FiscalNote sells policy and regulatory intelligence to organizations that need to track and respond to legislative and regulatory developments. Its flagship product, PolicyNote, is a subscription platform that aggregates legislative and regulatory data from local, state, and federal governments in the U.S. and internationally, overlays it with AI-powered monitoring, and packages it with expert analysis from CQ and Roll Call, FiscalNote's Capitol Hill newsrooms. Customers include global enterprises, government agencies, law firms, trade associations, and non-profits across more than 40 countries. FiscalNote also offers VoterVoice, a grassroots advocacy tool for running campaigns and engaging with lawmakers, and FrontierView, a market intelligence service for multinationals in emerging markets. FiscalNote generates roughly 93% of revenue from subscriptions, with pricing tied to data coverage scope, user count, and product features. The business carries high gross margins, consistent with a software and data model. FiscalNote grew through acquisitions from 2017–2023, completing 16 deals, then reversed course by divesting non-core businesses and cutting headcount. PolicyNote, launched in January 2025, consolidates FiscalNote's historically fragmented product portfolio onto a single platform. FiscalNote is also productizing its policy data as agentic APIs, targeting organizations that want to build internal AI tools using FiscalNote's data rather than subscribing to a SaaS platform.
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