Manny Medina, Founder of the $4.4 billion sales automation firm Outreach, is aiming to reshape how software generates and captures value, this time with his new venture, Paid. As Co-Founder and Chief Executive Officer of the London-based startup, Medina is leading efforts to redefine how AI agents are compensated for the work they perform.
Paid has raised $32.6 million, including a $21.6 million seed round led by Lightspeed, with participation from FUSE, EQT Ventures, Sequoia, and GTMFund. Rather than selling software through per-user or usage-based models, Paid enables AI agent developers to charge based on the measurable outcomes their agents deliver. “You need an infrastructure that allows the agent to charge for the additional work that the agent is doing,” said Medina, explaining how Paid brings transparency to the economics of autonomous work.
Before founding Paid, he built Outreach from the ground up in 2011, growing it to $250 million in annual recurring revenue and 800 employees. Earlier, as a Microsoft executive, he gained deep experience in technology and sales, insights that now guide his mission to make AI systems more accountable and performance-driven. The idea for Paid came after months of conversations with AI startups. “They didn’t really know what to charge,” he recalled, identifying a market-wide struggle to price agentic work. Traditional SaaS billing models, built for human users, fail in the world of autonomous agents that operate continuously and dynamically.
For Medina, Paid represents more than a company; it’s a new economic model for digital labor. “Our mission is to grow the AI agent economy by solving these fundamental infrastructure gaps,” he said.
