AI Entertainment Studio Promise has received new investments from many high-profile supporters, including Google, Michael Ovitz's Crossbeam Venture Partners, Kivu Ventures and Saga Ventures.
The commitment was launched last year from Peter Chernin's North Road and Andreessen Horowitz, and founded by George Strompolos, CEO and founder of FullScreen, a creator-centric software and media company; and Jamie Byrne, who recently led the creator partnership for YouTube; and film producer Dave Clark, who uses artificial intelligence at work.
Strompolos serves as CEO of the studio, which aims to create a new studio model that relies on generating AI Tech to help creators develop and launch their own content. North Road is also an investor in the new round.
Ovitz's addition highlights the extent to which Hollywood is thinking about how AI will change the way it works, although the CAA co-founder pointed out in a statement that the interaction between humans and technology is key.
"The future of film storytelling belongs to people who respect the art of filmmaking, who not only use new tools, but invent them to redefine the possibilities on the screen," Ovitz said. "The promised team got that, which is why I'm excited about George, Dave and Jamie and what they're building."
"We have made tremendous progress in building a studio, art and Genai Technology since its launch last year," added Stromise's co-founder and CEO Stromise. "We are lucky to have investors who believe in the path we are forging and the possibilities of this new era."
Earlier this year, Promise received a curious refuge for tech-centric film schools, which is an online course, real-life seminars and gatherings that encourage and teach filmmakers how to use AI in their work.
Additionally, the company said it has established strategic partnerships with Google, which include technical collaboration, early model testing and co-marketing efforts, and working with Google DeepMind and the AI team on how to best leverage AI to enhance creativity.
“Promise is one of the most forward-looking studios we have encountered – a creative leadership position in Generative AI,” said Jonathan Silber, co-founder and director of Google AI Futures Fund. “Their collaboration with models like Gemini and Weo is helping to show how this technology can enhance movie storytelling and unlock new creative frontiers, making this partnership a powerful example of what it can do.”