TACITA
TACITA
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THE PROBLEM

Lawyers already use AI. Firms can't approve it.

INDIVIDUAL USE61–89%
A consistent pattern across eight jurisdictions: practitioners already work with AI
FIRM DEPLOYMENT11–46%
Privilege and compliance risk blocks procurement — and the scissors are closing
0255075100%
World's first AI-related practice restriction on a lawyer (Australia, Sep 2025)
UK SRA warns privilege can be permanently lost; 42 AI-misuse reports in one year
PI insurers issue AI exclusion endorsements — the buying trigger has been pulled
Shadow AI: 78% of AI users bring their own AI to work · sensitive share of corporate data pasted into AI rose 34.8% → 39.7% · 20% of breach incidents involve unapproved AI use, 670,000 USD more per incident [F]
Demand isn't missing. The compliant channel is. Tacita is that channel.
[F] Compiled from regulatory & industry sources across eight jurisdictions; available in the data room
問題 PROBLEM

律師已在用 AI,機構未敢批准。

個人採用61–89%
八個法域趨勢一致:前線從業員已在日常工作中使用 AI
機構部署11–46%
合規與特權風險窒礙正式採購,剪刀差持續收窄
0255075100%
全球首宗律師 AI 執業限制處分(澳洲,2025-09)
英國 SRA 警示:特權可永久喪失;一年內 42 宗 AI 濫用報告
PI 保單增設 AI 除外條款——採購誘因已成事實
影子 AI:78% AI 用戶自攜工具工作 · 貼入 AI 的企業數據中敏感資料佔比由 34.8% 升至 39.7% · 20% 資料外洩事件涉及未經批准的 AI 使用,該等事件成本高出 670,000 USD [F]
問題不在需求,而在缺乏合規通道。Tacita 正是這條通道。
[F] 八個法域監管及行業資料彙編,盡職審查資料室可供查閱
TACITA · PITCH DECK02 / 18
CASE LAW

Sanctions are now facts.

2023-06
Mata v. Avianca (S.D.N.Y.) — Rule 11 sanctions US$5,000 — six ChatGPT-fabricated cases filed
2025-06
R (Ayinde) v Haringey; Al-Haroun [2025] EWHC 1383 — £1,500 wasted-costs order + referral to Bar Standards Board
2025-09
Victoria Supreme Court (Melbourne, ordered 2024-10) — practice-certificate conditions (barred as principal) — the world's first AI practice restriction
2025-08
Western Australia lawyer (Federal Court) — "using AI to check AI" still failed — referred to regulator
HK / SG
Hong Kong / Singapore — gap: no public AI sanction — the education window
The common sanction logic is "failure to verify," not "using AI" — a mandatory human gate plus an audit chain answers both risks.
THE REAL COST OF DIY
Manual redaction + free model: ≈26–96 USD per document [A], no audit trail — Personal at 399 USD/yr ≈ less than two DIY documents a month. Lost billable capacity: ≈21,800–41,000 USD/yr per lawyer [A].
判例線

處分已由概率變成事實。

2023-06
Mata v. Avianca(S.D.N.Y.)——Rule 11 罰款 US$5,000,提交 ChatGPT 虛構的 6 宗案例
2025-06
R (Ayinde) v Haringey;Al-Haroun [2025] EWHC 1383——大律師被處 £1,500 浪費訟費令,並轉介 Bar Standards Board
2025-09
維州最高法院案(墨爾本,2024-10 判令)——執業證書附帶條件(不得擔任 principal),全球首宗 AI 虛構引文執業限制處分
2025-08
西澳律師(聯邦法院)——「以 AI 核查 AI」仍有失誤,轉介法律專業監管機構
港 / 新
香港 / 新加坡——缺口:兩地均無公開涉 AI 處分,香港仍處於市場教育窗口
處罰邏輯的共同性 = 「未有核實」而非「使用 AI」——人手覆核閘連同審計鏈,正好同時回應虛構引文與保密兩類風險。
人手處理(DIY)的真實成本
人手遮蔽配合免費模型:每份約 26–96 USD [A],且無審計紀錄——Personal 年費 399 USD,低於每月兩份文件的人手處理隱含成本。每名律師每年被非計費工作佔用的計費產能達 約 21,800–41,000 USD [A]。
TACITA · PITCH DECK03 / 18
THE PRODUCT

Safety you can see.

Two-zone presend preview
Local pseudonymization core — a five-layer hybrid detection pipeline, fully offline
Judgment returned to the user — manual supplementation, de-selection, cross-file sync; nothing ships until confirmed
Two-zone preview — cleartext left, pseudonyms right: see exactly what the model will see
產品 PRODUCT

安全,清晰可見。

雙區出站前預覽
本地假名化引擎——五層混合式識別流程,可完全離線運作
裁量權交還用戶——人手補充、取消選取、跨文件同步,確認後方可出站
雙區預覽——左為原文、右為假名,出站前清楚顯示模型實際所見
TACITA · PITCH DECK05 / 18
THE PRODUCT

Interface as compliance statement.

Review workbench
Review workbench — 15 entity types highlighted by type, grouped entity list with counts, audit preview always on
Human review gate
Human review gate — no 100% algorithm-coverage promise; the final call is the user's; review decisions are audit-logged
Real product screenshots, synthetic demo documents — every redaction, restoration and export lands in an append-only hash-chained log (proof-lite audit)
產品 PRODUCT

界面即合規聲明。

識別審查台
識別審查台——15 類實體按類型標示,附分類清單及常駐審計預覽
人手覆核閘
人手覆核閘——演算法覆蓋率不作 100% 承諾,最終裁量權在用戶,裁量紀錄納入審計
真實產品截圖,合成演示文件——每次去識別化、還原及匯出均記錄於只可附加的雜湊鏈(proof-lite 審計)
TACITA · PITCH DECK06 / 18
VALIDATION · ENGINE

Engine quality is verifiable, not asserted.

Generic baseline — same corpus, same scoring
0.2778
Tacita frozen baseline — third-party reproducible
0.9316
Production engine
0.9658
Candidate — registered per generation
0.9701
00.250.500.751.00
High-risk entity recall — the compliance-critical metric for a redaction product
1500test cases all green
139merges, zero rollbacks
8-gateCI enforcement
≈70%to sellable-scope feature complete
100% publiccorpus, per-document ledgers
Voluntary disclosure: 0.9316 is engineer self-scored — external statements follow the 15-advisor blind review (not yet unblinded); a public blind test vs Microsoft Presidio is committed; "saleable quality bar" is defined by the market, not by us.
驗證 × 引擎

引擎質素走可核證路線。

通用基座——同一語料、同一評分準則
0.2778
凍結基準——第三方可重複驗證
0.9316
現役引擎
0.9658
候選版本——逐代登記
0.9701
00.250.500.751.00
高風險實體召回率——去識別化產品的合規關鍵指標
1500測試用例全綠
139次合併零回退
八重CI 強制關卡
約七成可銷售口徑研發進度
全公開來源語料 · 逐份合規清冊
主動披露:0.9316 為工程師自評數據——對外質素基準須以 15 位法律顧問盲評結果為準(尚未解盲);並已承諾與 Microsoft Presidio 進行公開盲測;「可銷售質素線」的定義權在市場,而非我方。
TACITA · PITCH DECK07 / 18
WHY NOW

Three lines hardening in one window.

1
Regulation line — rules becoming procedural. Technical-safeguard duties move from outcome liability to process liability; process logging is the evidence form of that era — Tacita's product shape. ABA Model Rule 1.6(c) · IESBA technology revisions (2024-12-15) · SRA warning (2026-08) · Singapore Courts / MinLaw guidance (2024-10 / 2026-03) [F]
2
Case-law line. Sanctions, warnings and insurance exclusions landed densely across 2023–2026 — confidentiality duty + professional responsibility + OCG + PI exclusions already form a de facto "quasi-export-control", independent of PDPO §33.
3
Supply line. Top players are all cloud; Harvey / Legora landed Singapore in 2026 — educating the market while structurally unable to enter the 399–2,999 USD band. ≈18-month category mindshare window [A].
The window in one line — regulatory pressure × individual adoption, converging in the same 24 months.
時機 WHY NOW

三條主線同步成形。

1
監管主線(規則成文化)。技術保障義務正由「結果責任」走向「過程責任」;過程責任時代的證據形態正是過程紀錄,亦即 Tacita 的產品形態。 ABA Model Rule 1.6(c) · IESBA 技術修訂(2024-12-15 全球生效)· SRA 警示(2026-08)· 新加坡法院 / MinLaw 指引(2024-10 / 2026-03)[F]
2
判例主線。處分、警示及保險除外條款於 2023–2026 年密集落實——保密義務、專業責任、OCG 及 PI 除外條款已構成事實上的「準跨境傳輸管制」,且不依賴 PDPO §33 生效。
3
供給主線。頭部供應商全數雲端化;Harvey / Legora 於 2026 年落戶新加坡——在教育市場之餘卻無法觸及 399–2,999 USD 價格帶;約 18 個月品類認知窗口 [A](與市場投放預算 30% 掛鈎)。
窗口期的本質:監管收緊 × 個人滲透,於同一個 24 個月內交匯。
TACITA · PITCH DECK08 / 18
THE MARKET

A sharp wedge, a wide tailwind.

T1 · TAM 6.04M USD / yr
8,415 lawyers × ≈718 USD [A] · new-pricing view 4.0–5.95M USD (= HK$31.2–46.4M), two calibers [A]
T2 · SAM 2.50M USD
740 fit firms × 4 seats × ≈718 USD + 36 mainland-background firms × ≈10,250 USD
T3 · SOM 0.75M USD
FY3 ARR-anchored (≈30% of SAM) · static floor ≈0.46M USD
≈4.68M USD Singapore (= HK$36.47M)
1,107 firms / 6,512 practising lawyers [F]; PSG channel subsidizes up to 70%; the world's densest AI-governance guidance — the committed dual-entity springboard
1.4–4.6B USD legal-AI base · five calibers
Bottom-up cross-check: ~1.92–2.10M lawyers × 5–10% paid penetration × 800–2,000 USD ARPU ≈ 0.77–4.2B USD/yr [A] — Hong Kong T1 is 0.13–0.78% of the global pool
Hong Kong Singapore UK / AU NA / EU
All amounts in USD; HKD converted at the 7.8 peg — case fines quoted in original currency.
市場 MARKET

小切口,大順風。

T1 · TAM 約 604 萬 USD / 年
8,415 名私人執業律師 × 約 718 USD [A] · 新定價口徑 400–595 萬 USD(=3,120–4,641 萬港元)並列計算 [A]
T2 · SAM 約 250 萬 USD
740 間合適律師事務所 × 4 席位 × 約 718 USD + 36 間內地背景律師事務所 × 約 10,250 USD
T3 · SOM 約 75 萬 USD
按 FY3 期末 ARR 倒推(約為 SAM 30%)· 靜態底線約 46 萬 USD
約 468 萬 USD 新加坡(=3,647 萬港元)
1,107 間律師事務所 / 6,512 名執業律師 [F];PSG 渠道資助最高可達 70%;全球最密集的 AI 治理指引——既定雙主體跳板
14–46 億 USD 法律 AI 五口徑基期
自下而上交叉驗證:八個法域約 192–210 萬名律師 × 付費滲透率 5–10% × ARPU 800–2,000 USD,每年約 7.7–42 億 USD [A]——香港 T1 僅佔全球市場 0.13–0.78%
香港 新加坡 英/澳 北美/歐盟
金額均以 USD 表示,港元按 7.8 聯繫匯率折算;案例罰款保留原文幣別。
TACITA · PITCH DECK09 / 18
CATEGORY

The category endgame = data sovereignty — a bigger tailwind than legal AI.

80B USD +35.6%
Sovereign-cloud IaaS, 2026 (Gartner) [F]
487B USD 2026
Global AI infrastructure spend (IDC) [F]
~1.5B USD ~16% CAGR
Data-masking market alone — pure redaction tools are a slow track
Accountants
HKICPA >47,000 [F]
First: one IESBA script works across institutes
Compliance officers
SFC ~3,300 licensed corporations · US 433,200 [F]
Enterprise second wave — shared sales resources
Insurance underwriters
US 125,600 · IA GL31 + PIC approval [F]
Third: local pseudonymization cuts approval friction
Company secretaries
TCSP 6,899 licensed [F]
Low-price high-frequency entry: Team 2,999 volume play
Family offices
HK 3,384 single FOs (Deloitte×InvestHK 2026-02) [F]
Premium quick-win tier — shortest decision chain
In-house counsel
~2,600 HK-listed cos + MNC HQs [A]
Personal-leg extension + OCG dual-evidence buyer
The workbench + audit + BYOK compound positioning keeps Tacita out of the slow lane.
品類

品類終局 = 數據主權——比法律 AI 更廣闊的順風。

800 億 USD +35.6%
主權雲 IaaS 2026(Gartner)[F]
4,870 億 USD 2026
全球 AI 基礎設施支出(IDC)[F]
15 億 USD 級 CAGR ~16%
數據遮蔽(Data Masking)市場本身——純遮蔽工具屬增長緩慢賽道
會計師
HKICPA >47,000 [F]
首選:IESBA 一套論述通用各會計師公會
合規官
SFC ~3,300 持牌法團 · 美國 433,200 [F]
Enterprise 第二波——與律師事務所管道共享資源
保險核保
美國 125,600 · IA GL31 + PIC 批准制 [F]
第三:本地假名化降低批准摩擦
公司秘書
TCSP 6,899 家持牌 [F]
低價高頻入口:Team 2,999 以量驗證
家族辦公室
香港 3,384 家單一家辦(德勤×投資推廣署 2026-02)[F]
高端速勝客群——決策流程為各客群中最短
企業法務
香港上市公司約 2,600 家 + 跨國區域總部 [A]
個人客群的自然延伸 + OCG 雙重證據文件買家
「工作台 + 審計 + BYOK」複合定位,避開增長緩慢的賽道。
TACITA · PITCH DECK10 / 18
MODEL

PLG motion: individual adoption → institutional harvest, replicable in every jurisdiction.

PERSONAL
399 USD / yr
≈33 USD/mo · 1 seat · no free trial —
15-run full unconditional refund
TEAM · WHOLE-FIRM
2,999 / 5,999 / 9,999 USD
by monthly-active 1–5 / 6–15 / 16–40 ·
unlimited install · activity-tiered
ENTERPRISE
from 20,000 USD
private deployment · SSO · audit pack ·
SLA · insurer-underwriting report
Founding 100 — first 100 personal users lock at 299 USD/yr for two years
100% personal→Team credit — members' paid fees credit fully against Team's first year (capped at tier price)
15-run refund + demand gate — refund reasons feed product iteration and the WTP evidence base
Price coordinates: Harvey ≈1,200 USD/seat/mo (leaked, flagged) — Team entry 2,999 USD ≈ 2.5 months of one Harvey seat; Legora ≈3,000 USD/user/yr, min ACV ≈30,000 USD; Purview 12 USD/user/mo but needs an E3 base. The whole band sits "10–40× cheaper than cloud legal AI, cheaper than DLP, on par with general Copilot."
individual adoption institutional harvest every jurisdiction
模式 MODEL

PLG 策略:個人滲透 → 機構轉化,於各法域複製同一模式。

PERSONAL 個人版
399 USD / 年
≈33 USD/月 · 1 席位 · 不設免費試用——
首 15 次使用內可全額無條件退款
TEAM 團隊版 · 全所安裝
2,999 / 5,999 / 9,999 USD
按活躍席位 1–5 / 6–15 / 16–40 分級計費 ·
不限安裝數目 · 活躍梯度 + 年終調整
ENTERPRISE
20,000 USD 起
私有部署 · SSO · 審計證據套件 ·
SLA · 保險核保報告
Founding 100——首 100 名個人用戶以 299 USD/年鎖定兩年
個人轉機構全額抵扣——所內個人已付年費可全額抵扣 Team 首年(上限為 Team 級年費)
15 次退款保證 + 需求訊號閘——退款理由納入產品迭代及 WTP 證據庫
市場價格座標:Harvey 約 1,200 USD/席位/月(流傳口徑,存疑)——Team 入門級 2,999 USD 約為 Harvey 單席位 2.5 個月費用;Legora 約 3,000 USD/用戶/年、最低 ACV 約 30,000 USD;Purview 12 USD/用戶/月惟需 E3 基座。整體價格帶低於雲端法律 AI 達 10–40 倍、低於 DLP,與一般 Copilot 相若。
個人滲透 機構轉化 各法域
TACITA · PITCH DECK11 / 18
GTM

Individual adoption → institutional harvest.

01
Personal PLG adoption
Practitioners feel the gain first; content + alumni network + front-office channels cold-start
02
Multi-seat use inside firms
"N lawyers at your firm already use it" — payment records become evidence to management
03
Firm-wide deployment (Team)
Personal fees credit 100% against year one — conversion friction approaches zero
04
Replication across firms
Once density forms, a pincer movement on institutions from below and above
Split: personal growth led by the partner (HKU alumni network + law-firm front-office channel), founder supports with content & product; institutional negotiation levers the audit evidence chain + insurer report — compliance material is the sales material.
增長引擎 GTM

個人滲透 → 機構轉化。

01
個人用戶 PLG 滲透
前線從業員提效最為直接;以內容、校友網絡及律師事務所前台渠道冷啟動
02
所內多席位自用
「貴所已有 N 位律師在使用」——付款紀錄成為向管理層的佐證
03
全所部署(Team 級)
個人已付年費 100% 抵扣首年——轉化阻力趨近零
04
跨所模式複製
行業滲透密度形成後,自上而下對機構的鉗形攻勢
分工:個人增長由合夥人(港大校友網絡 + 律師事務所前台渠道)主導,創始人提供內容及產品支援;機構談判以「審計證據鏈 + 保險核保報告」為槓桿——合規材料即銷售材料。
TACITA · PITCH DECK12 / 18
COMPETITION

The supply side is vacating our quadrant.

ON-DEVICE ▲
PRICE TO CUSTOMER (LOW → HIGH)
CLOUD-ONLY ▼
★ TACITA
399–2,999 USD · on-device workbench
DIY / status quo
the real first competitor — ≈26–96 USD/doc hidden cost, no audit
Presidio & point redaction
offline-capable — redaction only, no workbench / audit / BYOK
ChatGPT / Copilot
shadow IT we replace
Microsoft Purview
"block-and-refuse"; E3 base excludes 88% of small firms
Harvey / Legora / Lexis+ / CoCounsel
cloud-only · min ACV ≈30,000 USD
Luminance
the only on-prem exception — enterprise doc review, not a workbench
Top ten legal-AI vendors are all cloud-only [F]; Harvey (15.5B USD) and Legora (5.5B USD) both opened Singapore in 2026 — capital consensus that "Asia is the next battlefield," yet nobody serves a US$399/yr solo lawyer: minimum ACVs start at ~US$30K.
Engine layer is a replaceable interface with quarterly benchmark tournaments — local small models (Ollama ~176K stars, 7B at ~100 tok/s [F]) already clear the NER bar: model progress is a supplier-competition dividend, not a threat.
Differentiation = Hong Kong legal semantics + workbench + audit + BYOK — with a committed public blind test vs Microsoft Presidio.
競爭格局

供給方正騰出我方獨佔的象限。

本機數據 ▲
客戶價格(低 → 高)
純雲端 ▼
★ TACITA
399–2,999 USD · 本機工作台
DIY / 現狀
真正的首個競爭對手——每份約 26–96 USD 隱含成本,且無審計紀錄
Presidio 等單點去識別化工具
可離線運作——僅涵蓋去識別化一環,無工作台 / 審計 / BYOK
ChatGPT / Copilot
被替代的影子 IT
微軟 Purview
「阻斷並拒絕」模式;E3 基座門檻排除 88% 小型律師事務所
Harvey / Legora / Lexis+ / CoCounsel
純雲端 · 最低 ACV 約 30,000 USD
Luminance
本地部署唯一例外——機構級文件審閲,非工作台
頭部十家法律 AI 供應商全數雲端化 [F];Harvey(15.5B USD)與 Legora(5.5B USD)於 2026 年相繼落戶新加坡——「亞洲 = 下一戰場」已成資本市場共識,惟無人服務年費 399 USD 的個人律師:同業最低 ACV 由約 30,000 USD 起。
引擎層抽象為可替換介面,按季評測競賽——本地小模型(Ollama 約 17.6 萬 stars、7B 達百級 tok/s [F])已跨越 NER 可用門檻:模型進步屬供應商競爭紅利,而非威脅。
差異化 = 香港法律語義 + 工作台 + 審計 + BYOK——並承諾與 Microsoft Presidio 進行公開盲測。
TACITA · PITCH DECK13 / 18
MOAT

Moats graded by evidence, not by story.

Verified · strongest
HK Chinese legal-semantics know-how
Entity taxonomy, document formats, mixed-script rules, decision rubrics — freeze-anchor 0.9316 vs general baseline 0.2778 (engineer self-assessed; 15-advisor blind review underway); hard for foundation models or open source to shortcut
Verified
Engineering delivery discipline
Frozen baselines, eight-gate CI, 139 merges zero reverts — git-auditable; proves delivery capability, not a structural barrier — marked as such
To verify
Workflow switching costs
Mapping tables, audit trails, firm templates — evidence chains appreciate as regulation tightens; IESBA / SRA codification trend reinforces this [F]
To verify
Regulatory & professional access
Bar association, alumni networks, advisory board — distribution and endorsement compounding inside the mindshare window
IP chain — all assets self-developed, full git history auditable; code-provenance scan (no contamination) filed for diligence.
護城河 MOAT

護城河按證據分級,而非按故事分級。

已驗證 · 最強
香港中文法律語義的領域 know-how
實體類型體系、文件格式、繁簡混排規則、判定準則——凍結基準 0.9316 對通用基座 0.2778(工程師自評,15 位顧問盲評進行中);大模型與開源方案均難以速成
已驗證
工程交付紀律
凍結基線、八重 CI、139 次合併零回退——git 可核證;所證明者為交付能力,而非結構壁壘——如實標註
待驗證
工作流切換成本
映射表、審計紀錄、所內模板——證據鏈隨監管收緊而升值;IESBA / SRA 規則成文化趨勢進一步強化此點 [F]
待驗證
監管與專業通道
律師會、高校校友網絡、顧問委員會——認知窗口期內的分發與背書複利
知識產權鏈:全部資產自主研發,git 完整歷史可供核證;源碼來源掃描無污染報告已列入盡職審查備查文件。
TACITA · PITCH DECK14 / 18
TRACTION · UNIT ECONOMICS

Engineering-led, advisor-backed.

NOW15 legal advisors in blind engine review · first-round firm field tests on record · 0 paying, 0 signed LOIs (honest baseline)
TARGETS · 6 MO POST-CLOSE
10paying pilots
≥50weekly-active lawyers
3–5paid LOIs
PERSONAL LEG · 399 USD
≈5.5×
LTV ÷ CAC = lifetime gross profit per acquisition dollar [A] · GM basis 62%
CAC · self-serve PLG≈64–192 USD
Annual churn · personal range30–40%
CAC payback≈6 months
Speed, density, institutional pipeline map
FIRM LEG · TEAM 5,999 USD
≈20–27×
LTV ÷ CAC = lifetime gross profit per acquisition dollar [A] · GM basis 70%
CAC · density-harvest talks≈1,025 USD
Annual churn · institutional range15–20%
CAC payback≈3 months
Revenue body, retention, audit assets
PQL: ≥3 personal users per firm triggers the institutional conversation ("N lawyers at your firm already use it — everything they paid is credited to you"); PQL conversion 25–30% vs MQL 5–10% [F/flagged] · year-end paying accounts 114 / 302 / 684 · pre-revenue unit economics are hypotheses, not results [A] — FY1 cohort's 12-month retention and NRR gate the next round · "we see density, not content"
牽引力 × 單位經濟

工程先行,顧問背書。

現況15 位法律顧問盲評進行中 · 首輪律師事務所實測紀錄在案 · 暫無付費客戶及已簽 LOI(誠實申報)
交割後 6 個月目標
10家付費試點
≥50名每週活躍律師
3–5份付費 LOI
個人業務線 · PERSONAL 399 USD
≈5.5×
LTV ÷ CAC = 生命周期毛利 ÷ 獲客成本 [A](毛利口徑 62%)
CAC · 自助 PLG約 64–192 USD
年度流失率 · 個人區間30–40%
CAC 回收期≈6 個月
速度、密度與機構管道分佈
機構業務線 · TEAM 5,999 USD 級
≈20–27×
LTV ÷ CAC = 生命周期毛利 ÷ 獲客成本 [A](毛利口徑 70%)
CAC · 密度轉化對話約 1,025 USD
年度流失率 · 機構區間15–20%
CAC 回收期≈3 個月
收入主體、客戶留存與審計資產
PQL 設計:所內個人用戶 ≥3 人即觸發機構對話(「貴所已有 N 位律師在使用,其已付款項將全額抵扣」);PQL 轉化率 25–30% 對 MQL 5–10% [F/存疑] · 期末付費客戶 114 / 302 / 684 · 零收入階段的單位經濟屬假設而非成績 [A]——FY1 客群的 12 個月留存率及 NRR 為下一輪融資前置指標 · 「我們只見密度,不見內容」
TACITA · PITCH DECK15 / 18
TEAM

Why this team — 15 legal advisors + chief hardware & software advisors.

Zhen Cao
FOUNDER / CEO
California College of the Arts, Industrial Design (2021); consumer-electronics design & strategy consulting — DJI, Giant Network, Baidu, Vanke (ESG), Deloitte, Fangda Partners, JunHe, SkyGuard. Leads product definition, technical architecture and the R&D system.
Edwin Yau
PARTNER · FUNDRAISING & EXTERNAL
University of Hong Kong, Environmental Science (Innovation & Technology minor); former business consultant at a Hong Kong startup incubator; former ESG audit consultant. Owns channels & customer success, fundraising and external affairs.
Yongzhong Peng
CHIEF HARDWARE ADVISOR
Cisco Principal Technical Marketing Engineer / Senior People Manager (San Jose); University of Wisconsin–Madison.
Zidong Zhang
CHIEF SOFTWARE ADVISOR
Software Development Engineer at Amazon (Seattle, full-time since Apr 2020); University of Wisconsin–Madison. Full-stack & large-scale distributed systems — Java / C# / TypeScript / React / Python / AWS.
Governance finalized: co-founder agreement, 4-year vesting + 1-year cliff, good/bad leaver, reserved matters, deadlock mechanics, key-person insurance, dual repo admins with key escrow, monthly 13-week rolling cash reporting — cap table and full terms in the data room. Advisor agreements (15 legal advisors; council of 2–3) countersigned before closing.
團隊

為什麼是這個團隊——15 位法律顧問 + 硬件 / 軟件雙首席。

Zhen Cao
創始人 / CEO
California College of the Arts 工業設計(2021 屆);消費電子設計與戰略諮詢——DJI、巨人網絡、百度、萬科(ESG)、Deloitte、方達、君合、天空衞士。主導產品定義、技術架構與研發體系。
Edwin Yau
合夥人 · 融資與對外
香港大學環境科學(副修科創);曾任香港創業孵化器商業諮詢顧問、ESG 審計顧問。主責渠道及客戶成功、融資與對外事務。
Yongzhong Peng
首席硬件顧問
Cisco Principal Technical Marketing Engineer / Senior People Manager(聖何塞);University of Wisconsin–Madison。
Zidong Zhang
首席軟件顧問
Amazon Software Development Engineer(西雅圖,2020 年 4 月至今全職);University of Wisconsin–Madison。全棧與大規模分佈式系統——Java / C# / TypeScript / React / Python / AWS。
治理文件已定稿:聯合創始人協議、4 年 vesting 附 1 年 cliff、good/bad leaver、保留事項、僵局機制、關鍵人物保險、程式碼庫雙管理員及密鑰託管(escrow)、每月 13 星期滾動現金流報告——股權表及完整條款於資料室可供查閱。15 位法律顧問協議(遴選 2–3 人組成顧問委員會)將於交割前全數簽署。
TACITA · PITCH DECK16 / 18
FINANCIALS

≈385,000 USD carries us to FY3 ≈ breakeven — survival depends on no grants and no later rounds.

EXIT ARR · USD 10K · OPERATING CF · USD 10K
ARR (bars)Operating CF (line)
EXIT ARR · USD 10K 10.3 26.4 75.1 FY1 FY2 FY3 OPERATING CF · USD 10K 0 · breakeven -19.2 -15.3 -0.3
FY1 96 seats + 18 firmsFY2 260 seats + 42 firmsFY3 560 + 121 + 3 Enterprise
AI-NATIVE COST STRUCTURE
Cumulative 3-year operating outflow ≈-346K vs -1.24M USD under a traditional headcount model; founding team contributes zero cash (cash spent to date ≈770 USD); BYOK shifts inference-cost inflation to the customer. Gross margin 62% → 70% → 75%.
RUNWAY DISCIPLINE
The pure-angel ≈385,000 USD stress path survives throughout (no grants, no later rounds); pre-close gap narrowed to ≈-24K USD, covered by presales; later rounds are pure expansion fuel.
SCENARIOS
Revenue ×0.7 → FY3 ARR ≈526K USD (downgraded expansion plan [A]); ×1.3 → ≈977K USD — channel scaling pulled forward one quarter.
FY1 = the 12 months from first closing · full cost-to-cash reconciliation is re-computable year by year · scenario: revenue ×0.7 → FY3 ARR ≈526K USD (downgraded expansion plan)
財務

約 385,000 USD 天使資金足以支撐至 FY3 基本打平——生存線不依賴政府資助或後續輪次。

期末 ARR · 萬 USD · 經營現金流 · 萬 USD
ARR(柱)經營現金流(線)
期末 ARR · 萬 USD 10.3 26.4 75.1 FY1 FY2 FY3 經營現金流 · 萬 USD 0 · 基本打平 -19.2 -15.3 -0.3
FY1 96 席 + 18 所FY2 260 席 + 42 所FY3 560 席 + 121 所 + 3 Enterprise
AI-NATIVE 成本結構
三年累計經營流出 約 -34.6 萬 USD,對傳統全職編制口徑約 -124 萬 USD;創始團隊零現金出資(至今累計現金支出僅約 770 USD);BYOK 使推理成本通脹由客戶承擔。毛利率 62% → 70% → 75%。
跑道紀律
純天使約 385,000 USD 壓力情境(不依賴資助及後續輪次)可全程存續;交割前資金缺口收窄至約 -24,000 USD,由預售收入覆蓋;後續輪次純屬擴張燃料。
情境與敏感性
收入 ×0.7 → FY3 ARR 約 52.6 萬 USD(降級擴張方案 [A]);×1.3 → 約 97.7 萬 USD——渠道放量提前一季。
FY1 = 自首筆交割月起計的連續 12 個月 · 成本與現金流全鏈勾稽可逐年覆核 · 情境:收入 ×0.7 → FY3 ARR 約 52.6 萬 USD(降級擴張方案)
TACITA · PITCH DECK17 / 18
TACITA