Promise

Promise

Public-sector software for aid, rebates, verification

Overview

Promise builds software for governments to interact with citizens, helping them distribute aid, manage rebate programs, verify income quickly, and offer affordable debt repayment through the PromisePay platform. The products use data to identify vulnerable residents, speed eligibility, reduce fraud, and streamline administration while maintaining security standards like SOC 1, SOC 2, and PCI-DSS. It differentiates itself by combining dignity-focused, public-sector tools in one platform with targeted data use and a strong security posture, focusing on government clients. Its goal is to improve government services by making benefits easier to access, reducing waste, and providing sustainable, affordable ways for people to meet public obligations with trust and security.

YC Company

About Promise

Simplify's Rating
Why Promise is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Differentiation

Industries

Data & Analytics

Government & Public Sector

Enterprise Software

Social Impact

Company Size

201-500

Company Stage

Series B

Total Funding

$48.1M

Headquarters

Oakland, California

Founded

2017

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Simplify's Take

What believers are saying

  • Baltimore launched Promise-powered property-tax plans in April 2026, expanding beyond water bills.
  • Promise reported reaching more than 5 million households across 20-plus states in 2026.
  • Promise’s February 2026 New Jersey WIC pilot shows product expansion into benefits distribution.

What critics are saying

  • Baltimore interest accrual still angered residents, and political backlash can stall renewals in 2026.
  • A larger govtech vendor can bundle payments with ERP and CRM, compressing Promise’s niche.
  • If Baltimore or another flagship agency churns, Promise loses reference deals and revenue credibility.

What makes Promise unique

  • Promise embeds payment plans directly into Baltimore, utilities, and agency workflows.
  • Promise runs interest-free installment, outreach, reconciliation, and audit tooling in one platform.
  • Promise turns debt collection and benefits distribution into a single government operating layer.

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Funding

Total Funding

$48.1M

Below

Industry Average

Funded Over

4 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Below Average

Industry standards

$35M
$30M
Patreon
$45M
Linktree
$65M
Substack
$100M
ClickUp

Benefits

Hybrid Work Options

Health Insurance

Growth & Insights and Company News

Headcount

6 month growth

↑ 1%

1 year growth

↑ 0%

2 year growth

↑ 1%
MovieBloc
Jul 8th, 2025
Promise AI Film Studio Attracts Google Investment

Promise, an AI film studio founded by leaders from the YouTube creator ecosystem, is revolutionizing the film industry by democratizing and innovating film production with AI. In May, Promise secured investment from Google's AI Futures Fund, though the amount remains undisclosed.

Yahoo
May 20th, 2025
Promise AI Studio Gains New Investors

Promise AI Studio has secured new investments from Google's AI Futures Fund, Michael Ovitz's Crossbeam Venture Partners, Kivu Ventures, and Saga Ventures. The North Road Company, a previous co-lead investor, increased its investment. The Venice-based studio, founded by Jamie Byrne, George Strompolos, and Dave Clark, is developing its first feature film, "NinjaPunk," combining AI and traditional filmmaking. A strategic partnership with Google will enhance its Muse software.

Sleeping Bear Capital
Oct 10th, 2023
Portfolio | SBC

© 2021 by Sleeping Bear Capital, LLC

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