Ellis AI has emerged from stealth with $10 million in seed funding to build AI tools for private credit managers. Founded by Cadre co-creator Ryan Williams, the company aims to reduce the manual, fragmented operational work involved in handling documents, spreadsheets, accounting data and correspondence across private credit firms.

The round includes First Round Capital, 645 Ventures, Harlem Capital, Khosla Ventures, Thrive Capital and others. Ellis connects with firms’ existing systems, flags data discrepancies, and can assist with portfolio monitoring, reporting and month-end book closing, while Williams says people will retain responsibility for material decisions.