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 Ratings3.6
Overall CultureD

Latest Updates

Employees (est.) (Apr 2020)1,500(+39%)
Job Openings45
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
Steve Boehm

Steve Boehm

SVP, Chief Operating Officer
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
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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

77/100

SecurityScorecard logo

AvidXchange Online and Social Media Presence

Embed Graph

AvidXchange Company Culture

  • Overall Culture

    D

    58/100

  • CEO Rating

    F

    30/100

  • Compensation

    D

    55/100

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

Automated Invoicing Guide: What It Is, Why It’s Important

As a finance professional looking towards the future, you may be interested in ways to improve the productivity of your business. You’ll take a big step in achieving that by using automated invoicing processes. We’re going to help you learn how and why. We’ll explain what automated invoicing is, the…

Oasis Solutions Partner Spotlight

In celebration of Oasis Solutions’ 30th anniversary, Partner and Chief Revenue Officer, Aaron Rosenberg participated in a Q&A to discuss the company’s continued partnership with AvidXchange and the benefits our integration with Oracle NetSuite and Sage100 has offered their clients over the years…

How to Empower Community Association Managers to Be More Productive

Community association managers are vital to the overall success of an association management company. After all, they’re responsible for communicating with boards, maintaining properties, and managing finances. Unfortunately, community managers are often stuck dealing with tedious, manual tasks that…

How to Create a More Efficient AP Department and Workflow

Keeping up with the avalanche of invoices and the inevitable payments that come with them is hard enough with a solid AP process. And while your team may be crushing ... The post How to Create a More Efficient AP Department and Workflow appeared first on AvidXchange.

AP Systems Comparison: Manual vs. Automated

As your business strives to meets its goals, you may be taking a closer look at ways to operate more efficiently. You could continue using manual accounts payable (AP) systems, ... The post AP Systems Comparison: Manual vs. Automated appeared first on AvidXchange.

2-Way vs. 3-Way Matching: What’s the Difference?

In the finance world, there tends to be some confusion and questions surrounding 2-way vs. 3-way matching. What’s the difference between the two? How does matching help businesses save time, ... The post 2-Way vs. 3-Way Matching: What’s the Difference? appeared first on AvidXchange.
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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, Steve Boehm and Dan Drees.

  • 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.