Manny Medina, founder and former CEO of Outreach, has started a new startup called Paid. Based in London, Paid provides a groundbreaking technology platform intended to construct an army of bots. So far, the three of them have helped the startup raise an astounding €10 million, or nearly $11 million, in pre-seed funding. EQT Ventures, Sequoia and GTM Fund joined in this winning investment, which was announced on Monday. Focusing on startups in lieu of big enterprise behemoths, Paid is poised to change the way AI agents are used and paid.
Medina came up with the idea for Paid after long conversations with dozens of agentic platform startups. Medina is aware that traditional software billing models won’t cut it for interacting with AI agents. His vision for Paid is to provide a solution that allows organizations to create an effective bot workforce. As the AI agent era unfolds, Paid positions itself as the intersection between Zuora's SaaS renewal billing software and SuccessFactors' SaaS HR management software.
The platform has further secured three beta customers — including Logic.app, 11x, Vidlab7, Artisan, and HappyRobot. These startups are realizing how Paid’s distinct approach is helping them simplify their model. As a result, they give each employee the ability to handle the work of several agents. The platform’s flexibility is further demonstrated by its variable cost structure that can align with users’ contingency needs. This architecture scales with the token count of LLMs required for training and execution tasks.
“They needed the ability to try new things with different customers. They needed the ability to measure their margins.” – Medina
It’s why startups need to constantly test new strategies and measure their cost-effectiveness. Paid is built to bring you this critical, timely new capability. The platform's development involved utilizing tools like V0, Replit, and Lovable to create initial product demos, showcasing its commitment to cutting-edge technology.
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