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AvidXchange is an acquired company based in Charlotte (United States), founded in 2000 by Michael Praeger and Chris Tinsley. 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 $4.9B. The company has 654 active competitors, including 93 funded and 33 that have exited. Its top competitors include companies like Bill.com, Zaggle and Zapier.
Sectors and market segments that AvidXchange operate in
AvidXchange serves in the B2B, SaaS space 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 **********
Key Metrics
Founded Year
2000
Location
Charlotte, United States
Stage
Acquired
Total Funding
$1.18B in 20 rounds
Latest Funding Round
Last Known Valuation
$4.9B as on Oct 13, 2021
Investors
Ranked
3rd among 654 active competitors
Annual Revenue
$381M as on Dec 31, 2023
Employee Count
1,714 as on Dec 31, 2022
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 |
|---|---|---|---|---|
Nov 25, 2016 | - | - | - | |
Jan 26, 2021 | $381M (as on Dec 31, 2023) | - | - | |
Dec 31, 1999 | - | 1714 (as on Dec 31, 2022) | - |
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AvidXchange's acquisition details
AvidXchange got acquired by TPG and Corporate Payroll Services on May 06, 2025 at an acquisition amount of $2.2B. It was facilitated by FT Partners, Barclays, RBC Capital Markets and 7 more.
Click here to take a look at AvidXchange's acquisition in detail
AvidXchange's funding and investors
Filter this listAvidXchange 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, which include HarbourVest Partners, TPG, Caisse de depot et placement du Quebec and Temasek.
AvidXchange has 27 institutional investors including Mastercard, Sixth Street and Bain Capital Ventures. Peter Thiel is only Angel Investor in AvidXchange.
Here is the list of recent funding rounds of AvidXchange:
Date of funding | Funding Amount | Round Name | Post money valuation | Revenue multiple | 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 are Michael Praeger and Chris Tinsley.
Here are the details of AvidXchange's key team members:
- Michael Praeger: Co-Founder & CEO of AvidXchange. Contact Info: 1 email address
- Chris Tinsley: Co-Founder & CTO of AvidXchange. Contact Info: 1 email address
View details of AvidXchange's Founder profiles and Board Members
AvidXchange's employee count trend
AvidXchange has 1,714 employees as of Dec 22. The total employee count is 28.0% more than what it was in Dec 21. Here is AvidXchange's employee count trend over the years:Uncover AvidXchange's growth story! Sign up today!Access Tracxn on any website
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AvidXchange's Competitors and alternates
Top competitors of AvidXchange include Bill.com, Zaggle and Zapier. Here is the list of Top 10 competitors of AvidXchange, ranked by Tracxn score:
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Overall Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Bill.com 2006, Palo Alto (United States), Public | Cloud-based accounts payable and receivable software for businesses | $326M | 82/100 | |
2nd | Provider of prepaid cards for employee benefits | $13.7M | 82/100 | ||
3rd | AvidXchange 2000, Charlotte (United States), Acquired | Accounts payable and payment automation solution for businesses | $1.18B | 75/100 | |
4th | Zapier 2011, San Francisco (United States), Seed | Provider of no-code automation and AI workflow tools | $2.68M | 64/100 | |
5th | Financial solutions platform provider | $378M | 64/100 | ||
6th | Zip 2020, San Francisco (United States), Series D | Cloud-based purchase approval management software provider | $333M | 63/100 | |
7th | AI powered automation and work execution system management platform | $211M | 63/100 | ||
8th | Digital administrative tasks and billing management tools for providers | $71.6M | 62/100 | ||
9th | RapidClaims 2023, Manhattan (United States), Series A | Provider of medical invocing and documentation solutions | $11.1M | 59/100 | |
10th | Thoughtful 2020, Chicago (United States), Series A | AI-powered healthcare administration platform to automate tasks | $20M | 58/100 |
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AvidXchange's Investments and acquisitions
Filter this listAvidXchange has not made any investments yet. AvidXchange has made 7 acquisitions. Here is the list of latest three $acquisitions:
Date 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 |
Want to know more about where corporates are investing? Sign up today!See all acquisitions by AvidXchange
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 46 events in the last 1 year, 24 of them have been about company updates and 1 about partnerships.
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SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of AvidXchange Holdings, Inc.Benzinga•Jun 18, 2025•AvidXchange
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Shareholder Investigation: Halper Sadeh LLC Investigates LSEA, FARO, AVDXBenzinga•May 27, 2025•Landsea Homes, FARO Technologies, Halper Sadeh, AvidXchange
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Neo Ivy Capital Management Acquires AvidXchange Holdings StockMarketBeat•May 25, 2025•AvidXchange, Neo IVY Capital
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AvidXchange CEO Shares Insights on Building a Tech GiantThe Business Journals•May 21, 2025•AvidXchange
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Halper Sadeh LLC Investigates LSEA, FARO, LNSR, AVDXPR Newswire•May 19, 2025•Halper Sadeh, Landsea Homes, FARO Technologies, LensAR and 1 other
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Halper Sadeh LLC Investigates LSEA, FARO, LNSR, AVDX on Behalf of Shareholders
Benzinga•May 14, 2025•Landsea Homes, FARO Technologies, Halper Sadeh, LensAR and 1 other
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Halper Sadeh LLC Investigates AVDX, RDFN, AZEK, TURNPR Newswire•May 13, 2025•Halper Sadeh, AvidXchange, The AZEK, 180 Degree Capital and 1 other
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Brodsky & Smith Investigating Acquisitions of Four CompaniesBenzinga•May 13, 2025•Brodsky Smith, Landsea Homes, AvidXchange, FARO Technologies
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Corpay to acquire stake in NC public company in take-private dealThe Business Journals•May 09, 2025•Corporate Payroll Services, AvidXchange
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AvidXchange misses top-line and bottom-line estimates; suspends FY25 outlookSeeking Alpha•May 07, 2025•AvidXchange
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