OverviewSuggest Edit

AvidXchange is a business payment processing company. Its solutions include purchase order, automated invoice management, bill payment, check printing, and utility bill management software.
TypePrivate
Founded2000
HQCharlotte, NC, US
Websiteavidxchange.com
Employee Ratings3.5
Overall CultureB

Latest Updates

Employees (est.) (Apr 2020)1,500(+39%)
Job Openings59
Revenue (Y, 2019)$149.6 M(+20%)
Cybersecurity ratingCMore

Key People/Management at AvidXchange

Michael Praeger

Michael Praeger

Chief Executive Officer, Co-Founder, & Board Member
Dan Drees

Dan Drees

Chief Growth Officer
Joel Wilhite

Joel Wilhite

CFO
Todd Cunningham

Todd Cunningham

Chief People Officer
Chris Tinsley

Chris Tinsley

Chief Technology Officer
Christina Quaine

Christina Quaine

Chief Information Security Officer
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AvidXchange Office Locations

AvidXchange has offices in Charlotte, Birmingham, Columbus, Houston and in 1 other location
Charlotte, NC, US (HQ)
AvidXChange Ln
Birmingham, AL, US
Two Perimeter Park South, Suite 500 East, Perimeter Park S
Columbus, MS, US
319 Park Creek Dr
Houston, TX, US
2100 Travis St # 300
Sandy, UT, US
111 E Sego Lily Dr #300Sandy
Show all (5)

AvidXchange Financials and Metrics

Summary Metrics

Founding Date

2000

AvidXchange total Funding

$933.3 m

AvidXchange latest funding size

$128 m

Time since last funding

a year ago

AvidXchange investors

AvidXchange's latest funding round in April 2020 was reported to be $128 m. In total, AvidXchange has raised $933.3 m. AvidXchange's latest valuation is reported to be $1 b.
View all funding rounds

AvidXchange Revenue

AvidXchange's revenue was reported to be $149.58 m in Y, 2019 which is a 19.8% increase from the previous period.
USD

Revenue (Y, 2019)

149.6m

Revenue growth (Y, 2018 - Y, 2019), %

19.8%

Market valuation

1.0b
USDY, 2018Y, 2019

Revenue

124.9m149.6m

Revenue growth, %

20%
USDY, 2018

Revenue/Employee

144.1k
Show all financial metrics

AvidXchange Operating Metrics

FY, 2018Nov, 2019Apr, 2020

Customers (North America)

5.5 k6 k

Partners

33

Software Products

5

Suppliers

500 k600 k
Show all operating metrics

AvidXchange Acquisitions / Subsidiaries

Company NameDateDeal Size
BankTEL SystemsAugust 27, 2019

AvidXchange Cybersecurity Score

Cybersecurity ratingPremium dataset

C

78/100

SecurityScorecard logo

AvidXchange Online and Social Media Presence

Embed Graph

AvidXchange Company Culture

  • Overall Culture

    B

    71/100

  • CEO Rating

    B

    70/100

  • Compensation

    A-

    81/100

  • Diversity

    C-

    64/100

Learn more on Comparably

AvidXchange News and Updates

AvidXchange preps for Q2 IPO

Small business payments automation firm AvidXchange has hired investment banks to prep for an initial public offering that could value the business at more than $7 billion, according to Reuters.

AvidXchange acquires Core Associates

AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the middle market, has acquired Core Associates, the makers of TimberScan and complementary AP solutions trusted by more than 30,000 users nationwide.

Fintech Unicorns Flywire And AvidXchange Are Planning To Go Public In 2021

On top of other expected IPOs in 2021 like Robinhood, Affirm and Marqeta, two more fintechs are planning to go public.

AvidXchange announces integration with Concur Invoice

Concur ® Invoice customers can now access the AvidPay Network to facilitate electronic payments with more than 680,000 suppliers.read more

AvidXchange bridges digital divide through Tech Rising initiative

CHARLOTTE, N.C., Aug. 14, 2020 /PRNewswire/ -- AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the middle market, today launched Tech Rising, an initiative spearheaded by the AvidXchange Foundation that aims to remove barriers to technology...

AvidXchange raises $260 million in equity capital

AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the...
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AvidXchange Blogs

Accounts Payable Olympics: Can Your AP Team Take Gold in These 8 Events?

In corporate financial departments, and throughout accounts payable (AP) managers’ homes, and just about everywhere, people are enjoying the Summer Olympics in Tokyo. Not coincidentally, a similar and concurrent rise in Olympics enthusiasm is buzzing in business and technological innovation hubs all…

Accounts Payable KPIs: 3 Most Valuable Metrics for Tracking AP Efficiency

As a controller or accounts payable (AP) manager, you can use more than a dozen key performance indicators (KPIs) to track the performance of your AP systems.  But three stand out:  average cost to process invoices average time to process invoices and average number of people needed to process invoi…

Real Estate Experts Offer Insight to Help Navigate ‘New Normal’

As a real estate finance pro, it’s easy to feel overwhelmed given how your world has changed in the last year. Chances are your business operates differently now. Employees are ... The post Real Estate Experts Offer Insight to Help Navigate ‘New Normal’ appeared first on AvidXchange.

CFO Survey Reveals Widespread Support for AP Digitization

A staggering 96 percent of CFOs can’t be wrong, right? Let us explain. A recent survey conducted by PYMNTS.com and VersaPay polled 400 chief financial officers (CFOs) to find out ... The post CFO Survey Reveals Widespread Support for AP Digitization appeared first on AvidXchange.

How Controllers Become Great CFOs

You’re a successful financial controller. And now you’re ready to take your career to the next level. You want a seat at the main table in the C-suite as a ... The post How Controllers Become Great CFOs appeared first on AvidXchange.

How to Untangle the Construction Industry’s Payment Problems

Finance departments for construction companies often run into maddening obstacles when processing invoices and payments. Synchronizing mounds information and documents into their accounting systems is no easy feat. The accounts ... The post How to Untangle the Construction Industry’s Payment Problem…
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AvidXchange Frequently Asked Questions

  • When was AvidXchange founded?

    AvidXchange was founded in 2000.

  • Who are AvidXchange key executives?

    AvidXchange's key executives are Michael Praeger, Dan Drees and Joel Wilhite.

  • How many employees does AvidXchange have?

    AvidXchange has 1,500 employees.

  • What is AvidXchange revenue?

    Latest AvidXchange annual revenue is $149.6 m.

  • What is AvidXchange revenue per employee?

    Latest AvidXchange revenue per employee is $99.7 k.

  • Who are AvidXchange competitors?

    Competitors of AvidXchange include Beanworks, Bill.com and OFX.

  • Where is AvidXchange headquarters?

    AvidXchange headquarters is located at AvidXChange Ln, Charlotte.

  • Where are AvidXchange offices?

    AvidXchange has offices in Charlotte, Birmingham, Columbus, Houston and in 1 other location.

  • How many offices does AvidXchange have?

    AvidXchange has 5 offices.