TweetMinster aggregates the Twitter streams of members of Parliament, prospective candidates, the major political parties, government departments and Downing Street. It also claims to have a "secret sauce" to capture relevant conversations going on in Twitter pertaining to UK politics.
There are also plans to launch premium services.
TweetMinster carries a list of all the MPs who are presently on Twitter, including Labour MPs Tom Watson, who has almost 3,000 followers, and Kerry McCarthy who has 670.
It allows users to search for MPs by name, constituency or postcode, highlighting the topics most concerning the Westminster lobby in real time and letting users see who the most active tweeters are.
Alberto Nardelli, co-founder of TweetMinster, said: "By using the power of Twitter, the application aims to foster an unprecedented community around politics in the UK and at the same time provides professionals and politicians with tools to engage, track and analyse political conversations in real time.
"You can think of it as a 'social Bloomberg for UK politics' that aims to improve political communications by empowering voters, politicians and professionals that operate in the sector."
The service is free to use.