About PromisePay
PromisePay is a company based in Oakland (United States) founded in 2017 by Phaedra Ellis-Lamkins. PromisePay has raised $51 million across 4 funding rounds from investors including Rocnation, First Round Capital and Kapor Capital. PromisePay offers products and services including PromiseRelief, PromisePay, and PromiseVerified. PromisePay operates in a competitive market with competitors including Aventiv Technologies, Judicial Innovations, PayGOV, FivePoint Solutions and Government Window, among others.
- Headquarter Oakland, United States
- Founders Phaedra Ellis-Lamkins
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Sectors
Government & Social SectorFinancial Services
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Email
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Phone
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Website
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Social
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- Legal Name Promise Network Inc.
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$51 M (USD)
in 4 rounds
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Latest Funding Round
$25 M (USD), Series B
Feb 24, 2022
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Investors
Rocnation
& 9 more
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Employee Count
Not available
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Products & Services of PromisePay
PromisePay offers a comprehensive portfolio of products and services, including PromiseRelief, PromisePay, and PromiseVerified.
Automates programs for efficient relief distribution and eligibility processing.
Enables flexible, interest-free plans to recover revenue and reduce debts.
Streamlines accurate income checks for faster support delivery.
People of PromisePay
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Funding Insights of PromisePay
PromisePay has successfully raised a total of $51M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $25 million completed in February 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in PromisePay
PromisePay has secured backing from 10 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Rocnation, First Round Capital and Kapor Capital.
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US focused seed and early-stage VC firm
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Seed stage venture capital firm investing in US
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Investments are directed by Bronze Venture Fund into multiple sectors.
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Investor details for PromisePay
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- Investor domains
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Investments & Acquisitions by PromisePay
Investment portfolio details for PromisePay
Portfolio company identities, transaction dates, round details, and investment values require an active premium plan.
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Financial Statements - PromisePay
Detailed financials for PromisePay
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- Profit trends
- Statement rows
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Promisepay Comparisons
Peer comparison for PromisePay
Named peer metrics, headcount, funding, location, and side-by-side benchmarks require an active premium plan.
- Named peers
- Headcount comparison
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- Operating benchmarks
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Competitors of PromisePay
PromisePay operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Aventiv Technologies, Judicial Innovations, PayGOV, FivePoint Solutions and Government Window, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Online money management and payments platform for individuals and businesses
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Web-based payment solutions for government courts and agencies are provided.
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Facilitates online and mobile payments for taxes, utilities, and government fees.
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Case and records management solutions are provided for government agencies.
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Online payment portals for municipal agencies are provided.
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Detailed competitors of PromisePay
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Latest news on Promisepay
Complete news archive for PromisePay
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Frequently Asked Questions about PromisePay
PromisePay was founded in 2017 and raised its 1st funding round 1 year after it was founded.
PromisePay is headquartered in Oakland, United States. It is registered at Oakland, California, United States.
PromisePay is a funded company, having raised a total of $51M across 4 funding rounds to date.
PromisePay was founded in 2017 and is based in Oakland, United States. Solutions for payment processing and collections are offered to government organizations, such as utility providers, tax institutions, law enforcement departments, and parking authorities. Online payments are facilitated through credit and debit cards, bank transfers, and additional methods within the fintech sector focused on public sector needs.
PromisePay's top competitors include Aventiv Technologies, Judicial Innovations and FivePoint Solutions.
PromisePay offers PromiseRelief, PromisePay, and PromiseVerified.
PromisePay has 10 investors. Key investors include Rocnation, First Round Capital, Kapor Capital, Bronze Venture Fund, and XYZ Venture Capital.