Outreach Founder Manny Medina Launches Paid to Monetize AI Agents, Raises $11M Pre-Seed
Manny Medina, founder and former CEO of Outreach, has launched Paid, a London-based startup that helps companies manage monetization and billing for AI agents. Paid raised $11 million in pre-seed funding from investors including EQT Ventures, Sequoia Capital, GTMfund, Exceptional Capital, Alt Capital, SV Angel, and Founders’ Co-op.
Former Outreach CEO Manny Medina Launches London-Based Startup Paid with $10M to Monetize AI Agents
Manny Medina, co-founder and former CEO of Outreach, has launched Paid, a London-based startup focused on monetizing AI agents, backed by over $10 million in funding. Medina stepped down as Outreach CEO in September and now serves as executive chairman while Paid aims to simplify billing and monetization for AI builders.
Outreach Cuts 12% of Staff Amid Economic Pressures, Aiming for 2024 Profitability
Seattle-based sales software startup Outreach laid off 12% of its staff amid shifting economic conditions and ongoing cost-cutting efforts, aiming for profitability next year. This follows previous layoffs of 5% in August 2022, 7% in February 2023, and another 5% last month, with some business functions being offshored to Mexico City and India.
Outreach Lays Off 70 Employees, 7% of Workforce, and Pauses Office Expansion Amid Missed Revenue Targets
Seattle-based sales software startup Outreach is laying off 70 employees, about 7% of its workforce, following a failure to meet revenue targets and amid a broader tech industry slowdown. The company will also suspend merit increases and delay office expansion as it aims for operational efficiency and profitability.
ExtraHop Hires Four New Executives After $900M Bain Capital Acquisition; Madrona and USAFacts Also Name Key Leaders
Seattle-based cybersecurity company ExtraHop, recently acquired for $900 million by Bain Capital and Crosspoint Capital, appointed four new executives including CFO Matt Parson and CMO Christine Nurnberger. Other regional tech moves include Madrona Venture Group hiring a new managing director and USAFacts appointing Michelle Broderick as CMO.
Madrona Venture Group Opens Silicon Valley Office to Expand Investments Beyond Pacific Northwest
Seattle-based Madrona Venture Group is expanding beyond the Pacific Northwest by opening its first Silicon Valley office to increase investments outside its home region. Since 2019, the firm has raised over $261 million for an acceleration fund targeting more mature companies across North America, with about 15% of its portfolio now outside the Pacific Northwest.
Cyrus Biotechnology raises $18M and acquires Orthogonal Biologics, adding COVID-19 decoy therapeutic and deep mutational scanning platform
Seattle protein engineering company Cyrus Biotechnology raised $18 million and acquired Orthogonal Biologics, adding a deep mutational scanning platform and two protein therapeutics including a potential COVID-19 decoy. Cyrus leverages University of Washington IPD tools (Rosetta, RoseTTAfold) and has partnerships including a deal with Selecta Biosciences worth up to $1.5 billion.
Outreach raises $200M, valuation climbs to $4.4B as Seattle sales-software firm expands AI products
Sales software startup Outreach raised $200 million in venture capital, pushing its valuation to $4.4 billion as the 10-year-old Seattle company expands AI-driven sales products and serves over 4,600 customers. The company reported $100 million in annual recurring revenue in fall 2020 and has now raised a total of $489 million.
Foursquare CEO David Shim to Resign; Gary Little Named CEO in 2021; Other Tech Leadership Moves Reported
Foursquare CEO David Shim, founder of Placed, is resigning and will be succeeded by board member Gary Little in 2021 after a transition; Shim plans to return to entrepreneurship. Other moves: investor Karan Mehandru left Trinity Ventures to join Steadfast Financial while remaining on several boards, 343 Industries’ Chris Lee stepped down from Halo Infinite project direction, and WTIA hired Molly Jones as VP of government affairs.
Outreach raises $50M Series F led by Sands Capital, valuing Seattle startup at $1.33B
Seattle sales-engagement startup Outreach raised a $50 million Series F led by Sands Capital, bringing its valuation to $1.33 billion and total funding to $289 million while holding more than $100 million in cash. The company says the funding bolsters its position amid COVID-19 as remote selling increases and over 4,000 customers use its platform.
Founders’ Co-op publishes customer experience promise to founders outlining five commitments after 200+ early-stage investments
Founders’ Co-op outlines a written customer experience promise to founders, committing to five principles—Tell the Truth, Be Fast, Give First, It’s Your Company, Be Human—based on the partners’ founder-to-VC experience and more than 200 early-stage investments.
Cyrus Biotechnology Raises $8M Series A Led by Trinity Ventures to Expand Cloud-Based Protein Modeling for Drug Discovery
Cyrus Biotechnology secured $8 million in Series A funding led by Trinity Ventures to advance its cloud-based protein modeling platform, Cyrus Bench, which aids drug discovery. The software builds on the University of Washington's Rosetta platform, enabling researchers to design novel protein configurations for therapeutic applications.
Seattle 10 Names Top Startups to Showcase at GeekWire Gala Dec. 7 at MOHAI
The Seattle 10 highlights the region’s most promising startups across diverse industries such as education, enterprise software, virtual reality, and robotics. These selected startups will creatively showcase their business ideas on large cocktail napkins at the GeekWire Gala on December 7th at MOHAI.
