Paid, the AI agent ‘results-based billing’ startup from Manny Medina, raises huge $21M seed

Manny Medina, previously best-known as the founder of sales automation startup Outreach ($4.4 billion valuation), has wowed investors with his young startup, Paid. Paid just closed an oversubscribed $21.6 million seed round led by Lightspeed. With the €10 million pre-seed round it raised in March, London-based Paid has already raised $33.3 million and hasn’t even…

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The AI services transformation may be harder than VCs think

Venture capitalists have convinced themselves they’ve found the next big investing edge: using AI to wring software-like margins out of traditionally labor-intensive services businesses. The strategy involves acquiring mature professional services firms, implementing AI to automate tasks, then using the improved cash flow to roll up more companies. Leading the charge is General Catalyst (GC),…

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