Promise
Promise offers a payment platform for governments, enabling residents to pay debt through flexible plans and multilingual support.
Secondary Market Price
Secondary Market Price
How Promise Measures Up
To help you manage your Promise equity, Prospect has run the company through our machine learning model.
Prospect Rating
TBD
We are still gathering data and evaluating Promise's rating. Check back soon for our projection on the company's value four years from now.
Exit Risk
TBD
We are still gathering data on Promise to train our machine learning model. Check back soon for our exit risk rating for Promise!
Funding Stage
Series B
Promise's Series B funding means the company has a proven business model and is focused on scaling its operations. For a potential employee, this suggests more stability than an early-stage startup but still offers significant opportunities for growth and impact.
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Prospect Projected Future Promise Prices
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Company Description
Promise is a technology company that provides a payment platform, PromisePay, for government agencies. The platform is designed to help residents manage and pay government-related obligations such as utilities, child support, ticketing, and criminal justice fees. It offers a mobile-accessible interface, multiple payment methods and languages, and flexible payment plans, supported by a 24/7 customer service team. Founded in 2017 by Phaedra Ellis-Lamkins and Diana Frappier, the Oakland-based company was established to modernize government payment systems. The company has raised over $50 million in funding from investors including Kapor Capital, Y Combinator, and XYZ Ventures, with its most recent funding round being a $25 million Series B in March 2022.
Looking forward, Promise plans to continue modernizing government infrastructure and scaling its payment systems. The company is actively recruiting for roles such as sales engineers to support this expansion. Recent company activities highlight its focus on public sector technology and community impact. The company sponsored a Public Impact Prize at a CalHacks hackathon and hosted an event in Washington, D.C., titled 'Engineering for Real Impact,' which featured speakers from Y Combinator and Reddit. Company leadership has also participated in industry events, including a career fair hosted by XYZ Venture Capital and a fireside chat on customer experience at a J.D. Power utility conference.
- Y Combinator
- First Round
- XYZ
- Chairman, President James Lee
Peer Group Comparison
Vs Peer Group of >$4B Startups
Frequently Asked Questions
Joining Anduril as an employee is another way to acquire equity, typically through stock options included in compensation packages.
Is Promise worth joining?
Deciding to join any startup depends on your personal career goals and risk tolerance. To better understand the potential financial outcome of an offer, you can use platforms like Prospect to model the future value of your equity compensation.
What should I do with my Promise stock?
The right strategy for your private company stock depends on your financial goals, tax situation, and the company's performance. Tools like Prospect can help you model different scenarios and develop a personalized strategy for exercising options or selling shares.
Can you sell Promise stock?
Selling stock in a private company is typically possible during specific events like tender offers or on secondary markets, though it is less straightforward than with public companies. Platforms such as Prospect provide tools and data on secondary market prices to help you navigate these sales and optimize for taxes.
How can I find the value of my Promise stock?
The value of private stock is typically determined by a 409A valuation, which is based on factors like the most recent funding round. For a more dynamic forecast, you can use specialized platforms like Prospect, which use predictive models to project your equity's future worth.
What is Promise's equity worth?
The total equity valuation for a private company like Promise is not public information and changes with new funding rounds and performance. To understand what your specific equity stake could be worth after taxes, you can use tools like Prospect to get personalized net equity projections.
What is Promise's stock ticker symbol?
As a private company, Promise does not have a stock ticker symbol because its shares are not traded on a public stock exchange. Ticker symbols are assigned only when a company undergoes an initial public offering (IPO).
Can I buy or sell Promise stock?
Selling shares in a private company like Promise is generally restricted to company-approved tender offers or secondary market transactions. Buying shares is typically limited to accredited investors participating in funding rounds or on specific secondary market platforms.
What is the criteria to buy or invest in Promise stock?
Investing in a private startup like Promise is typically restricted to institutional investors like venture capital firms and accredited investors. An accredited investor must meet specific income or net worth requirements as defined by financial regulators.
