FiscalNote Announces Strategic Commercial Partnership to Accelerate Company’s Global AI Co-pilot Program

Rhea-AI Summary

FiscalNote Holdings, Inc. (NYSE: NOTE) announced a commercial partnership with Era Global Technologies, LLC, backed by leading family enterprises. Era will invest $5.5 million in FiscalNote, potentially up to an additional $2.0 million, to accelerate growth, product development, and go-to-market strategy for the AI Co-pilot program. The partnership aims to introduce FiscalNote's AI products to large conglomerates, particularly in the legal and regulatory space, and drive further AI innovation. FiscalNote's AI Co-pilots are designed to assist policy and risk management professionals in automating tasks, improving decision-making, and increasing productivity and efficiencies.

Strategic Investment and Partnership Bolsters FiscalNote’s Balance Sheet and Furthers Adoption of FiscalNote’s AI Co-pilots

WASHINGTON--(BUSINESS WIRE)-- 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

Source: FiscalNote

FAQ

What is the commercial partnership announced by FiscalNote Holdings, Inc. (NYSE: NOTE)?

FiscalNote announced a commercial partnership with Era Global Technologies, LLC, to introduce FiscalNote's AI products to large conglomerates, particularly in the legal and regulatory space, and drive further AI innovation.

How much is Era Global Technologies, LLC investing in FiscalNote Holdings, Inc. (NYSE: NOTE)?

Era is investing $5.5 million in FiscalNote, potentially up to an additional $2.0 million, to accelerate growth, product development, and go-to-market strategy for the AI Co-pilot program.

What are FiscalNote's AI Co-pilots designed for?

FiscalNote's AI Co-pilots are designed to assist policy and risk management professionals in automating tasks, improving decision-making, and increasing productivity and efficiencies.