FiscalNote

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FiscalNote
Company typeTechnology
IndustryInternet, Software as a service, Open data
Founded2013
FounderTimothy Hwang: CEO
Gerald Yao: Chief Strategy Officer
Jonathan C. Chen: Co-Founder
HeadquartersWashington, D.C.
Websitewww.fiscalnote.com

FiscalNote, Inc. is a technology company that helps businesses and organizations take control of their government strategy with the first dedicated government relationship management (GRM) system. The company is headquartered in Washington, D.C. with offices in New York City. Clients include Aetna, Lyft, Southwest Airlines, Enerplus, and the University of Virginia.

FiscalNote leverages artificial intelligence to make government data more accessible and actionable across industries. FiscalNote is the first government strategy platform to offer a mobile application, allowing users to access and analyze every bill at every stage from all fifty states, D.C. and Congress on their phones. These offerings tie to the company’s objective – empowering organizations to take control of their government strategy.

FiscalNote recently started its international expansion with its acceptance into Google for Entrepreneurs’ Campus Seoul, a space for entrepreneurs to connect, learn, and go global.

FiscalNote was listed on the 2014 edition of the CNN 10: Startups.[1] Entrepreneur named FiscalNote one of The 25 Best Medium-Sized Company Cultures in 2015.[2] In 2016, FiscalNote CEO Timothy Hwang was named one of Forbes’ 30 Under 30 in Law & Policy[3] and the Inc. (magazine) 30 Under 30.[4]

The company was also featured on Meet the Press with Luke Russert,[5] C-SPAN,[6] and The Economist.[7]

History

FiscalNote was founded by Timothy Hwang, Gerald Yao, and Jonathan C. Chen in 2013. The co-founders have known each other since middle school, attending both Robert Frost Middle School and Thomas Sprigg Wootton High School together.[8][9]

FiscalNote started when the company was selected for the 10-week Plug and Play Startup Camp in Silicon Valley in the summer of 2013. Hwang, Yao and Chen relocated to Silicon Valley, along with engineers Dan Maglasang and Dev Shah, and began FiscalNote in a Motel 6 in Sunnyvale, Calif.

“We’re currently staying at a Motel 6, and might be staying there for an extended period of time. There’s not a lot of cheap housing in the area, but we’ve been told to check Craigslist for any openings. Our team will have 4 people in California though…it’s hard to get a cheap place for so many people! It’s a pretty good place to stay though, and we might have to stay there for the whole summer to save money.”[10]

FiscalNote during a company offsite in July 2015.

Acknowledging that customer interest was concentrated in Washington, D.C., they moved the company to an office in Bethesda, Md, in Aug. 2013. In 2014, FiscalNote started leasing the former D.C. Facebook offices in Metro Center. At this time, FiscalNote was listed among Inc. Magazine's 16 "Coolest College Startups" for 2014.[11] Also in 2014, FiscalNote established a presence in New York City,[12] based out of a WeWork space.

FiscalNote CEO Tim Hwang and U.S. Army General (RET) Stanley McChrystal.

In Feb. 2016, to accommodate its rapid growth, FiscalNote moved their D.C. office to 1 Thomas Circle,[13] leasing the entire 8th floor; likewise, their New York City office leased its own space at 291 Broadway. The company also began eyeing international opportunities when they were selected as an inaugural member of Google’s Campus Seoul in Seoul, Korea.[14]

Financing

In September 2013 the company announced a $1.2 million seed funding round[15][16] backed by Mark Cuban, New Enterprise Associates, First Round Capital's Dorm Room Fund, AME Cloud Ventures, Plug and Play Tech Center, and the University of Maryland.

In November 2014 FiscalNote announced a $7 million Series A round[17][18] which included additional investors Visionnaire Ventures, Winklevoss Capital, Green Visor Capital, Enspire Capital, Middleland Capital, and Steve Case.

This was augmented in February 2015 with a $10 million Series B round led by Renren.[19][20]

In February 2016, the company announced their $10 million Series C funding[21][22] led by Visionnaire Ventures and Green Visor Capital. Participating investors included New Enterprise Associates, co-founder and former CEO of Yahoo! Inc. Jerry Yang, Mark Cuban, 645 Ventures, Renren, Plug and Play, SF Capital, Perle Ventures and Conversion Capital.

Advisors

Name Background Advisor Since
John Suh CEO of LegalZoom
Bruce Mehlman Managing Partner of Mehlman Castagnetti Rosen Bingel & Thomas
Glen Hubbard Dean of Columbia University Business School, Former Chair of White House Council of Economic Advisors
Alec Ross Former Sr. Advisor for Innovation to Secretary of State Hillary Clinton Dec. 2013[23]
Sheel Tyle Principal & Co-Head Seed Practice of New Enterprise Associates
Mike Ferguson Vice Chair of the House of Representatives Subcommittee on Health, Current Chairman and CEO of Ferguson Strategies LLC
Tony Ng Director of Engineering, eBay
Katharine Weymouth Former Publisher of the Washington Post, Former CEO of Washington Post Media April 2015[24]
Ben Foster Product advisor for tech startups, Former VP Product of Commercial Energy Efficiency at Opower
Philip Resnik Research advisor, works on computational linguistics at at the University of Maryland, College Park Oct. 2015[25]
Board Members
GEN (Ret.) Stanley McChrystal Former Commander ISAF & USFOR-A, Co-Founder of McChrystal Group LLC March 2016[26]

References

  1. ^ "CNN 10: Startups". CNN. Retrieved 2014-11-19.
  2. ^ Staff, Entrepreneur (2015-11-04). "The 25 Best Medium-Sized Company Cultures in 2015". Entrepreneur. Retrieved 2016-05-05.
  3. ^ "30 Under 30 2016: Law & Policy". Forbes. Retrieved 2016-05-05.
  4. ^ "How FiscalNote Gets Ahead of Government (So You Don't Have to)". Inc.com. 2016-06-02. Retrieved 2016-06-06.
  5. ^ "FiscalNote: When Technology Meets Legislation". NBC News. Retrieved 2014-11-19. {{cite news}}: Cite has empty unknown parameter: |1= (help)
  6. ^ "The Communicators: Tim Hwang". C-SPAN.org. Retrieved 2016-05-05.
  7. ^ "Turning the tables". The Economist. ISSN 0013-0613. Retrieved 2016-05-05.
  8. ^ "Is This the Next Bill Gates?". Bethesda Magazine. Retrieved 2014-11-19.
  9. ^ "About FiscalNote". fiscalnote.com. Retrieved 2014-11-19.
  10. ^ "Starting Off: 6/19/2013". FiscalNote. Retrieved 2016-05-05.
  11. ^ "America's Coolest College Startups 2014". Inc.com. 2014-03-17. Retrieved 2016-05-05.
  12. ^ Nekola, Adam (2015-08-14). "FiscalNote expands footprint in New York City". FiscalNote. Retrieved 2016-05-05.
  13. ^ "FiscalNote is getting some new digs - Technical.ly DC". Technical.ly DC. 2016-02-17. Retrieved 2016-05-05.
  14. ^ Ridel, Kaitlyn (2016-03-17). "FiscalNote secures spot at Google's Campus Seoul". FiscalNote. Retrieved 2016-05-05.
  15. ^ "Steve Case and the Winklevoss Twins Join in $7M Round for DC Startup". DC Inno. Retrieved 2016-05-05.
  16. ^ Ha, Anthony. "Legislation Tracking And Prediction Startup FiscalNote Raises $1.2M From Mark Cuban And Others". TechCrunch. Retrieved 2016-05-05.
  17. ^ "Steve Case and the Winklevoss Twins Join in $7M Round for DC Startup". DC Inno. Retrieved 2016-05-05.
  18. ^ "FiscalNote snares $7 million in investments from Winklevoss, Singapore wealth fund". Washington Post. Retrieved 2016-05-05.
  19. ^ "DC's FiscalNote Raises $10M Series B Led by Renren". tech.co. 2015-02-03. Retrieved 2016-05-05.
  20. ^ Purnell, Newley. "China's Renren Invests in U.S. Startup FiscalNote". WSJ. Retrieved 2016-05-05.
  21. ^ "FiscalNote's $10 million Series C includes some impressive investors - Technical.ly DC". Technical.ly DC. 2016-02-04. Retrieved 2016-05-05.
  22. ^ "Who Needs Lobbyists for Political Intelligence? This Tech Startup Has a Better Way". Fortune. 2016-02-02. Retrieved 2016-05-05.
  23. ^ FiscalNote (2013-12-12). "Former Hillary Clinton Innovation Advisor Alec Ross Joins FiscalNote Board of Advisors". FiscalNote. Retrieved 2016-05-05.
  24. ^ FiscalNote (2015-04-15). "Former Washington Post publisher Weymouth joins FiscalNote advisory board". FiscalNote. Retrieved 2016-05-05.
  25. ^ FiscalNote (2015-10-28). "Computational Linguistics Expert Philip Resnik Joins Advisory Board". FiscalNote. Retrieved 2016-05-05.
  26. ^ FiscalNote (2016-03-01). "Former U.S. Army General Stanley McChrystal joins FiscalNote's board of directors". FiscalNote. Retrieved 2016-05-05.
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