The InfiniteWatch Dispatch
Confidential
Vol. IThe annual report, told monthly

September 2025 → August 2026

Year One

Twelve months, month by month — the deals, the hires, the releases and the quiet stretches, written down as they happened.

$66,264
signed
17
people joined
24
releases shipped

From a Madrid office that opened a day before the bank account, to the first carrier logo and a product month at 94.1% quality. Scroll to follow the year as it unfolded.

Ledger$5,000signed1joinedlatest: The Guarantors
The timeline11 dispatches
01 / 11September & October 2025

The opening

We started, and made our first sale.

A Madrid office at Loom Campo de las Naciones, a SAFE that becomes the pre-seed, and a first closed-won record on the board.

Empty modern startup office in Madrid at dawn
The Loom Campo de las Naciones office — opened one day before the bank account.
$5,00011design partners in the programme113conversations analysed

Deals & revenue

  • The Guarantors closes on 6 October — our first closed-won record.
  • Design partner programme formalised: a Slack Connect channel per partner.

Product releases

  • PRDs written for session replay and AI Voice.
  • RAG for sessions ships, 28 October.
  • Job&Talent audio pilot: 100 transcriptions on Deepgram Nova 3.

Achievements

Madrid office at Loom Campo de las Naciones. The SAFE that becomes the pre-seed is signed in September.

Fun fact

The office opened one day before the bank account did.

02 / 11November 2025

Focus

Focus, argued about honestly.

Nothing closed, but the room got bigger — Kibo Ventures and a Goldman Sachs dinner put the company on the Madrid map.

Nothing closed14design partners qualified by stage and fit1sprint item slipped: the billing dashboard

Deals & revenue

  • Nothing closed.
  • The Guarantors recorded as converting to a paid customer.
  • First Línea Directa demo.

Product releases

  • Golden datasets defined.
  • Rate limiting middleware ships.
  • Demo Session Replays.

Achievements

Kibo Ventures AI Community launch and the Goldman Sachs Iberia technology dinner put us in the room in Madrid.

Fun fact

The deal we demoed this month took nine more months to sign.

03 / 11December 2025

Out of stealth

Out of stealth.

A $4M pre-seed led by Base10 Partners, two products public on the same day, and unicorn founders on the cap table.

Small tech team working late in a dim office
Out of stealth — two products public on the same December day.
$5,900$4Mpre-seed raised2products public on launch day

Deals & revenue

  • Northius signs on 2 December — web and voice together.
  • $4M pre-seed announced on 18 December, led by Base10 Partners.

Product releases

  • Session Replay Agent goes public.
  • Voice Agent goes public.
  • Both framed on 2M+ interactions a month.

Achievements

Kibo, Kfund, LifeX, Sequoia and a16z scouts, plus four unicorn founders. First full board cycle closes the year.

Fun fact

Four unicorn founders on the cap table before the first invoice was paid.

04 / 11January 2026

First money in

First money in.

The Guarantors pays on 13 January — the weekly simply calls it our first revenue — as five people join in a single month.

First revenue60% / 80%precision and recall, first golden run7–9Ksessions a day

Deals & revenue

  • The Guarantors pays on 13 January. The weekly calls it, simply, our first revenue.
  • Northius about to sign at $7.2K a year.

Product releases

  • AI Voice Simulator with persona generation.
  • Recurring billing live on Metronome and Stripe.
  • Evals v0.1 and the first golden dataset run.

Achievements

A performance sprint: session collection 40% faster, session pages 60%, the billing page 400%.

Fun fact

Five people joined in one month, more than the entire first quarter.

05 / 11February 2026

Volume doubles

Volume doubles.

Clip agrees verbally to $24K a year, volume climbs 55% week over week, and Semana del Seguro fills the insurance pipeline.

43 leads · ~$780K pipeline71Ksessions in week 5, up 55% week over week1.6Mminutes analysed, up 151%

Deals & revenue

  • Clip agrees verbally to $24K a year for Voice and Message Insights.
  • The Guarantors and Northius both logged closed won.

Product releases

  • Evals v8 with LangChain: precision 45.4, recall 75.3.
  • Bias testing shipped on the back of the Job&Talent pilot.

Achievements

Semana del Seguro in Madrid produces the first real batch of insurance prospects.

Fun fact

Our most expensive month per session was also our fastest growing.

06 / 11March 2026

Three deals

Three deals and a price reset.

Clip signs the largest deal of the year, two more close alongside it, and insight precision jumps from 42% to 90%.

Busy insurance technology conference floor
Insurtech Insights London and MWC Barcelona — one conference produced 65 leads.
$30,56482leads against a target of 16022demos against a target of 40

Deals & revenue

  • Clip signs at $23,964 — the largest deal of the year.
  • tumomento at $6,000 and Eventual at $600 close the same month.
  • Five paying customers, ARR at $17,500.

Product releases

  • Insight precision moves from 42% to 90% in six weeks.
  • Cost per web session down to $0.033 on LLM costs alone.

Achievements

Insurtech Insights London and MWC Barcelona. Trimstone opens the UK channel motion.

Fun fact

One conference produced 65 of the month’s 82 leads.

07 / 11April 2026

Clip goes live

Clip goes live.

The month the sales team was built was the month nothing signed — but Clip went to production and the infrastructure moved to the EU.

$02–3KClip conversations a day in production633leads against a target of 852

Deals & revenue

  • Nothing signed all month.
  • DriveRevel closed lost on budget. Ukio, Audicus and Agua Miia all stalled.

Product releases

  • Clip live in production from 27 April, starting with Customer Happiness.
  • Telnyx fully in production.
  • PostHog and Fly.io moved to the EU for GDPR.

Achievements

Keynote at Insurance World Challenges in Madrid: 34 connected contacts from 87.

Fun fact

The month we built a sales team was the month we signed nothing.

08 / 11May 2026

Carriers say yes

Three carriers say yes.

HNA signs a Commitment of Intent while Aegon and Línea Directa reach verbal agreement — and the largest infra bill drops tenfold.

3 verbals$700 → $70Vertex daily cost, roughly 10x down2.7%attempting-to-connected outside events

Deals & revenue

  • HNA signs a Commitment of Intent, procurement kicks off.
  • Aegon and Línea Directa both reach verbal agreement.

Product releases

  • Collections and Renewals running end to end.
  • Policy Check prototype.
  • Agentic e-commerce demo v1 as an MCP app.

Achievements

ITC Europe in Barcelona: a booth, an eight-minute pitch and a private dinner.

Fun fact

We cut our largest infrastructure bill roughly tenfold in a single month.

09 / 11June 2026

First carrier logo

The first carrier logo.

Aegon signs at $11,000 — the first major carrier logo — in the first green month of the whole year.

$11,0002,198attempting leads, 112% of target−85%Vertex cost versus April

Deals & revenue

  • Aegon signs at $11,000, the first major carrier logo.
  • Europea Seguros converts, signing the following month.

Product releases

  • Conversation-to-CRM Intelligence API.
  • Churn-signal dashboard and NPS instrumentation.
  • MCP app implemented. LiteLLM proxy for per-org cost.

Achievements

Four events in four weeks, including our first telecom test in Copenhagen. $250K of Azure credits secured.

Fun fact

The first green month of the whole year, and it took nine months to arrive.

10 / 11July 2026

Europea signs

Europea signs, and no events.

The month with no conferences is what proved conferences were the funnel — and Europea Seguros signs on the 23rd.

$13,8000.5%attempting-to-connected, down from 5.9%7paying customers at the H1 board

Deals & revenue

  • Europea Seguros signs on 23 July.
  • The Aegon pilot passes its second iteration and moves into procurement.

Product releases

  • Agent Assist live on Teams and Google Meet.
  • ChatGPT MCP app in production.
  • Nine of ten eval datasets complete.

Achievements

Northius case study published. Aegon branded content runs in INESE, the main Spanish insurance publication.

Fun fact

The month we did nothing at conferences is what proved conferences were the funnel.

11 / 11August 2026

Product shipped

Product shipped. Nothing signed.

The biggest product month was the quietest sales month — SuperIntelligence, the MCP Gateway, and AI Chat evals at 94.1%.

Audio waveform visualization glowing on a dark screen
AI Chat evals reach 94.1% good or acceptable across the SuperIntelligence build.
$094.1%AI Chat good or acceptable3late-stage deals still open

Deals & revenue

  • Nothing closed.
  • Línea Directa still in tender, with DORA documentation and a SOC 2 Type 2 report submitted.
  • The Clip expansion and DEKRA both still open.

Product releases

  • SuperIntelligence built across three sprints.
  • InfiniteWatch MCP Gateway.
  • AI Chat evals reach 94.1% good or acceptable.

Achievements

Europea live with Voice Insights on the 18th. Markel pilot pricing agreed on the 19th, and the ARAG project kick-off convened.

Fun fact

Our biggest product month was also our quietest sales month.

In summaryThe year in one slide

The year in one slide.

Twelve months, added up.

$66,264
signed

across 7 contracts. Línea Directa, the Clip expansion and DEKRA are still open

17
people joined

from one operating hire to a full sales team

24
releases shipped

three agent families and one commerce bet

Contract value signed, month by month

$5k
0
0
$6k
0
0
$31k
0
0
$11k
$14k
0
SepOctNovDecJanFebMarAprMayJunJulAug
414,438
conversations analysed
1.15M
voice minutes processed
$845K
open pipeline
7
months that signed nothing
Year twoWhat comes next

The second one of everything.

A second Clip

One customer is 83% of our volume

A CRO in the seat

October start, US pipeline rebuilt

$1M ARR

Opens a $3M to $5M seed extension

The InfiniteWatch Dispatch — Year One, September 2025 through August 2026. Confidential. Prepared for internal and board circulation.