AvidXchange is a provider of accounts payable and on-demand invoice management solutions.
AvidXchange offers electronic invoice capture, invoice approval workflow, invoice and bill payment reporting, utility bill analytics and payment solution, centralized invoicing processing, account payable solution, and accounting system integration software solutions.
AvidXchange was founded in 2000 by Michael Praeger & Chris Tinsley and is based in Charlotte, North Carolina. AvidXchange was incorporated as AvidXchange.com, Inc. in 2000 and changed to its present name in July 2002.
AvidXchange revolutionizes the way companies pay their bills by automating invoice and bill payment processing. They are automation experts and have been automating companies’ bill pay processes for more than 15 years to reduce costs, improve productivity and eliminate paper from their bill payment process.
AvidXchange works with vendors to electronically send and receive invoices and has standard integration to more than 100 accounting systems.
AvidXchange's lead investors includes Temasek Holdings, TPG Sixth Street Partners, Bain Capital Ventures, Fifth Third Capital, Charlotte Angel Partners & CT Communications among others. The company raised another $118.9M in a new round on Aug 13, 20200. This brings AvidXchange's total funding to $1.1B to date. AvidXchange was valued at $1.4B from its Seriess F funding round on Jun 9, 2017.