# Promise Network

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/promise-network

- Industry: Software
- Headquarters: Oakland, US
- Website: www.promise-pay.com
- Total disclosed funding: $48M
- Latest round: Series B (Feb 24, 2022)
- Investors on record: 9

## About

Based in the US and founded in 2017, Promise Network Inc is a financial services technology company that provides a modern payment platform built for the government. Phaedra Ellis-Lamkins the CEO and co-founder of Promise Network Inc. The company has raised a total of USD 23 million in funding over 3 rounds. The latest funding was raised on Feb 18, 2021, from a Series A round and funded by First Round, 8VC, Roc Nation, Jay Z, and Y Combinator.

Promise Network Inc platform provides automated payment plans as affordability and assistance programs, and creates custom payment arrangements to residents pay off debt faster, the government gets more revenue, and government works better for everyone.

## Funding rounds

- Series B, Feb 24, 2022, $25M — First Round Capital, Kapor Capital, Y Combinator, Bronze Investments, Gaingels, XYZ Ventures, The General Partnership
- Series A, Jan 29, 2021, $20M — First Round Capital, Kapor Capital, Y Combinator, Bronze Investments, Gaingels, XYZ Ventures
- Seed, Mar 19, 2018, $3M — First Round Capital, Kapor Capital, Roc Nation, 8VC

## Investors

- First Round Capital (https://capitalatlas.ai/funds/first-round-capital) — Seed, Series A, Series B
- Kapor Capital (https://capitalatlas.ai/funds/kapor-capital) — Seed, Series A, Series B
- Roc Nation — Seed
- 8VC (https://capitalatlas.ai/funds/8vc) — Seed
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Series A, Series B
- Bronze Investments (https://capitalatlas.ai/funds/bronze-investments) — Series A, Series B
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series A, Series B
- XYZ Ventures (https://capitalatlas.ai/funds/xyz-ventures) — Series A, Series B
- The General Partnership (https://capitalatlas.ai/funds/the-general-partnership) — Series B