Manny Medina, co-founder and former CEO of Seattle gross sales firm Outreach, is off and operating on his new startup journey with a recent $21 million seed spherical for Paid.
Based earlier this 12 months, the London-based firm helps firms get a deal with monetization and billing for his or her AI brokers.
Medina beforehand about this matter in a enterprise recommendation column for GeekWire, noting the challenges round AI agent monetization given the basic variations between brokers and conventional software-as-a-service.
Paid helps firms create pricing fashions that align with how clients get worth and lets them tweak their AI agent code to permit for various pricing mechanisms.
“We’re constructing the infrastructure that lets SaaS firms break away from the seat-based lure and return to progress,” Medina wrote on LinkedIn.
TechCrunch reported that Paid is already valued north of $100 million.
Lightspeed led the large seed spherical.
“This funding additionally displays our broader conviction about the place AI worth creation is heading: the following wave of AI worth will come from infrastructure that operationalizes AI deployment at scale and utility firms that harness the worth created,” Lightspeed accomplice Alexander Schmitt wrote in a weblog publish.
Bellevue, Wash.-based FUSE additionally participated within the spherical.
“Paid is important for AI native firms and SaaS firms to monetize and win in 2025,” FUSE founding accomplice Kellan Carter wrote on LinkedIn.
Seattle-based Founders’ Co-op beforehand invested in Paid.
Medina, who’s now primarily based in London, stepped down as CEO at Outreach in September 2024. He turned government chairman of the corporate’s board on the time and is now a board member.
Outreach, launched in 2014, helps firms enhance their vendor workflows and win extra offers. The corporate has raised practically $500 million and reached a $4.4 billion valuation after elevating $200 million in 2021.
Outreach grew quickly throughout the pandemic, however went by way of a number of rounds of layoffs over the previous few years. The corporate is now led by CEO Abhijit Mitra, who joined the corporate in 2023 as its president of product and expertise.
Medina co-founded Outreach in 2014 with Wes Hather, Gordon Hempton, and Andrew Kinzer. Hather and Hempton labored on a pair startups lately and at the moment are targeted on building software program startup Specbook. Kinzer just lately shut down a wise fridge firm and just lately based a stealth startup, in accordance with LinkedIn.
