AvidXchange - About the company
AvidXchange is an acquired company based in Charlotte (United States), founded in 2000 by Michael Praeger. It operates as an Accounts payable and payment automation solution for businesses. AvidXchange has raised $1.18B in funding from investors like Mastercard, Sixth Street and Bain Capital Ventures, with last known valuation of $2.2B. The company has 983 active competitors, including 117 funded and 50 that have exited. Its top competitors include companies like Zapier, Konfío and LaiYe.
Sectors and market segments that AvidXchange operate in
AvidXchange serves in the FinTech market segments.The primary business model of AvidXchange is:Company Details
Accounts payable and payment automation solutions for businesses. Its features include purchase order management, automated invoice management, bill payments, utility bill management, check to print, and more. It offers automated invoice management software to manage invoices; bill payment automation software to manage supplier payments; purchase order automation software for automating the purchase-to-pay process.
- Website
- avidxchange.com
- Social
- Email ID
- *****@avidxchange.com
- Phone Number
- +1 **********
- Registered Address
- Charlotte, North Carolina
Key Metrics
Founded Year
2000
Location
Charlotte, United States
Stage
Acquired
Total Funding
$1.18B in 20 rounds
Latest Funding Round
Last Known Valuation
$2.2B as on May 06, 2025
Investors
Ranked
1st among 983 active competitors
Annual Revenue
$100M - $500M as on Dec 31, 2024
Employee Count
1,698 as on May 31, 2026
Investment & Acquisitions
Exit Details
Acquired by TPG (May 06, 2025)
Legal entities associated with AvidXchange
AvidXchange is associated with 3 legal entities given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
AVIDXCHANGE HOLDINGS, INC. CIN: 1858257 , United States, Active | Jan 26, 2021 | $100M - $500M (As on Dec 31, 2024) | - | - |
AVIDXCHANGE, INC. CIN: 562193588 , United States, Active | Dec 31, 1999 | - | 1771 (As on Dec 31, 2024) | - |
AVIDXCHANGE, INC. CIN: 5043146 , United States, Active | Nov 25, 2016 | - | - | - |
AvidXchange's acquisition details
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AvidXchange's funding and investors
AvidXchange has raised a total funding of $1.18B over 20 rounds. Its first funding round was on May 13, 2002. Its latest funding round was a Series F round on Sep 03, 2020 for $66M. 1 investor participated in its latest round. AvidXchange has 29 institutional investors and 1 angel investor.
Here is the list of recent funding rounds of AvidXchange:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Sep 03, 2020 | $66M | Series F | - | - | - | |
Jul 30, 2020 | $119M | Series F | - | - | - | - |
May 21, 2020 | $8.01M | Series F | - | - | - | - |
Access funding benchmarks and valuations. Sign up today!View details of AvidXchange's funding rounds and investors
AvidXchange's founders and board of directors
Founder? Claim ProfileThe founders of AvidXchange is Michael Praeger.
Here are the details of AvidXchange's key team members:
- Michael Praeger: Co-Founder & CEO of AvidXchange. Contact Info: 1 email address
View details of AvidXchange's Founder profiles and Board Members
AvidXchange's employee count trend
AvidXchange has 1,698 employees as of May 26. Here is AvidXchange's employee count trend over the years:
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AvidXchange's Competitors and alternates
Top competitors of AvidXchange include Zapier, Konfío and LaiYe. Here is the list of Top 10 competitors of AvidXchange, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st |  AvidXchange 2000, Charlotte (United States), Acquired | Accounts payable and payment automation solution for businesses | $1.18B | 73/100 | |
2nd | Zapier 2011, San Francisco (United States), Seed | Provider of a platform for automating workflows and integrating applications | $2.68M | 67/100 | |
3rd | Financial solutions platform provider | $378M | 66/100 | ||
4th | AI powered automation and work execution system management platform | $211M | 66/100 | ||
5th | RapidClaims 2023, Manhattan (United States), Series A | Provider of AI-powered platform for revenue cycle management and intelligence | $11.1M | 65/100 | |
6th | _1524470201855.png?devicePixelRatio=2&height=30&width=30){kind=logo} RoadSync 2015, Atlanta (United States), Series B | Accounts receivable solutions for businesses | $40M | 65/100 | |
7th | Provider of AI, SaaS, and Fintech digital solutions and services | $192M | 63/100 | ||
8th |  Ottimate 2014, San Francisco (United States), Series B | Provider of AI-powered accounts payable automation software for multiple industries | $164M | 62/100 | |
9th | Kognitos 2021, San Jose (United States), Series B | Developer of software for automating complex business processes using English | $51.8M | 62/100 | |
10th | Provider of B2B payments solutions | $5.6M | 62/100 |
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AvidXchange's Investments and acquisitions
AvidXchange has not made any investments yet. AvidXchange has made 7 acquisitions.Here is the list of latest three $acquisitions:Filter this list
Filter this listDate of Investment/Acquisition | Type | Company Name | Founded Year | Location |
|---|---|---|---|---|
Jan 04, 2021 | Acquisition | 2007 | Jupiter (United States) | |
Aug 27, 2019 | Acquisition | 1992 | Columbus (United States) | |
Nov 20, 2017 | Acquisition | 2001 | Marshfield (United States) |
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Reports related to AvidXchange
Here is the latest report on AvidXchange's sector:
News related to AvidXchange
Filter this listMedia has covered AvidXchange for a total of 21 events in the last 1 year, 8 of them have been about company updates and 3 about partnerships.
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Wade Fairey Joins AvidXchange as Chief Operating OfficerGlobal Fintech Series•Jun 05, 2026•AvidXchange
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AvidXchange Launches Embedded AP Payments for Acumatica CustomersGlobeNewswire•May 26, 2026•AvidXchange
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AvidXchange Announces Embedded Supplier Payment Automation for AppFolioGlobeNewswire•Mar 03, 2026•AppFolio, AvidXchange
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Acumatica Selects AvidXchange to Power Payment Automation AccessibilityGlobeNewswire•Jan 26, 2026•AvidXchange, Acumatica
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AvidXchange Empowers ERP Partners with Accounts Payable as a ServiceGlobal Fintech Series•Dec 30, 2025•AvidXchange
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AvidXchange Empowers ERP Partners with Accounts Payable as AccessibilityGlobeNewswire•Dec 17, 2025•AvidXchange
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New Study Reveals the “New Normal” in Finance: Economic AccessibilityGlobeNewswire•Nov 06, 2025•AvidXchange
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Corpay and TPG complete acquisition of AvidXchangeFusoes & Aquisicoes•Oct 16, 2025•Corpay, Tpg, AvidXchange, TPG
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