Paid has raised a $21M Seed round, led by Lightspeed Venture Partners, with EQT Ventures participating again after leading the pre-seed round.

When we backed Paid at Pre-Seed, we saw that SaaS monetization models were no longer fit for the future. Seat-based pricing becomes a mismatch when AI agents replace entire teams. In February, we shared our perspective on outcome-based pricing, and Paid’s strong trajectory over the past months has confirmed this thesis in practice.

From software seats to agentic workflows 

SaaS companies will experience a growth slowdown as seat counts decline. When AI agents replace entire teams, the old monetization models will have to be completely rearchitected to fit the AI age. To understand this need, it helps to revisit the three waves of software monetization:

> Wave 1 - Seat-based SaaS: Predictable growth built on licenses per user; collapses when agents replace human users.
> Wave 2 - Usage-based metering: Charging per API call, transaction, or unit consumed. Easy to implement but does not capture the full value created; also fails to account for cost to serve for complex agentic workflows.
> Wave 3 - Result-based pricing: Monetize agentic services based on direct costs incurred per user & workflow, charge based on proof of value, and ensure margins in real time.

Most AI frontrunners have turned to usage-based metering as a short-term patch. But as software shifts decisively toward agents, billing infrastructure must be rebuilt for this new reality. Just as HRMS systems became essential infrastructure for managing people, a new business engine is now required to manage agents & capture the value they create.

Paid’s approach & early results

When we came across Paid, they echoed our thesis for outcome-based pricing. On top, we had high conviction that Paid’s highly experienced team was the perfect match to execute this vision:

Paid is led by Manny Medina (co-founder and former CEO of Outreach, which he grew to a $4.4B valuation), together with serial founders and early leaders from Salesforce Billing, Palantir, and Pleo. The Paid team combines deep experience with fast execution and relentless customer focus.

By now, Paid is already a frontrunner in this transition, enabling AI-native players & established SaaS companies companies to:

• Track costs and margins in real time

• Adopt results- and value-based pricing

• Automate billing and ROI reporting

Paid’s early traction speaks for itself. Customers such as Artisan, Boon, and IFS report 20–40% revenue growth within months of adopting Paid, alongside faster sales cycles and stronger retention.

Why we invested again

The agent economy is projected to reach $19T by 2030, transforming how software is built, delivered and monetized. Paid is creating the economic infrastructure to support this shift. 

This is why we are excited to continue backing Manny and the team as they scale Paid into the defining platform for agent monetization.

If you’re building AI agents or rethinking SaaS monetization, Paid can help. Llearn more at paid.ai