Participated · Equity · Dec 2020

FiscalNote delivers legislative and regulatory data, policy news and analysis, stakeholder management, collaboration and advocacy tools to customers worldwide. The company serves more than 4,000 clients, including the U.S. Centers for Disease Control and Prevention, the Federal Reserve Board, 3M, AstraZeneca and the American Hospital Association. Led by Founder & CEO Tim Hwang, FiscalNote operates offices in the US, Belgium, India and Korea. The product suite focuses on aggregating and analyzing regulatory and legislative information to help organizations manage policy risk and advocacy. FiscalNote intends to use recent financing to accelerate technology and service development, pursue strategic acquisitions, expand into new international markets and refinance existing debt. FiscalNote builds a platform for analyzing government risk, using proprietary code to parse millions of regulatory and legislative actions and generate actionable insights for investor, compliance, and legal professionals. Its product suite includes powerful legislative searching, tracking, and forecasting tools alongside federal and state regulatory data and analytics. The company offers a mobile application that lets users access and analyze every bill at every stage from all fifty states, D.C., and Congress. FiscalNote's customers include Southwest Airlines, Aetna, Lyft, the Democratic Governors Association, VMWare, Planned Parenthood, Allergan, the University of Virginia, and the Natural Resources Defense Council. The company emphasizes design and real-time analytics and says it aims to unlock legislative and regulatory data with best-in-class analytics, insights, and predictions. Financially, the company has raised multiple rounds and recently completed a financing that increased its total funding to over $30 million. Founded in 2013 by CEO Tim Hwang, FiscalNote provides legislative searching, tracking, and forecasting products built on artificial intelligence and design. Its flagship product is Prophecy, and the company said it will introduce a regulatory product called Sonar later this year. FiscalNote's product suite is used by customers including Uber, the Democratic and Republican Governors Associations, VMWare, Planned Parenthood, United Therapeutics, Allergan, Auction.com, and the Natural Resources Defense Council. In March 2015 FiscalNote raised $10M in a Series B funding round to support expansion into new markets. The company previously raised a $7M Series A in November 2014. FiscalNote provides the Prophecy platform, which applies artificial intelligence to real-time and historic legislative data and offers search and advanced notification functionality. The Prophecy platform was launched in early 2014. Customers include Planned Parenthood, New Balance, VMware, Natural Resource Defense Council, Ally Financial, Allergan, both the Republican and Democratic Governors Associations, and the University of Virginia School of Law. FiscalNote closed a $7M Series A led by Visionnaire Ventures with participation from AME Cloud Ventures, NEA, Green Visor Capital, Winklevoss Capital and angel investor Duke Chung. The company intends to use the funds to continue content expansion, increase engineering capacity to cover information domestically and globally, and grow its sales and marketing teams. FiscalNote was co-founded by CEO Tim Hwang, Jonathan Chen and Gerald Yao. FiscalNote aggregates legislative data posted to public sources to help businesses stay up-to-date with state and local legislation. It is developing the PoliticalGenome Project, which analyzes bill language and the histories of legislators to predict a bill's success. The nine-person startup uses machine learning and natural language processing and plans to boost its algorithm and expand its ML/NLP team. FiscalNote is conducting a closed beta with customers that include legal and marketing departments within Fortune 500 companies, national advocacy groups, and financial institutions. Founders include CEO Tim Hwang, CTO Jonathan C. Chen, and CFO Gerald Yao, and the advisory board includes Chris Lu, Youngsuk "Y.S." Chi, and LegalZoom CEO John Suh. The company intends to expand beyond legislation into other industries and geographies.