New York Stock Exchange-listed Chinese social networking firm Renren Inc. has led a US$10 million series B financing in Washington, D.C.-based big data legislation forecast start-up FiscalNote, Inc., according to a company announcement.
Existing investors Visionnaire Ventures, New Enterprise Associates, Yahoo co-founder Jerry Yang’s AME Cloud Ventures, former CEO of America Online Steve Case, and billionaire entrepreneur Mark Cuban also participated in the round.
“FiscalNote is the future of cutting-edge, open data engineering and analytics,” says Renren’s chairman and CEO, Joseph Chen, “We are excited to partner with them as they rapidly expand into new markets.”
The company previously received US$7 million Series A funding in November 2014 led by Visionnaire Ventures, a joint fund between Japanese businessman Taizo Son and Temasek Holdings, Singapore’s sovereign wealth fund.
Other investors included Jerry Yang’s AME Cloud Ventures, NEA, Winklevoss Capital, Enspire Capital, Green Visor Capital, and Middleland Capital.
In 2013, the company raised US$1.3 million angel investment from Mark Cuban, Jerry Yang, NEA, and First Round’s Dorm Room Fund.
Founded in June 2013, FiscalNote uses data-mining software and artificial intelligence to predict legislators’ votes and the success or failure of bills. Now the company has grown up with new team members in Washington, DC and New York City.
In January 2015, Renren invested US$40 million in California-based stock trading website Motif Investing to assist the company in its international expansion.
In November 2014, Hong Kong-based mobile app maker GoGoVan received US$10 million series B financing from Renren.