November 20, 2014
The Washington, D.C. startup FiscalNote, whose artificial intelligence technology analyzes and predicts the outcome of legislation, announced a $7 million Series A. This round of financing was led by Singapore sovereign wealth fund Visionnaire Ventures, with participation from Cloud Ventures, NEA, Winklevoss Capital, Enspire Capital, Green Visor Capital, and Middleland Capital. Notable angelsin this round include AOL cofounder Steve Case and Parature cofounder Duke Chung.
Last year, FiscalNote raised 1.3 million in funding led by Mark Cuban, Jerry Yang, NEA, and the First Round’s Dorm Room Fund. According to the company this new financing will enable FiscalNote to continue expanding its content and engineering capacity both nationally and globally. The new funds will also be used towards expanding its sales and marketing teams to keep up with rapidly growing client base, which has grown to 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.
“Interest and adoption of our online platform by all sorts of organizations – from Fortune 500s to non-profits to universities – has been nothing short of incredible,” said FiscalNote cofounder and CEO Tim Hwang in a statement. “They have continuously demonstrated to us a growing need to more accurately monitor and forecast legislative activity with a technological, real-time solution. I couldn’t be more excited about the group of strategic technology visionaries that we’ve assembled to achieve our goal of opening up government data and making it useful around the world.”
FiscalNote was founded in 2013 after a need was discovered for legislative data. The company’s platform applies artificial intelligence to real-time and historic legislative data to predict legislative outcomes with 94 percent accuracy.
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