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FiscalNote acquires geopolitical security company Dragonfly for risk decision making at blue-chip organizations

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FiscalNote Holdings, a pioneering AI-powered enterprise SaaS technology provider of market intelligence and global policy, recently announced the acquisition of Dragonfly Eye Ltd. (“Dragonfly”), a UK-based provider of geopolitical and security intelligence that offers actionable data and analysis through Dragonfly’s proprietary SaaS-based Security Intelligence and Analysis Service (SIAS) membership platform and API.

With locations in London, Singapore, and New York Dragonfly offers crisis management, security, and risk experts at top multinational corporations, public sector organizations, financial institutions, and NGOs real-time operational intelligence about ongoing and potential security risks to operations, risk rating systems around possible major disruptions, early warning detection as well as forecasting to anticipate threats, and access to crucial analysts and embedded experts. 90% of the top 11 banks in the world and roughly half of the top 30 FTSE-500 firms both use Dragonfly’s flagship SIAS platform.

Tim Hwang, Chairman, CEO, and Co-founder, FiscalNote said, “FiscalNote’s ambitious acquisition strategy continues to be fueled by a robust pipeline, with Dragonfly becoming our third announced M&A deal since our public listing. The addition of Dragonfly will power FiscalNote’s promising organic and inorganic revenue growth, broaden our global customer base, and provide significant upsell and cross-sell opportunities. Dragonfly’s recession-resilient and forward-looking solutions will help our customers advance business objectives while protecting their people, operations, assets, and brand with precision, leading to greater confidence and stability in a time of tumult and crises in every corner of the world.”

Dragonfly provides services to a global clientele that is confronted by previously unseen dangers and threats to the company’s operations and employees. These risks and threats can swiftly escalate to material concerns at the board level and demand constant, diligent monitoring. By providing a perspective view of global threats and risks for tactical and strategic decision-making, opportunity recognition, and risk reduction, Dragonfly offers answers. Dragonfly monitors risks to consumers from a variety of actors, from dependable people to terrorist organizations, including hostile intent and emotion, criminal threats, extremist propaganda, disclosure of sensitive or confidential data, and other dangers.

The extensive and industry-leading products and services offered by Dragonfly include:

  • Security Intelligence & Analysis Service (SIAS)
  • Terrorism Tracker
  • Protective Intelligence and Political Risk Advisory

The inclusion of Dragonfly improves FiscalNote’s clients and business in several ways:

  • A highly effective, recession-resistant, and reliable subscription-driven business, with double-digit, year-over-year growth, an average consumer lifespan of more than three years, a net customer retention rate that consistently exceeds 100%, and a globalized base of blue-chip clients in terms of geography and industry.
  • FiscalNote’s product toolset may be expanded and amplified through upsell and cross-sell opportunities, supporting the company’s “land-and-expand” approach and generating additional income opportunities.
  • The creation of an improved product combining Dragonfly’s risk and security intelligence expertise and FiscalNote’s Predata framework of security intelligence for clients in the private and public sectors.

 “We set out to find a partner who shared our vision for technology-driven, client-focused, actionable, and forward-looking intelligence, and we are delighted to be joining FiscalNote, which so closely mirrors our approach and aspirations. This combination significantly strengthens our ability to build upon our established reputation as a geopolitical and security risk intelligence service with FiscalNote’s technological expertise and exceptional stable of businesses focused on geopolitical and market intelligence,” commented Dragonfly’s CEO, David Claridge.

Dragonfly was acquired by FiscalNote for a price that was consistent with previous purchases made by the business. Regarding the transaction, BCPL served as Dragonfly’s only legal counsel and Cowen served as its sole financial advisor.

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