About AvidXchange
AvidXchange is a Financial Services company based in Beverly Hills (United States) founded in 2009, and was acquired by SLR Business Credit in August 2021. Liquidity and workflow solutions are offered to digital media firms. It operates on a SaaS (Software-as-a-Service) and Managed Services model. AvidXchange has raised $15 million across 5 funding rounds from investors including AvidXchange, The Arena Group and Wells Fargo. The company has 56 employees. AvidXchange has completed 1 acquisition, including AnchorOps. AvidXchange offers products and services including Accounts Payable Automation, Invoice Automation, Payment Automation, and Spend Management. Its focus areas include Technology, Financial Technology and Payment Solutions. Its competitors include Nvoicepay, LSQ and LiquidX; 3 of its 3 listed competitors have raised funding.
Company details
AvidXchange is focused on delivering accounts payable automation, invoice automation, payment automation, and spend management solutions. Services are provided across various industries including real estate, construction, financial services, healthcare, hospitality, media, technology, education, nonprofits, and government. Integrations with platforms like Oracle NetSuite, QuickBooks, Microsoft, Sage, and others are supported. The company is recognized for leveraging AI in finance and offering supplier support through hubs and straight-through processing.
- Headquarters Beverly Hills, United States
- Employees 56
- Stage Acquired
- SectorsFinancial Services
- Phone•••• ••••
- Website gofastpay.com
- Social LinkedIn X Facebook Instagram
- Acquired by SLR Business Credit (Aug 2021)
- Legal Name Avidxchange
- Total Equity Funding$15M (USD)
in 5 rounds
- Latest Funding Round$25M (USD), Debt – Conventional
Feb 2022
- InvestorsAvidXchange
& 6 more
- Employee Count56
- Investments & Acquisitions
- Acquired by
Products & Services of AvidXchange
AvidXchange offers a comprehensive portfolio of products and services, including Accounts Payable Automation, Invoice Automation, Payment Automation, and Spend Management.
Automation of accounts payable processes is provided efficiently.
Invoice processing is streamlined through automated software solutions.
Payment processes are automated for enhanced operational efficiency.
Spend management solutions are offered for better control.
Funding Insights of AvidXchange
AvidXchange has successfully raised a total of $15M across 5 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $25 million completed in February 2022. 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 $15M
- Total Rounds 5
- Last Round Debt – Conventional — $25M
- First Round $25M
(Jun 2012)
- Investors Count 5
All 5 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 |
|---|---|---|---|---|---|
| Feb 2022 | $25M | Debt – Conventional | – | – | |
| Sep 2016 | Series A | – | Citi Ventures | – | |
| Nov 2014 | $15M | Series A | – | Oak HC/FT | – |
| Feb 2013 | $10M | Debt – Conventional | – | – | |
| Jun 2012 | $25M | Debt – Conventional | – | – |
7 investors in total: 7 institutional.
Investors in AvidXchange
AvidXchange has secured backing from 7 investors, including institutional and venture fund investors. Prominent investors backing the company include AvidXchange, The Arena Group and Wells Fargo.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Corporate venture capital firm backed by Citi | citi.com/ventures | San Francisco, United States | ||
Investments are made in early-stage healthtech and fintech startups. | oakhcft.com | Stamford, United States | ||
PE firm investing in the US | sfcapgroup.com | New York, United States | ||
Ad network software platform connects advertisers with publishers. | 2011 | thearenagroup.net | New York, United States | |
Diverse financial services and online banking are provided to clients. | 1852 | wellsfargo.com | San Francisco, United States | |
Provides asset-based lending, working capital, and invoice financing for businesses in various sectors. | 2020 | slrbusinesscredit.com | Princeton, United States | |
Accounts payable and payment automation solutions are offered for businesses. | 2000 | avidxchange.com | Charlotte, United States |
Investor details for AvidXchange
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- Complete investor list
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People of AvidXchange
19 people are tracked at AvidXchange (5 in leadership, 14 in team); the tracked headcount is 56.
| Name | Role | Group |
|---|---|---|
Melissa Spitzer | VP, Operations | Leadership |
Michael Cheung | VP, Credit & Lending Operations | Leadership |
Frank Han | VP, Product | Leadership |
Theresa Contario | VP, Media Sales | Leadership |
Melissa Johnson | Vp, Operations | Leadership |
Eve Churchill | Sr. Marketing Events Manager | Team |
Amanda Fowler | Media Operations Analyst | Team |
Gbenga Akinyelure | Finance Specialist | Team |
Brittny H. | Media Operations Analyst | Team |
Gabe Markarian | Product Manager | Team |
Clinton Ellery Breckenridge Jr | Account Executive | Team |
Shannon Ellenbogen | Media Operations Analyst | Team |
Brian Frazier | Senior Account Executive Political East Coast | Team |
Michelle L. | Principal Customer Success Manager | Team |
Shawn Bradford | Senior Customer Success Manager | Team |
Cooper Brown | Media Operations Analyst | Team |
Emily Paras | Team Lead - Media Operations Analyst | Team |
Toni Pope | Customer Care Advocate | Team |
Shawn Burns | Account Executive, Media | Team |
Complete people profiles for AvidXchange
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
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- Professional contacts
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Investments & Acquisitions by AvidXchange
AvidXchange has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include AnchorOps.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Electronic payment solutions for media industry operations are streamlined. | anchorops.com | Framingham, United States | 2012 | Oct 2017 | •••• |
Complete acquisition details for AvidXchange
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
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- Complete history
- Exports
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Timeline of AvidXchange
6 dated milestones of AvidXchange across 13 years, from founding to its latest funding, stage changes and deals.
- Founded AvidXchange is founded.
- Funding First funding round of $25.0M.
- Acquisition Acquires AnchorOps.
- Exit Acquired by AvidXchange.
- Exit Acquired by SLR Business Credit.
- Funding Latest funding round, Debt – Conventional, of $25.0M.
Competitors of AvidXchange
AvidXchange has 3 listed competitors in our database, 3 of them funded. They include Nvoicepay, LSQ and LiquidX.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| nvoicepay.com | 2009 | Beaverton, United States | $28.79M | 118 | AP automation, commercial cards, and cross-border payments are provided. | |
| lsq.com | 1996 | Orlando, United States | $130M | 130 | Trade financing loans are facilitated via an online marketplace. | |
| liquidx.com | 2015 | New York, United States | $65.01M | Provider of a blockchain-enabled marketplace for trade finance assets and supply chain financing |
Detailed competitors of AvidXchange
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
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Web traffic of AvidXchange
Websites that share an audience with AvidXchange (gofastpay.com).
Websites whose visitors overlap most with AvidXchange. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| fastpayltd.co.uk | 100% | 14.9K | #1,553,238 | View details | |
| cdixon.org | 74% | #641,571 | View details | ||
fastpaypayroll.com | fastpaypayroll.com | 73% | – | ||
fpkita.net | fpkita.net | 55% | – | ||
| cornerstoneondemand.com | 21% | 175.8K | #259,972 | View details |
Top companies in Alternative Lending
3 companies that operate in the same segment as AvidXchange (Alternative Lending) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Diversified loans are provided via an AI-enabled online marketplace. | 2012 | Palo Alto, California, United States | USD 128.65 M | USD 1.04 B | 1,190 | |
Various consumer loans and financial services are offered online. | 2011 | San Francisco, California, United States | USD 3.04 B | USD 4.77 B | 6,843 | |
Credit score checking and comparison platform for financial products | 2007 | San Francisco, California, United States | USD 869.77 M | 1,487 |
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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 2009 and raised its 1st funding round 3 years after it was founded.
AvidXchange is headquartered in Beverly Hills, United States. It is registered at Beverly Hills, California, United States.
AvidXchange is a funded company, having raised a total of $15M across 5 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $25M, raised on Jun 2012.
AvidXchange has 56 employees.
AvidXchange is focused on delivering accounts payable automation, invoice automation, payment automation, and spend management solutions. Services are provided across various industries including real estate, construction, financial services, healthcare, hospitality, media, technology, education, nonprofits, and government. Integrations with platforms like Oracle NetSuite, QuickBooks, Microsoft, Sage, and others are supported. The company is recognized for leveraging AI in finance and offering supplier support through hubs and straight-through processing.
AvidXchange offers Accounts Payable Automation, Invoice Automation, Payment Automation, and Spend Management.
AvidXchange has made 1 acquisition, including AnchorOps.
AvidXchange has 7 investors. Key investors include AvidXchange, The Arena Group, Wells Fargo, Citi Ventures, and Oak HC/FT.
AvidXchange operates through Avidxchange.
Yes. AvidXchange was acquired by SLR Business Credit in August 2021.