Ellis AI raises $10M seed to automate private credit workflows
Original: Repeat founder Ryan Williams raises $10M seed for an AI startup for private credit managers
Why This Matters
Ellis highlights growing VC appetite for AI-driven back-office automation in the expanding private credit market.
Ellis AI emerged from stealth on July 31, 2026, with $10M in seed funding backed by First Round Capital, Khosla Ventures, Thrive Capital, and others. Founded by Cadre co-creator Ryan Williams, the startup deploys AI agents to centralize and automate fragmented workflows for private credit managers.
Ellis AI announced its emergence from stealth with $10 million in seed funding from a syndicate that includes First Round Capital, 645 Ventures, Harlem Capital, Khosla Ventures, Thrive Capital, Slow Capital, and Ariel Alternatives CEO Mellody Hobson. The company was founded by Ryan Williams, who previously co-founded real estate investment platform Cadre with Josh and Jared Kushner in 2014. Cadre raised over $160 million, reached an $800 million peak valuation, and was sold to Yieldstreet in 2024 for an undisclosed sum. Ellis targets the operational infrastructure of private credit firms, connecting existing software, accounting systems, and documents into a centralized platform rather than requiring firms to replace their current tools. Its AI agents can flag data discrepancies, monitor portfolios, prepare reports, and assist with end-of-month book closing — tasks that currently require manual downloads, reformatting, and hand re-entry across multiple systems. Williams noted that Excel often functions as the de facto operating system at many firms. The platform keeps humans in the loop for material decisions, with Williams stating: 'Our goal is not to replace human judgment; it's to help people cut through the noise and make educated decisions faster.'