P
Promise
A cost-effective, humane alternative to incarceration by improving long-term outcomes for individuals and communities
About Promise
Promise is a technology startup that aims to revolutionize the way governments interact with their citizens. The company provides software solutions that modernize and humanize the relationship between governments and the people they serve, with a focus on treating everyone with dignity.
Promise operates in the public sector, partnering with government entities to streamline the distribution of aid and relief. Their innovative solutions simplify the administration of rebate systems, making it easier for residents to save money on energy bills and upgrade to clean energy equipment.
The company's business model is centered around a data-driven approach. They use advanced technology to identify the most vulnerable members of the community and ensure they receive the benefits they are eligible for. This includes providing quick and reliable income verification services, which not only increase access to benefits but also reduce fraud, waste, and abuse.
Promise also offers a solution for the millions of individuals who face significant consequences for failing to pay public services debt. Their PromisePay Platform provides affordable solutions to low-income households, helping utilities and government agencies better serve their communities.
The company prides itself on its commitment to security, confidentiality, and integrity, having met the rigorous standards required for SOC 1, SOC 2, and PCI-DSS compliance.
In summary, Promise is a technology company that uses innovative software solutions to improve the way governments serve their citizens, with a focus on dignity, efficiency, and security.
Source: Dealroom company dataAt a glance
- Status
- Operational
- Founded
- 2017
- Headquarters
- Oakland, United States
- Employees
- 247
- Open positions
- None listed
- Dealroom signal
- 84.0/100
- Industry
- Fintech
- Sub-industry
- Payments, Financial Management Solutions
- Sector
- Fintech, Community, YC W18, financial inclusion
- Business model
- SaaS
- Client focus
- b2b, b2c
Knowledge graph
More headlines
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| SERIES BEquity / VC | Aug 2022 | $0 | — | Undisclosed | — |
| SERIES B✓Equity / VC | Feb 2022 | $25M | $520M | First Round Capital · Howard Schultz · Bronze Investments · Kapor Capital | ↗ |
Financials
Revenue, earnings and other financial measures where available. Years marked “E” are estimates.
Growth signals
Latest recorded traffic for Promise is 690 monthly website visits, down 81.8% over the last three months. Promise's team grew 6.9% over the past year.
Similar companies
Company identity and context are open; selected comparison metrics preview what is available on the platform.
Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Seed6 investors entered at this stage
Y Combinator
Kapor Capital
Roc Nation
First Round Capital
8VC
Sleeping Bear Capital
Series A4 investors entered at this stage
Bronze Investments
XYZ Venture Capital
The General Partnership
Howard Schultz
Other known investors5 additional known investors
Bumble Fund
Fifth Down Capital
Flucas Ventures
Springbank
Village Global
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
An AI-synthesised read of the highest-engagement posts about Promise on X, ranked by likes and reposts, corporate channels excluded.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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