About AvidXchange
AvidXchange is a publicly listed company based in Charlotte (United States) founded in 2000, and was acquired by TPG in May 2025. Accounts payable and payment automation solutions are offered for businesses. AvidXchange has raised $1.18 billion across 20 funding rounds from investors including Mastercard, KeyBank and Corpay. The company has 1,666 employees. AvidXchange has completed 8 acquisitions, including Ariett, Ariett Mobile and AvidXchange. AvidXchange was last valued at $2.2 billion in May 2025. Its website avidxchange.com draws about 85 thousand monthly visits. AvidXchange offers products and services including Accounts Payable Automation Software, Invoice Automation, and Payment Automation. Its focus areas include Enterprise Applications, Robotic Process Automation, Enhanced Automation and Multi-Industry. Its legal entity is AvidXchange, Inc. Its competitors include Bill.com, Zip and PayGround; 3 of its 3 listed competitors have raised funding.
Company details
AvidXchange was founded in 2000 and is headquartered in Charlotte, United States. Automation solutions for accounts payable and payments are provided to mid-market businesses in the financial technology sector. Services include invoice management, purchase order processing, bill payments, utility bill handling, and check printing. The purchase-to-pay process is streamlined through integrated software tools, supporting operational efficiency across various industries.
- Annual Revenue$438.94 M (USD)15.29as on Dec 31, 2024
- Net Profit$8.14 M (USD)117.2as on Dec 31, 2024
- EBITDA$36.53 M (USD)439.5as on Dec 31, 2024
- Total Equity Funding$1.18B (USD)
in 20 rounds
- Latest Funding Round$66M (USD), Series F
Sep 2020
- InvestorsMastercard
& 28 more
- Employee Count1,666
- Investments & AcquisitionsAriett
& 7 more
- Acquired byTPG
(May 2025)
Products & Services of AvidXchange
AvidXchange offers a comprehensive portfolio of products and services, including Accounts Payable Automation Software, Invoice Automation, and Payment Automation.
Automates invoice processing and payments for business efficiency.
Streamlines invoice approvals and management processes.
Facilitates secure and automated payment disbursements.
Funding Insights of AvidXchange
AvidXchange has successfully raised a total of $1.18B across 20 strategic funding rounds. The most recent funding activity was a Series F round of $66 million completed in September 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $1.18B
- Total Rounds 20
- Last Round Series F — $66M
- First Round $1M
(May 2002)
- Investors Count 29
Latest 10 of 20 funding rounds of AvidXchange with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2020 | $66M | Series F | – | – | |
| Jul 2020 | $118.9M | Series F | – | – | – |
| May 2020 | $8.01M | Series F | – | – | – |
| Apr 2020 | $128M | Series F | – | Lone Pine Capital, Schonfeld | – |
| Dec 2019 | $130M | Series F | – | Sixth Street | – |
| Oct 2019 | $20M | Series F | – | – | – |
| Nov 2017 | $2.5M | Series F | – | – | – |
| Jun 2017 | $300M | Series F | – | Mastercard, Caisse de depot et placement du Quebec | |
| Oct 2016 | $18M | Series E | – | Fifth Third Bancorp | |
| Mar 2016 | $10M | Series E | – | – | – |
| Date | Valuation | Stage |
|---|
Full valuation and stage history of AvidXchange
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Last known valuation $2.2B (May 2025). 29 investors in total: 28 institutional and 1 angel.
Investors in AvidXchange
AvidXchange has secured backing from 29 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Mastercard, KeyBank and Corpay.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital firm partnering with enterprise software companies and early-stage funds. | sapphireventures.com | |||
Long/short and long-only strategies are employed by the hedge fund. | lonepinecapital.com | Greenwich, United States | ||
Web application services requiring JavaScript, along with potential agricultural-related offerings. | schonfeld.com | |||
Venture capital is invested in FinTech sectors by the firm. | pivotinvestment.com | New York, United States | ||
Secondary market fund focused on LP and direct secondary transactions | 1993 | nb.com | New York, United States | |
Private equity and debt investments are managed across multiple sectors. | sixthstreet.com | San Francisco, United States | ||
Investment strategies are provided across diverse asset classes and markets. | 1965 | cdpq.com | Quebec City, Canada | |
An investment platform is provided for diverse sectors and geographies. | 1974 | temasek.com.sg | Singapore, Singapore | |
Venture capital fund focused on investing in multiple sectors | baincapitalventures.com | Boston, United States | ||
Venture capital is invested in early-stage tech startups. | foundry.vc | Boulder, United States |
Investor details for AvidXchange
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People of AvidXchange
257 people are tracked at AvidXchange (85 in leadership, 10 in board & advisors, 162 in team); the tracked headcount is 1,666.
| Name | Role | Group |
|---|---|---|
Mike P. | Senior Director Of Product Management | Leadership |
Melissa Spitzer-Johnson | VP, Operations | Leadership |
Amit Patel | Director Of Strategic Partnerships | Leadership |
Rebecca Hughes | VP Of Product Management | Leadership |
Jim Morgan | Head Of Customer Success | Leadership |
Jorge Hernandez | VP Of Software Engineering | Leadership |
Brianna Castros | Talent Acquisition Partner | Leadership |
Michael Praeger | CEO, Co-Founder, & Board Member | Leadership |
Dan Drees | President | Leadership |
Mansi Sharma | Director Of Product Management | Leadership |
Callum Tanner | Finance Business Partner | Leadership |
Kimberli O'Meara | Senior Partner Marketing Manager | Leadership |
Ally Traetto | Senior Director, Learning And Development | Leadership |
Swarup Bandyopadhyay | Senior Director Of Software Development | Leadership |
Joel Wilhite | CFO | Leadership |
Todd Cunningham | Chief People Officer | Leadership |
Madison Kirk | Partner Support Manager | Leadership |
Hollie Reinhart | Senior Director Of HR Business Partners & Talent Management | Leadership |
Bilal Hussain | Director - Customer Insights | Leadership |
Jason Krull | Global Partner Manager | Leadership |
237 more people are available in the full profile.
Complete people profiles for AvidXchange
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IPO & Listings of AvidXchange
AvidXchange is a publicly listed company on the NASDAQ with ticker symbol AVDX in USA, operating in the Technology services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date13 Oct 2021
- Listed onNASDAQ: AVDX
- Listed entityAvidXchange Holdings, Inc.
- Exchange sectorTechnology services
- Share price$9.96 · 2025-09-29
- Market capitalisation$2.07B
- EPS (diluted, trailing year)$-0.04
- Volume (last session)855,319
- Analyst consensusNeutral
Financials of AvidXchange
| Year | Revenue | Net income | EBITDA |
|---|---|---|---|
| 2024 | $438.9M | $8.1M | $36.5M |
| 2023 | $380.7M | -$47.3M | -$10.8M |
| 2022 | $316.4M | -$101.3M | -$54.5M |
| 2021 | $248.4M | -$214.8M | -$76.6M |
Detailed financial statements for AvidXchange
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Investments & Acquisitions by AvidXchange
AvidXchange has strategically engaged in corporate development activities, having acquired 8 companies. Notable acquisitions include Ariett, Ariett Mobile and AvidXchange.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Liquidity and workflow solutions are offered to digital media firms. | gofastpay.com | Beverly Hills, United States | 2009 | Jul 2021 | •••• | |
Cloud-based ERP software is offered for construction professionals. | core-assoc.com | Jupiter, United States | 2007 | Jan 2021 | •••• | |
Accounting and cash management software is supplied to financial institutions. | banktel.com | Columbus, United States | 1992 | Aug 2019 | •••• | |
Cloud-based procure-to-pay software is provided by Ariett. | ariettmobile.net | Marshfield, United States | 2001 | Nov 2017 | •••• | |
Cloud-based procure-to-pay automation solutions are provided by Ariett. | ariett.com | Pembroke, United States | 1990 | Nov 2017 | •••• | |
Cloud-based accounts payable software is provided for SMBs. | strongroomsolutions.com | Houston, United States | 2007 | May 2015 | •••• | |
Payment management tools provider | piracle.com | Salt Lake, United States | 1991 | Nov 2014 | •••• | |
Electricity transmission-based utility projects are developed by Energysolve. | energysolve.com | Somerset, United States | 2002 | Nov 2010 | •••• |
Complete acquisition details for AvidXchange
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Timeline of AvidXchange
14 dated milestones of AvidXchange across 25 years, from founding to its latest funding, stage changes and deals.
- Founded AvidXchange is founded.
- Funding First funding round of $1.0M.
- Acquisition Acquires Energysolve.
- Acquisition Acquires Piracle.
- Acquisition Acquires Strongroom Solutions.
- Milestone Reaches Unicorn status.
- Acquisition Acquires Ariett Mobile.
- Acquisition Acquires Ariett.
- Acquisition Acquires BankTEL.
- Funding Latest funding round, Series F, of $66.0M.
- Acquisition Acquires Core Associates.
- Acquisition Acquires AvidXchange.
- IPO Lists on the stock exchange (IPO).
- Exit Acquired by TPG.
Competitors of AvidXchange
AvidXchange has 3 listed competitors in our database, 3 of them funded. They include Bill.com, Zip and PayGround.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| bill.com | 2006 | Palo Alto, United States | $325.6M | 1,384 | Cloud-based accounts payable and receivable software for businesses | |
| ziphq.com | 2020 | San Francisco, United States | $358.15M | 218 | Cloud-based purchase approval management software is provided for businesses. | |
| payground.com | 2010 | Gilbert, United States | $29.33M | Cloud-based invoice payment solutions are provided to businesses. |
Detailed competitors of AvidXchange
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Web traffic of AvidXchange
The website of AvidXchange (avidxchange.com) receives about 85.1K visits a month and ranks #419,023 among all websites worldwide, #5,278 in Financial Planning and Management.
- Monthly visits85.1K
▲ 5.7% vs previous month
- Unique visitors37.9K
per month
- Global rank#419,023
among all websites
- Category rank#5,278
Finance · Financial Planning and Management
- Bounce rate45%
- Pages per visit2.7
- Average visit1 min 32 sec
- DevicesDesktop 71% · Mobile 29%
Websites whose visitors overlap most with AvidXchange. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| bottomline.com | 100% | 74K | #434,349 | View details | |
| bill.com | 93% | 4.3M | #7,262 | View details | |
| tipalti.com | 92% | 1.1M | View details | ||
| trintech.com | 91% | 92.2K | #450,323 | View details | |
| mineraltree.com | 91% | 41.2K | #400,419 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 38 similar websites and full traffic analytics for AvidXchange
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Top companies in Robotic Automation Systems
3 companies that operate in the same segment as AvidXchange (Robotic Automation Systems) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based low-code platform enables application development and automation. | 1999 | Reston, Virginia, United States | USD 47.5 M | USD 726.94 M | 2,029 | |
Provider of an end-to-end AI agent builder platform | 2012 | San Francisco, California, United States | USD 368.56 M | 682 | ||
An AI-based platform for robotic process automation is provided. | 2003 | San Jose, California, United States | USD 840 M | USD 47.45 M | 2,385 |
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Related news about Avidxchange
Complete news archive for AvidXchange
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Frequently Asked Questions about AvidXchange
AvidXchange was founded in 2000 and raised its 1st funding round 2 years after it was founded.
AvidXchange is headquartered in Charlotte, United States. It is registered at Charlotte, North Carolina, United States.
AvidXchange is a funded company, having raised a total of $1.18B across 20 funding rounds to date. The company's 1st funding round was a Series E of $10M, raised on May 2002.
AvidXchange has 1,666 employees.
Annual revenue of AvidXchange is $438.94M as on Dec 31, 2024.
AvidXchange was founded in 2000 and is headquartered in Charlotte, United States. Automation solutions for accounts payable and payments are provided to mid-market businesses in the financial technology sector. Services include invoice management, purchase order processing, bill payments, utility bill handling, and check printing. The purchase-to-pay process is streamlined through integrated software tools, supporting operational efficiency across various industries.
AvidXchange offers Accounts Payable Automation Software, Invoice Automation, and Payment Automation.
Yes, AvidXchange is publicly traded on NASDAQ under the ticker symbol AVDX.
AvidXchange has made 8 acquisitions, including Ariett, Ariett Mobile, and AvidXchange.
AvidXchange has 29 investors. Key investors include Mastercard, KeyBank, Corpay, Fifth Third Bancorp, and HarbourVest Partners.
The valuation of AvidXchange is $2.2B as of May 2025.