Cloud Pinup: FiscalNote – LegalTech And Big Data »

The United States operates under a Federal government system, which means that states and local governments have a lot of authority when it comes to setting the law of the land. We’re not here to give you a civics lesson, of course, but this point is essential for understanding what makes FiscalNote such an interesting company.

FiscalNote focuses on organizing, digesting, and presenting the vast wealth of regulatory and legal data out there, and given the multiple levels of government in the United States, there’s a ton of data. Federal laws, state laws, local laws, Federal agency regulations, state agency stipulations, on and on the list goes.

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Quite simply, the amount of data can be overwhelming. With FiscalNote, however, you can use the company’s services to quickly and easily sort this vast wealth of data. The company offers three different services, Prophecy, Sonar, and Atlantis, that help clients sort through legislative data, Federal regulatory data, and state regulatory data respectively. True, most of the information FiscalNote presents can actually be found online for free, but sorting through government laws and regulations can be tedious and confusing work, and even the best experts are prone to mistakes.

FiscalNote can compile and analyze huge amounts of data, and make it very easy for analysts to understand. The services also gather a huge amount of data from the far flung reaches of the American bureaucracy and gather it all in one place. As a result, FiscalNote’s services offer a huge amount of value for organizations and people dealing with government regulations and laws.

Given how much value FiscalNote adds it should come as no surprise that the company has emerged as one of the fastest up-and-coming tech startups. Originally founded in June of 2013 out in Silicon Valley, FiscalNote is now based out of Washington D.C.

FiscalNote has had no trouble drumming up cash, only two months after its founding, the company secured $1.2 million dollars in seed funding. Since then, the company has raised an additional $17 million dollars through its Series A and Series B funding rounds. Notable investors include Mark Cuban, New Enterprise Associates, and Renren.

FiscalNote was founded by Tim Hwang, Gerald Yao, and Jonathan Chen. All three were friends in high school and retain control of the company’s top management positions. The rest of the team is filled out with a wide range of industry experts.

By Brian Brinker

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