Promise, a Generative AI Studio Startup, Raises Seed Funding From Peter Chernin, Andreessen Horowitz: ‘This Is a Transformational Moment in Entertainment’

Is generative artificial intelligence Hollywood’s friend or foe? A new studio venture, which has received backing from Peter Chernin and venture-capital firm Andreessen Horowitz, is enthusiastically in the latter camp — embracing gen AI as a power tool for creatives.

Promise says it will produce films and TV shows and “pioneer new formats, empowering both gen AI artists and established Hollywood talent to bring ambitious, creative visions to life.” A key piece of the startup’s business model is proprietary software that will facilitate “a reimagined production process.”

The company’s trio of founders have digital-media bona fides: CEO George Strompolos is the former founder of creator network Fullscreen; president/COO Jamie Byrne, a YouTube content executive who helped launch the platform’s creator revenue-sharing program; and chief creative officer Dave Clark, a marketer, commercial director and AI filmmaker includes short film “Battalion,” following the only Black unit to arrive on Omaha Beach in Normandy during World War II.

Based in L.A.’s Venice neighborhood, Promise raised a seed round of funding from Peter Chernin’s North Road Co. studio and Andrew Chen of venture-capital firm Andreessen Horowitz (a16z). The amount of the investment is not being disclosed. Currently, Promise has combination of about 10 full- and part-time employees. When the company initiates active productions, headcount will “ramp up” in line with the production’s needs, a rep said.

Chernin previously invested in Strompolos’ Fullscreen, which sold a majority stake to AT&T and Chernin Group in 2014, in what would become their Otter Media digital-video joint venture. In 2020, prior to AT&T’s sale of WarnerMedia to Discovery, the Fullscreen division was wound down.

Chernin said in a statement, “There is something undeniably exciting about generative AI, and we are bullish on George and Promise’s ability to empower storytellers. This team understands that prioritizing artists and creatives is the only approach as we begin to apply generative AI into the creative process, and Promise has the most inventive and user-friendly model we have seen.”

Strompolos said Promise is investing in a new class of gen AI talent “who blend traditional filmmaking chops with cutting-edge technical expertise, setting a new standard for high-quality storytelling enabled by AI.”

“We believe this is a transformational moment in entertainment and a studio must be built from the ground up — around the artists, the tech and a new workflow — in order to unlock its full potential,” Strompolos said.

According to Byrne, Promise is “championing” gen AI artists and forming partnerships with “a broad range of rights-holders to bring their stories to life.” The company’s goal, Clark said, is to “cultivate a space where storytellers from all backgrounds can explore bold ideas, take risks and push the boundaries of storytelling.”

Promise is developing a software product called MUSE, billed as a new kind of production workflow system that integrates “the latest gen AI technology” throughout the creative process “in a streamlined, collaborative and secure production environment, enabling artists to bring the highest-quality work to the screen.”

The company’s full name is “Promise Advanced Imagination Inc.” Its website is at promisestudios.com.

Promise is advertising open job roles at the company including gen AI directors, gen AI image and motion artists, 3D artists, and a program lead for gen AI artist development. 

Pictured above, l. to r.: Promise founders chief creative officer Dave Clark, CEO George Strompolos, president/COO Jamie Byrne