WASHINGTON--(BUSINESS WIRE)--FiscalNote, the Washington DC-based company dramatically improving the way organizations engage with government, today announced its largest quarter and customer win to date and continued to expand its industry-leading client success team.
“The growing scope and complexity of legislation and regulation can be suffocating. Modern government relations teams will spend nearly $2 billion this year trying to influence all levels of government in the U.S., and the inefficiency in current methods is alarming,” said Tim Hwang, co-founder and CEO of FiscalNote. “The interest we’re seeing from globally minded non-profits and corporations, for both products and premium services, is exceeding our expectations so we’re accelerating several aspects of our growth plan to help them extract maximum value from their government strategies.”
The company is seeing particularly strong interest from the healthcare, retail, and advocacy non-profits sectors. Nearly 200 organizations use the company’s proprietary tools and services. The largest customer to date - a national education-focused advocacy organization - is also adopting an increasingly important model for modern government engagement. The organization is simultaneously rolling out FiscalNote’s Government Relationship Management platform (FiscalNote GRM) to headquarters and regional teams.
“Technology and data have radically improved a number of markets, but government relations has been slow to adapt,” said Jerry Yang, founding partner of AME Cloud Ventures and co-founder of Yahoo! Inc. “FiscalNote’s platform brings both the technology and collective wisdom we gained through transforming other markets to the front end of the process. I’m positive that FiscalNote will enable rapid and smooth transformation of the government sector.”
FiscalNote’s Government Relationship Management platform (FiscalNote GRM) automatically tracks and analyzes data on more than 1.5 million active bills, more than 700,000 regulations, more than 19,000 legislators and their staffers, more than seven million comments, more than 6,000 watchlists, and more than 125,000 individual entities. Data is automatically collected from more than 150 sources at least four times every day.
Accelerating Client Success Team Growth
Also in response to growing customer demand, the company announced its Client Success offer now includes Strategic Advisory Services. The Client Success group provides premium consulting services that complement FiscalNote's proprietary software and analytics platform to create a total enterprise solution. The team has doubled in size over the past twelve months.
Joseph Fawkner will build and lead the Strategic Advisory Services (SAS) practice. SAS will integrate best practices for government affairs teams across client enterprises, including strategic initiatives such as Corporate Social Responsibility, stakeholder engagement, international market development, and general business development.
“We’re hearing from faster-moving clients that they have specific needs that require custom responses,” said FiscalNote’s Taj Chadha, who leads FiscalNote’s Client Success team. “For them, we’ll create approaches that maximize their influence to generate rapid and positive results.”
Fawkner previously served as Senior Director of International Development at the U.S. Chamber of Commerce, co-founded Long Bridge Capital, and was Executive Director of the Hong Kong-U.S. Business Council.
FiscalNote has reinvented influence – dramatically improving the way organizations build and manage their relationships with all levels of government, enabling them to have maximum impact on legislation and regulation. Using proprietary analytics and breakthrough machine-learning techniques, the company’s government relationship management platform (FiscalNote GRM) is now the most effective tool for influencing Federal, state and local governments. Contextual insights are delivered via elegant workflow and outreach tools that support an enterprise-based approach to modern government affairs – and the entire system learns over time. FiscalNote has raised more than $30 million from prominent early-stage investors including Renren, First Round Capital, Green Visor Capital, NEA, Visionnaire Ventures, Steve Case, Mark Cuban and Jerry Yang/AME Cloud Ventures. The growing number of enterprise companies – from startups through global multinationals – depending on FiscalNote include Aetna, Akin Gump, Amazon, AstraZeneca, Blue Cross Blue Shield, BristolMyers Squibb, Expedia, HealthSouth, Lyft, Microsoft, SallieMae, Salesforce, Schlumberger, Southwest Airlines, Staples, Tate Incorporated, VMWare, and Walgreens. Non-profits and advocacy groups relying on FiscalNote include the Association of Global Automakers, the Boys & Girls Clubs of America, Code.org, the Information Technology Industry Council, the Natural Resources Defense Council, the Republican and Democratic Governors Associations, and the University of Virginia’s Law School. FiscalNote is a 2016 World Economic Forum Technology Pioneer and founder Tim Hwang is a WEF New Champion.