Promise, the generative artificial intelligence studio that aims to produce original series and movies using AI technology, has added Google’s AI Futures Fund and Crossbeam Venture Partners, the Michael Ovitz-tied VC firm, as investors on Tuesday.
The new investment round also includes Kivu Ventures and Saga Ventures, while Peter Chernin’s The North Road Company, the co-lead investor when Promise launched in Nov. 2024, has “deepened its commitment with additional capital in this round,” according to a release announcing the new funding.
Terms of the deal were not announced.
Other investors who have added to their initial support include Offline Ventures, Frame.io founder Emery Well, and Box CEO Aaron Levie. Andreessen Horowitz was the other co-lead investor alongside The North Road Company last year.
The Venice, California-based company was founded by former YouTube executive Jamie Byrne, Fullscreen CEO George Strompolos and independent filmmaker Dave Clark.
As part of the latest round, Promise has formed a strategic partnership with Google that has bolstered the development of Muse, its software that integrates the latest advancements in generative AI technology to the creative process.
“Since our launch last year, we’ve made tremendous progress in building a studio where imagination, artisty, and GenAI technology come together,” Promise CEO and co-founder George Strompolos said in a statement. “We’re fortunate to have investors who believe in the path we’re forging and the possibilities of this new era.”
And beyond the big financial backers, perhaps the most eye-catching part of Tuesday’s funding announcement is that production on Promise’s first feature-length film is set to begin later this year. Promise recently shared a teaser of “NinjaPunk,” a hybrid project that combines AI with “human artistry and traditional filmmaking,” according to the company; You can check that out below.
Ovitz, the co-founder of CAA and former head of Disney, said the “future of cinematic storytelling belongs to those who respect the art of filmmaking — and who don’t just use new tools, but invent them to redefine what’s possible on screen. He added the team at Promise “gets that.”
Jonathan Silber, co-founder and director of Google’s AI Futures Fund, was equally enthusiastic in his statement, saying Promise’s technology can “enhance cinematic storytelling and unlock new creative frontiers.”
