FiscalNote Announces Strategic Commercial Partnership to Accelerate Company’s Global AI Co-pilot Program
December 11 2023 - 7:00AM
Business Wire
Strategic Investment and Partnership
Bolsters FiscalNote’s Balance Sheet and Furthers Adoption of
FiscalNote’s AI Co-pilots
FiscalNote Holdings, Inc. (NYSE: NOTE) ("FiscalNote"), a leading
AI-driven provider of policy and global intelligence, today
announced a commercial partnership with Era Global Technologies,
LLC (“Era”), a technology-focused investment firm backed by
leading, closely-held family enterprises. This marks continued
support from an early-stage investor and strategic advisor to the
Company who has been closely aligned with FiscalNote for over five
years.
Era’s dedicated value-creation platform, Era Catalyst, will be a
foundational channel partner, providing distribution support for
FiscalNote’s recently-announced AI Co-pilot program. Era will
provide referral services into their extensive network to
accelerate sales and introduce FiscalNote’s proprietary AI products
in the legal and regulatory space to several of the world’s largest
conglomerates. Through these referrals, FiscalNote will drive
further AI innovation augmented by input from Era’s network of
family-owned enterprises, including large European and Asia-based
multinational chemical and consumer goods conglomerates which
operate across 19 countries and 25 industries. The collaboration is
expected to enable FiscalNote to accelerate its ongoing growth and
expansion strategy, advance new product development, and optimize
sales and marketing efforts.
In connection with the agreement, Era’s investment vehicle,
EGT–East, is investing $5.5 million in FiscalNote in the form of a
convertible subordinated promissory note, with the potential for up
to an additional $2.0 million. The strategic investment will, in
part, fund further capital expenditures and development of
FiscalNote’s next generation of AI Co-Pilot capabilities, inclusive
of deployments into Era’s network of global companies. The terms of
the promissory note are further described in FiscalNote’s Current
Report on Form 8-K filed with the Securities and Exchange
Commission on December 11, 2023.
“We are delighted to have Era as a foundational partner in our
mission to extend the power of AI-driven policy and global
intelligence to businesses and organizations around the world,”
said Josh Resnik, President and COO, FiscalNote. “This investment
is a testament to the industry-leading and innovative nature of our
technology and our potential to transform the way businesses
operate by leveraging our longstanding pedigree and leadership in
AI. We are especially excited that this investment will galvanize
and accelerate our product development and go-to-market strategy
for our AI Co-pilot program, which is positioned to revolutionize
the legal, regulatory, and legislative domain. Our Co-pilot program
marks yet another development in FiscalNote’s ongoing leadership as
we innovate and bring to market more AI-enabled solutions aimed at
the legal and regulatory sector, while providing incremental growth
opportunities to complement our proven, durable base of recurring
revenue solutions.”
FiscalNote’s AI Co-pilots are new AI solutions customized for
policy and risk management professionals to facilitate their
day-to-day work such as key tasks related to legislation, advocacy,
constituent communications, regulatory responses, and global risk
analysis. FiscalNote’s Co-pilots will combine the power of large
language models, FiscalNote’s trusted industry leading policy and
geopolitical data, and customers’ data, all in a seamless workflow
to provide intelligent assistance for the world’s most important
decision makers. By deploying FiscalNote’s AI Co-pilots, customers
will be able to automate tasks, improve decision-making, and
increase productivity and efficiencies – driving value and results
across the enterprise.
About FiscalNote
FiscalNote (NYSE: NOTE) is a leader in policy and global
intelligence. By uniquely combining data, technology, and insights,
FiscalNote empowers customers to manage political and business
risk. Since 2013, FiscalNote has pioneered technology that delivers
critical insights and the tools to turn them into action. Home to
CQ, FrontierView, Oxford Analytica, VoterVoice, and many other
industry-leading brands, FiscalNote serves approximately 5,000
customers worldwide with global offices in North America, Europe,
Asia, and Australia. To learn more about FiscalNote and its family
of brands, visit FiscalNote.com and follow @FiscalNote.
About Era Global Technologies
Founded by Jasper Lau, Era is a global investment firm backed by
leading closely-held family enterprises across 19 countries and 25
industries. Era harnesses the collective knowledge, corporate
intelligence, and strategic capital of the firm's families to build
and back transformative, category-defining technology
companies.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231211779152/en/
Media Nicholas Graham FiscalNote press@fiscalnote.com
Investor Relations Sara Buda FiscalNote
IR@fiscalnote.com
FiscaNote (NYSE:NOTE)
Historical Stock Chart
From Aug 2024 to Sep 2024
FiscaNote (NYSE:NOTE)
Historical Stock Chart
From Sep 2023 to Sep 2024