the real-estate platform Cadre, which was later sold to Yieldstreet. Ellis AI’s technology employs AI agents to unify the disparate software, accounting data and documents that private credit managers use, allowing the system to detect discrepancies and automate tasks like portfolio monitoring and report generation.

Williams emphasizes that the solution connects to existing tools rather than forcing a complete overhaul, and that critical judgments remain with human experts. The platform is positioned to reduce manual data handling, especially the reliance on Excel, and to accelerate decision-making in the private credit sector.