Built to outlast.
Your policy-intelligence vendor shouldn't need a restructuring plan. Ila is independent, debt-free, and founder-led — the kind of vendor procurement can actually say yes to.
Four things procurement will ask about
Independent
No outside investors. No board pressure to exit. No acquisition timeline we're optimizing against. Product decisions start and end with what customers need.
Debt-free
Zero debt on the balance sheet. We don't owe anyone $141 million. We don't have a quarterly interest payment that shapes our roadmap. Every dollar of revenue funds product work, not lenders.
Founder-led
The people building the product answer the support emails. No account-executive churn, no handoff from sales to customer success to retention. You talk to the same people at year one as at year five.
SOC 2 in progress
Full policy set shipped — information security, change management, incident response, vendor risk, access control, business continuity. Continuous-monitoring tool and external pen test are the next two items on the security roadmap.
Vendor viability, by the public record
| Ila | The large incumbent | |
|---|---|---|
| Ownership | Founder-owned, private | Public; delisted from the NYSE in April 2026, now trading OTC |
| Debt load | $0 | ~$141M outstanding |
| Recent restructurings | None | 25% workforce reduction announced April 2026; product-line wind-downs |
| Who you talk to | The founder and the engineers | Account executive → CS manager → renewals specialist |
| Data retention policy | Forever; nothing deleted | Per-tier retention; data access tied to active subscription |
Public facts sourced from FiscalNote's SEC filings, their April 2026 delisting announcement, and their subsequent restructuring releases. We name no names in the table — procurement can ask us directly.
What we commit to, in writing
Nothing is ever deleted
Every article, snapshot, and audit log persists forever. When a source goes down, we keep our cache. When a bill is reintroduced three sessions later, the history is still there.
Public data stays free
Our `/api/v1` surface over public legislative data is free and will stay free. We make money on private data (your portfolio, your team, your alerts), not by gating the public record.
Transparent pricing
Published tiers, published rate limits, published fair-use. No 'call for quote' until you're at a scale where the call actually helps you.
No fire-sale exit
We're not building to flip. If you've been burned by a vendor getting absorbed into a GRC suite (or a compliance vendor, or a data cooperative), that path isn't on our table.
Security & compliance posture
Full SOC 2-style policy set is live: information security, change management, incident response, vendor management, access control, business continuity, data classification, and acceptable use. Continuous-monitoring tool adoption and an external pen test are the next two items on the security roadmap. Our privacy and data-handling stance is published and versioned.
Ready for a vendor you don't have to worry about?
Start free, no credit card. Or email the founder directly and get a straight answer about what we do and don't cover.