The AI entertainment studio Promise has secured new investment from a number of high-profile backers, including Google, Michael Ovitz’s Crossbeam Venture Partners, Kivu Ventures and Saga Ventures.
Promise launched last year with backing from Peter Chernin’s North Road and Andreessen Horowitz, and was founded by George Strompolos, who was the CEO and founder of creator-centric software and media company Fullscreen; as well as Jamie Byrne, who most recently led creator partnerships for YouTube; and Dave Clark, a filmmaker who uses AI in his work.
Strompolos serves as CEO of the studio, which seeks to create a new studio model that leans on generative AI tech to help creators develop and launch their own content. North Road was also an investor in the new round.
The addition of Ovitz’s firm underscores the degree to which Hollywood is thinking about how AI will change the way it works, though in a statement the CAA co-founder noted that the interplay between humans and tech is key.
“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,” Ovitz said. “The team at Promise gets that, and that’s why I’m excited about George, Dave, and Jamie and what they are building.”
“Since our launch last year, we’ve made tremendous progress in building a studio where imagination, artistry, and GenAI technology come together,” added Strompolos, co-founder and CEO of Promise. “We’re fortunate to have investors who believe in the path we’re forging and the possibilities of this new era.”
Earlier this year Promise acquired the tech-centric film school Curious Refuge, which produces online courses and real-life workshops and meetups, encouraging and teaching filmmakers how to use AI in their work.
In addition, the company says that it has formed a strategic partnership with Google, which will include technical collaboration, early model testing, and co-marketing efforts, as well as working with Google DeepMind and AI teams on how best to use AI to enhance creativity.
“Promise is one of the most forward-thinking studios we’ve encountered — operating on the leading edge of what’s creatively possible with generative AI,” said Jonathan Silber, co-founder & director of the AI Futures Fund at Google. “Their work with models like Gemini and Veo is helping demonstrate how this technology can enhance cinematic storytelling and unlock new creative frontiers — making this partnership a powerful example of what’s possible.”
