Bringing together U.K.-based Oxford Analytica with U.S.-based FiscalNote will bring Oxford Analytica’s extensive subject-matter expertise together with FiscalNote’s robust suite of AI-enabled legislative and regulatory services and products, according to the press release. The combination of Oxford Analytica’s in-depth, event-driven Daily Brief analysis with FiscalNote’s technology will deliver an enhanced range of trusted solutions to clients across both companies. For the academic community, Oxford Analytica's daily Expert Briefings are also available exclusively through Emerald Publishing's Emerald Insights.
FiscalNote is a much newer company than Oxford Analytica. It was founded in 2013 by Tim Hwang to bring the power of machine learning and natural language processing to U.S. legislative and regulatory data, at all levels of government—local, state and federal. It has rapidly expanded its international presence and now has offices in Belgium, India, South Korea and Hong Kong. FiscalNote provides its customers not only with software solutions but also data and policy insights around legislative and regulatory tracking, stakeholder management, global risk intelligence, and advocate engagement. To enhance its content offerings, in 2018 it bought CQ Roll Call from the Economist Group and Brussels-based Shungham, publisher of EU Issue Tracker. Although it specializes in analysis of risk and policy issues, it still defines itself as a "global technology company".
Oxford Analytica predates FiscalNote by almost 40 years, having been founded in 1975 by David Young. His son and namesake, David K. Young is the current CEO. The company's origins are firmly tied to the University of Oxford and even in 1997, according to founder Young, the daily briefings started with an in-person meeting of Oxford dons "Behind the Scenes at Oxford Analytica: A Conversation with David Young, Managing Director" DATABASE, v. 21 no. 6, December 1998, pp. 27-30). As the company expanded to its current global network of over 1,500 experts, those morning meetings no longer occur solely in Oxford.
Oxford Analytica provides customised consulting services to a wide clientele of companies and governments in addition to its published analyses of geopolitical issues. Note that not all the scholars, former policymakers, regulators and industry leaders who are tapped by Oxford Analytica for their expert opinions are mentioned by name on its website, as some prefer to remain anonymous to ensure confidentiality and impartiality.
Speaking about the merger with FiscalNote, CEO Young commented, “We at Oxford Analytica are proud to be joining forces with FiscalNote, where together we can identify and address the most pressing issues facing government, business and society. FiscalNote values our Founding principles, as well as our dedication to editorial integrity and independence, and will propel our services with its cutting-edge technological innovation. Together, we are certain to reinvent the way global organizations understand the bigger picture.”
Young continued, “I am incredibly proud of what this company has accomplished in the last 46 years. I am sure that when my father founded Oxford Analytica in 1975 ‘to bring truth to power’, he didn’t imagine how respected and instrumental it would become within the international community. It has been one of the greatest honours of my life to run Oxford Analytica and I am excited about how this next step in the company’s trajectory will bring significant value to our clients.”
Hwang commented, “At FiscalNote, we’re firm believers in the power of pairing high quality, in-depth analysis with groundbreaking technology. Oxford Analytica has earned its stellar reputation as the pioneer of geopolitical risk analysis, and we’re thrilled to combine forces in expanding and deepening the reach of our products and services around the world.”
Although financial terms of the acquisition were not made public, FiscalNote secured $160 million from Arrowroot Capital and Runway Growth in December 2020 and issued fresh equity to the tune of $10.5 million. It probably used some of this money to fund its January 2021 acquisition of FactSquare, a Washington DC transcription firm.
For further information about FiscalNote's acquisition of Oxford Analytica, contact Amy Hewick, Head of Events and Marketing, Oxford Analytica, conference@oxford-analytica.com or Mike Stubbs, Vice President, Operations & Head of Corporate Communications, FiscalNote, press@fiscalnote.com