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, US
Websiteavidxchange.com
Employee Ratings3.5

Latest Updates

Employees (est.) (Apr 2020)1,500(+39%)
Job Openings40
Cybersecurity ratingBMore

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, Franklin Township and in 3 other locations
Charlotte, US (HQ)
AvidXChange Ln
Birmingham, US
Two Perimeter Park South, Suite 500 East, Perimeter Park S
Columbus, US
319 Park Creek Dr
Franklin Township, US
1 Executive Dr #401, Somerset
Houston, US
2100 Travis St #300Houston
Pembroke, US
33 Riverside Dr #100Pembroke
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AvidXchange Financials and Metrics

Summary Metrics

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.
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AvidXchange Revenue

Market valuation

1.0b
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AvidXchange Operating Metrics

FY, 2018Nov, 2019Apr, 2020

Customers (North America)

5.50 k6 k

Partners

33

Software Products

5

Suppliers

500 k600 k
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AvidXchange Acquisitions / Subsidiaries

Company NameDateDeal Size
BankTEL SystemsAugust 27, 2019

AvidXchange Cybersecurity Score

Cybersecurity ratingPremium dataset

B

84/100

SecurityScorecard logo

AvidXchange Online and Social Media Presence

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AvidXchange News and Updates

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...

AvidXchange targets $2 bln valuation in funding round -sources

Business payments processing firm AvidXchange Inc, whose investors include Mastercard Inc and Peter Thiel, the co-founder of PayPal Holdings Inc, has launched a new private fundraising round that could value it at around $2 billion, people familiar with the matter said on Sunday.

AvidXchange Launches Accounts Payable and Payment Automation Solutions for Long-Term Healthcare and Social Services

CHARLOTTE, N.C., Oct. 21, 2019 /PRNewswire/ -- AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the middle market, is launching AvidPay and AvidInvoice for the long-term healthcare and social services industry. By eliminating manual,...
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AvidXchange Blogs

2021 Outlook for the Accounts Payable Software Market — New AvidXchange and IOFM Report

As 2020 comes to a close, it’s time to build on all we learned and look forward to coming out stronger than ever in 2021. The good news is we’ll all have new opportunities for new growth and stability by reallocating resources, trading out temporary solutions for long-term remedies and tackling prob…

New Survey: Despite Difficult Business Conditions, Real Estate Pros Remain Interested in Financial Technologies

During the last six months of widespread business upheaval, the real estate industry has faced a number of challenges including stalled or reduced investments, declining revenues and resource constraints. We wanted to learn more about these challenges, as well as opportunities real estate profession…

“Red Flags” To Watch For to Prevent Corporate Fraud

As a finance professional, you’re well aware that corporate fraud is widespread. But you may not know all the different ways you can detect and prevent fraud from happening so your company doesn’t lose sensitive personal and corporate information – and money. There are several warning signs, also kn…

Unusual Year-End Closing Process Headed Your Way: What to Do (and Not Do)

Just about everything about the year 2020 has been – and will continue to be – about changes and abnormalities. As a financial professional, count on that trend being a powerful force as you start to plan and execute the annual year-end closing process for your business. Expect changes – in many cas…

Pursuing High-Tech Talent Will Help Drive Commercial Real Estate Industry Growth

With so many people this year suddenly working from home, the commercial real estate industry is now faced with challenges in how to stimulate industry growth. One way is to invest more in employees with advanced technology skills. These people will help these companies use technologies to be more p…

San Antonio Zoo Betters Its Vendor Relationships Using AvidXchange AP Automation System

Dana Nelson, finance manager at the San Antonio Zoo, remembers what life in the finance department at the zoo was like before AvidXchange. In a word, “awful,” she says. She recalls that before implementation of AvidInvoice and AvidPay – automated accounts payable (AP) systems — invoices were stored …
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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.

  • 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, Franklin Township and in 3 other locations.

  • How many offices does AvidXchange have?

    AvidXchange has 7 offices.