Manny Medina, founder and former CEO of Outreach, has launched a new startup called Paid, according to TechCrunch. Based in London, Paid helps companies manage monetization and billing for their AI agents.
“AI agents are growing fast, but all face a critical challenge: how to monetize and capture the value they create?” Medina wrote on LinkedIn. He added, “With just a few lines of code, AI builders can focus on creating amazing agents while we handle the business engine behind them.”
So far, Paid has raised $11 million in a pre-seed investment from EQT Ventures, Sequoia Capital, GTMfund, Exceptional Capital, Alt Capital, SV Angel, and previous Outreach investor Seattle-based Founders’ Co-op.
Working with AI agents
Medina wants to change how companies charge software when working with AI agents. Agents are new to startups, so they haven’t dealt with processes that give profitable billing. Paid will allow agentic startups to create fixed or variable pricing whilst focusing on profitable margins.
By doing this, it tracks agents’ output, allowing startups to prove the return on investment. “Agents are replacing roles, human roles, not the entire job, but entire roles,” Medina said to TechCrunch.
The platform is being advertised to startups instead of enterprises. So far, Paid has three companies as beta customers: Logic.app, 11x, VidLab7, Artisan, and HappyRobot.
What is Outreach?
Outreach, a Seattle-based sales automation software company, was founded in 2014 to help companies upgrade their seller workflows and win more deals. It has raised almost $500 million and reached a $4.4 billion valuation after raising $200 million in 2021. Medina stepped down in his role as CEO in 2024 and was replaced by Abhijit Mitra, who joined the company as its president of product and technology, according to Geekwire.
It’s backed by Sands Capital, Salesforce Ventures, Operator Collective, Lone Pine Capital, Spark Capital, Meritech Capital Partners, Trinity Ventures, Mayfield, and Sapphire Ventures.
Image: GeekWire
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