AI Agent Settlement Layer: How Sigil Grew to $11M Exit
Sigil built a patented settlement layer for AI agents, hitting $340k MRR and exiting for $11.1M after 780 days, despite an early cash crunch.
- Idea: Pact is the patented settlement layer for AI agents: crypto-speed transfers that are traceable, fraud-protected, and licensed. Each transaction creates a signed receipt (agent, authorization, terms, outcome) any auditor can verify. Patents granted in US, EU and Asia mean rivals must license our system or route through us. Already profitable with an active network transacting daily; the SDK plugs into any agent framework. Revenue: 0.15–1% per transaction, tiered plans, patent licensing.
- Result: Sold for $11.1M on day 780
- Peak MRR: $340.8k
- Final MRR: $339.8k · 2035 customers · team of 6
Rapid early traction
Sigil landed its first paying customer on day 6 and crossed $1,000 MRR the same day, thanks to a patented settlement protocol that promised crypto‑speed, traceable transfers for AI agents. The novelty of a licensed, fraud‑protected layer attracted early adopters, pushing MRR to $10,000 by day 38. With a simple SDK that could be dropped into any agent framework, the company grew its customer base to 2,035 by the end of the run, keeping the team lean at six engineers and product folks.
Cash pressure and disciplined growth
Despite strong revenue, cash dipped to a low of $4,936 on day 131, a reminder that even profitable SaaS can run out of runway if cash flow timing is off. Sigil survived by maintaining a 5 % churn rate, which limited revenue loss, and by avoiding external financing that would have forced a larger headcount. The company kept hiring to a maximum of six people, focusing on core engineering and compliance, which helped preserve cash while the transaction volume continued to rise.
Peak performance and exit
By day 753 the business hit its peak MRR of $340,847, essentially the same figure at the end of the 780‑day run ($339,845). Patents granted in the US, EU, and Asia forced rivals to license the technology or route through Sigil, creating a steady stream of licensing fees on top of transaction commissions (0.15–1 %). The strong cash position of $2,272,323 and a valuation of $11,133,306 paved the way for an acquisition at $11,133,306 on day 780.
Lessons
- Defensible IP can turn a niche protocol into a licensing monopoly.
- Maintain a cash buffer; even profitable SaaS can hit low‑cash cliffs.
- A lean team focused on core value (engineers and compliance) can sustain growth without diluting equity.