US-headquartered risk information provider FiscalNote secured $160m in debt and equity financing on Friday from investors including social media company Renren and Renren’s largest shareholder, telecommunications and internet group SoftBank.
Growth equity firm Arrowroot Capital and venture debt provider Runway Growth Capital co-led the round, which also featured media company The Economist Group, law firm Jipyong and S&P Global Ventures, the investment vehicle for credit ratings provider S&P Global.
New investors GPO Fund, 8090 Partners, Tech Pioneers Fund, Rise of the Rest, Nautilus Ventures, Voyager Capital, Regal Funds Management, Lakebridge Equity Partners, PGS Korea, Firetrail Investments, Thorney Investments, Escondido Ventures and Pure Asset Management also supplied cash.
The round was filled out by existing backers Visionnaire Ventures, Green Visor Capital, Winklevoss Capital Management, First Round Capital’s Dorm Room Fund and New Enterprise Associates (NEA) together with a range of individual investors.
FiscalNote supplies detailed political and regulatory intelligence to a base of some 4,000 customers to help them predict and manage risk. It will channel the funding into enhancing its technology and expanding its range of services.
The company had previously raised just over $28m since being founded in 2013, including $10m in a 2016 series C round co-led by Visionnaire Ventures and Green Visor Capital that also featured Renren.
NEA, 645 Ventures, Plug and Play, SF Capital, Perle Ventures and Conversion Capital also participated in the series C round, as did angel investors Jerry Yang and Mark Cuban – both of which also contributed to the latest round.
Renren had supplied $10m in series B funding for FiscalNote the previous year. Its earlier investors include Visionnaire Ventures, NEA, Winklevoss Capital, Enspire Capital, Green Visor Capital, Middleland Capital, Jerry Yang’s AME Cloud Ventures and Mark Cuban.
