FiscalNote Announces Acquisition of Artificial Intelligence Company Forge.AI
Cambridge, Massachusetts-based technology company to expand FiscalNote’s unstructured data analysis capabilities
WASHINGTON, DC – September 15, 2021 – FiscalNote, a leading technology provider of global policy and market intelligence, announces its acquisition of Forge.AI, Inc., a Cambridge, Massachusetts-based technology company that transforms unstructured data into structured, enriched, and computationally-ready intelligence for some of the largest and most sophisticated financial institutions in the world.
Founded in 2017 by Jim Crowley, Jack Crowley and Jennifer Lum, Forge accelerates the production of clients’ analytics, machine learning models, and predictive intelligence while reducing overall data management expenses. Forge’s Anvil platform enables banks, asset managers, and hedge funds to better identify and model risk. Easily accessible via customers’ existing cloud infrastructure, analytical and business intelligence solutions, and APIs, Anvil empowers organizations to quantitatively discover and track critical company, industry, economic, and geopolitical changes and trends.
“Forge is unique in its ability to collect and transform external data to enable human and algorithmic decision-making,'' said FiscalNote founder and CEO, Tim Hwang. “We’re excited about collaborating with Jim and the Forge team to not only expand FiscalNote’s product and data offerings, but also diversify our delivery channels.”
According to the International Data Corporation (IDC), 80% of global data will be unstructured by 2025. As FiscalNote clients diversify and globalize their operations, the need to more quickly ingest, understand, and act on a wider variety of data sources will be critical to keep up with evolving political, regulatory, and market activity around the world.
“Enabling customers to engage with information and data across new and unique dimensions at a difficult-to-achieve scale has been our north star since founding,” said Forge co-founder and CEO, Jim Crowley. “It was very clear to us that the merger of our core unstructured data capabilities with FiscalNote’s existing suite of data and processing technologies would create novel products for new and existing customers. We’re excited by what the future holds for this partnership.”
FiscalNote continues to embark on an aggressive growth strategy that includes blending investment in its core technologies and capabilities with acquiring companies that either bolster its current technological capabilities or expand on the data and content it already serves customers. Through acquisitions of Predata, Oxford Analytica, Curate, and TimeBase this year, FiscalNote has increased the data and intelligence it serves clients, while acquisitions of Fireside, Board.org, and Equilibrium have advanced the breadth of services and technology it offers.
The mission of Forge.AI is to help customers make the best analytically informed decisions possible. By capturing the global flow of unstructured data and transforming it into computationally consumable, structured knowledge, its products empower data scientists and analysts to see and model the world in new ways and with greater velocity. Forge’s long-term vision is to enable our customers to automate or augment key aspects of their analytical, reasoning and decision-making processes.
FiscalNote is a premier information services company focused on global policy and market intelligence. By combining AI technology, expert analysis, and legislative, regulatory, and geopolitical data, FiscalNote is reinventing the way that organizations minimize risk and capitalize on opportunity.
Home to CQ, Roll Call, Oxford Analytica, and VoterVoice, FiscalNote empowers more than 5,000 clients worldwide to monitor, manage, and act on the issues that matter most to them. To learn more about FiscalNote and its family of brands, visit FiscalNote.com and follow @FiscalNote.