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AvidXchange

AvidXchange develops an account payable software that offers invoice management and payment automation solutions for businesses. Read more

Michael Praeger's photo - Co-Founder & CEO of AvidXchange

Co-Founder & CEO

Michael Praeger

CEO Approval Rating

74/100

Founded:

2000

Status:

PrivateIndependent Company

AVIDXCHANGE TOP COMPETITORS OR ALTERNATIVES

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COMPANY

CEO

CEO RATING

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Bill.com is perceived as one of AvidXchange's biggest rivals. Bill.com was founded in 2006 in San Jose, California. Bill.com is in the Fintech field. Bill.com generates $2.1M more revenue than AvidXchange.

Tipalti is AvidXchange's #2 rival. Tipalti is a Private company that was founded in 2010 in San Mateo, California. Tipalti competes in the Internet Software field. Compared to AvidXchange, Tipalti has 1,100 fewer employees.

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Growth Score - 1/1

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AvidXchange Acquisitions

COMPANY ACQUIRED
ACQUISITION DATE
AMOUNT
DESCRIPTION
Core Associates, LLC

Jan 2021

Source »
undisclosed
Core Associates is a SaaS-based firm that provides AP approval processing and content management solutions for businesses.
BankTEL Systems, LLC

Aug 2019

Source »
undisclosed
BankTEL is a financial technology company that offers account, asset and vendor management solutions for retail, IT and healthcare sectors.
Ariett

Nov 2017

Source »
undisclosed
Ariett offers cloud solutions for purchase-to-pay markets that streamlines payment approvals and invoice capturing and automates expense reporting.
Strongroom Solutions, Inc.

May 2015

Source »
undisclosed
Strongroom Solutions provides treasury management products.

These are all the companies that AvidXchange has acquired. AvidXchange has acquired 4 companies and its latest acquisition was Core Associates, LLC in Jan 2021. Core Associates is a SaaS-based firm that provides AP approval processing and content management solutions for businesses.

AvidXchange Funding History

Since AvidXchange was founded in 2000, it has participated in 22 rounds of funding. In total AvidXchange has raised $1.4B. AvidXchange's last funding round was on Dec 2020 for a total of $5.0M

ROUND

FUNDING DATE

AMOUNT

INVESTORS

Equity
Dec 2020
$5M
Equity
Oct 2020
$988.1K
Equity
Sep 2020
$66M
Equity
Jul 2020
$118.9M
Equity
May 2020
$8M

Since AvidXchange was founded in 2000, it has participated in 22 rounds of funding. In total AvidXchange has raised $1.4B. AvidXchange's last funding round was on Dec 2020 for a total of $5.0M

AvidXchange Investments

No recent investments found related to AvidXchange

These are all the companies that AvidXchange has invested in. AvidXchange has invested 4 companies and its latest investment was Core Associates, LLC in Jan 2021. Core Associates is a SaaS-based firm that provides AP approval processing and content management solutions for businesses.

AvidXchange News

April 15, 2021Payments Journal

Avidxchange Launches New Purchase Order Functionality for Leading Middle Market Accounting Systems

Three-way matching capabilities, enhanced API integrations support more efficient invoice processing ... See more »
March 29, 2021The Business Journals: Raleigh/Durham

Fintech's potential IPO could raise NC's profile

AvidXchange is a Charlotte success story. In two decades, the firm has grown from a few dreamers to a... See more »
March 26, 2021The Business Journals: Charlotte

AvidXchange may be headed to an IPO. Here's what that could mean for Charlotte's tech ecosystem

AvidXchange Inc. is a Charlotte success story. In two decades, the firm has grown from a few dreamers... See more »
March 25, 2021Spend Matters

AvidXchange prepares for IPO; EU wants to block exports of COVID-19 vaccines; Sideways ship clogs Suez Canal

Categories: Accounts Payable, Afternoon Coffee, PaymentsTags: General NewsIn today's headlines, AP au... See more »
March 24, 2021Benzinga

Reuters

Mastercard Inc (NYSE: MA) and PayPal Holdings Inc (NASDAQ: PYPL) co-founder Peter Thiel-backed busine... See more »
March 24, 2021News Break

Charlotte 'unicorn' AvidXchange reportedly considering IPO, $7B valuation | News Break

CHARLOTTE - Fintech entreprenurial venture AvidXchange is considering a possible initial public offer... See more »
March 24, 2021The Business Journals: Greensboro/Winston-Salem/High Point

Charlotte unicorn with Triad connection eyeing more than $5 billion IPO in Q2

Charlotte unicorn AvidXchange Inc. is prepping for an initial public offering later this year, accord... See more »

AvidXchange Blogs

November 18, 2020AvidXchange Blog

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 stronge... See more »
November 11, 2020AvidXchange Blog

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 numb... See more »
November 4, 2020AvidXchange Blog

“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... See more »
October 26, 2020AvidXchange Blog

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 abno... See more »
October 22, 2020AvidXchange Blog

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 ... See more »
October 13, 2020AvidXchange Blog

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... See more »
October 13, 2020AvidXchange Blog

Survey: Construction Industry’s Biggest Hurdle in Accounts Payable Billing and Invoicing — Incompatible Systems

When you dive deep into all that’s going on the accounts payable (AP) market, you find out pretty qui... See more »

AvidXchange Press Releases

October 20, 2020PR Newswire

AvidXchange adds four industry executives to leadership to fuel continued growth

CHARLOTTE, N.C., Oct. 20, 2020 /PRNewswire/ -- AvidXchange, the leading provider of accounts payable ... See more »
July 9, 2020PR Newswire

Businesses leverage new technologies to combat stress and improve efficiency in the wake of COVID-19, according to new research from AvidXchange

CHARLOTTE, N.C., July 9, 2020 /PRNewswire/ -- As businesses around the world continue to navigate a n... See more »
May 28, 2020PR Newswire

AvidXchange launches virtual learning hub to support customer success

CHARLOTTE, N.C., May 28, 2020 /PRNewswire/ -- As companies around the world continue to operate remot... See more »
May 27, 2020PR Newswire

AvidXchange introduces REVx at Your Desk virtual event series, providing middle market companies tools and insights to operate more efficiently in today's environment

CHARLOTTE, N.C., May 27, 2020 /PRNewswire/ -- AvidXchange, the leading provider of accounts payable (... See more »
April 28, 2020PressReleasePoint

Avii Workspace now supports Microsoft Office 365 Calendar, and more

Avii, which makes practice management software, now fully integrates Microsoft Outlook 365 into its A... See more »
February 10, 2020PR Newswire

Finance professionals and industry leaders to converge at REVx 2020

CHARLOTTE, N.C., Feb. 10, 2020 /PRNewswire/ -- AvidXchange, the leading provider of accounts payable ... See more »
December 5, 2019PR Newswire

BankTEL Launches First AvidPay Customer

COLUMBUS, Miss., Dec. 5, 2019 /PRNewswire/ -- BankTEL, an AvidXchange company, announced today that i... See more »

AvidXchange Videos

May 21, 2021AvidXchange Youtube Channel

"Invoice-to-Pay" on YOUTUBE

May 21, 2021AvidXchange Youtube Channel

"Avid for NetSuite Overview" on YOUTUBE

May 21, 2021AvidXchange Youtube Channel

"AvidPay" on YOUTUBE

May 17, 2021AvidXchange Youtube Channel

"Purchase-to-Pay Solution Demo" on YOUTUBE

April 21, 2021AvidXchange Youtube Channel

"Invoice-to-Pay Demo" on YOUTUBE

April 7, 2021AvidXchange Youtube Channel

"AvidInvoice Explainer Video" on YOUTUBE

March 11, 2021AvidXchange Youtube Channel

"About AvidXchange" on YOUTUBE

Social Media

AvidXchange Headquarters

1210 AvidXchange Lane

Charlotte, North Carolina28206

800-560-9305

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AvidXchange Summary

ABOUT

Overview

AvidXchange develops an account payable software that offers invoice management and payment automation solutions for businesses. AvidXchange was founded in 2000. AvidXchange's headquarters is located in Charlotte, North Carolina, USA 28206. It has rai...

CEO

AvidXchange's Co-Founder & CEO, Michael Praeger, currently has an approval rating of 74%. AvidXchange's primary competitors are Bill.com, Tipalti & MineralTree.

Frequently Asked Questions about AvidXchange

  1. When was AvidXchange founded?

    AvidXchange was founded in 2000
  2. Who is AvidXchange's CEO?

    AvidXchange's CEO is Michael Praeger
  3. How much revenue does AvidXchange generate?

    AvidXchange generates $200M in revenue
  4. How much funding does AvidXchange have?

    AvidXchange has historically raised $1.4B in funding
  1. Where is AvidXchange's headquarters?

    AvidXchange's headquarters is in Charlotte North Carolina, USA
  2. How many employees does AvidXchange have?

    AvidXchange has 1,500 employees
  3. What sector does AvidXchange operate in?

    AvidXchange is in Application Software, Enterprise Software, Fintech
  4. Who are AvidXchange's competitors?

    AvidXchange's top competitors are Bill.com, Tipalti, MineralTree