In the crowded legaltech landscape, Cicayda stands out for what it doesn't have: a visible product, web presence, or customer traffic. Yet, it has raised $12.2M. This isn't a growth story—it's a masterclass in capital efficiency or a cautionary tale of stealth mode gone too far.

"With $12.2M in funding and zero web traffic, Cicayda is either building in complete stealth or has built a product no one wants."

The numbers tell a story of extreme capital efficiency. $12.2M raised with only $0.1M in revenue means they're spending less than 1% of their funding annually. At 5 employees, their burn rate is likely under $500K per year—giving them a 24-year runway. This is either brilliant financial discipline or a sign of stalled development. Most startups would be scaling with this much funding, but Cicayda is invisible.

• Zero web traffic suggests no inbound marketing or SEO strategy
• PHP tech stack may indicate legacy systems or rapid prototyping
• Extremely lean team (5 people) with $12.2M in funding
• Revenue ($0.1M) is negligible compared to funding raised
• Single named executive (Clark Rickman) suggests minimal leadership team