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About AvidXchange
Industries
Enterprise Software
Fintech
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Charlotte, North Carolina
Founded
2000
Overview
AvidXchange automates accounts payable and payment processes for businesses, helping them to streamline financial operations and save time and money. Their products include invoice management, bill payment, purchase order, and check printing software, all aimed at simplifying the payment process. AvidXchange's platform significantly reduces invoice processing times from an average of 10 days to just 3 days, and it is accessible online 24/7, making it convenient for remote work. Unlike many competitors, AvidXchange focuses on providing a comprehensive suite of tools tailored for various industries, including healthcare, construction, and real estate. The company's goal is to enhance financial security and efficiency for its clients through its software-as-a-service model, which includes subscription and transaction fees.
Simplify's Take
What believers are saying
- Partnership with MIP Fund Accounting expands reach in the nonprofit sector.
- Exclusive partnership with Workamajig targets media companies, enhancing market penetration.
- Middle-market focus allows tailored solutions, capturing significant market share.
What critics are saying
- Delay in new spend management platform launch may lead to missed revenue opportunities.
- Failure to meet job-growth targets could result in reputational damage.
- Increased competition from fintech startups may erode market share.
What makes AvidXchange unique
- AvidXchange automates AP processes, reducing invoice processing from 10 days to 3 days.
- The company offers a comprehensive suite of tools for diverse industries.
- AvidXchange's SaaS model provides 24/7 online access, enhancing remote work flexibility.
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Funding
Total Funding
$1680.3M
Above
Industry Average
Funded Over
9 Rounds
Founders FundBenefits
Health Insurance
Dental Insurance
Life Insurance
Disability Insurance
401(k) Company Match
Parental Leave
Unlimited Paid Time Off
Paid Vacation
Hybrid Work Options
Wellness Program
Tuition Reimbursement
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 0%2 year growth
↑ 0%The FinTech IPO Index was awash in a sea of red this past week, with nary a positive showing to be found. Earnings were met, by and large, with dissatisfaction, as investors sent shares down by double digits in many cases, even when results topped expectations or management’s projections. The index slid by 6.2%. Flywire Leads Declining Stocks
Additionally, AvidXChange has launched new products, including Payment Accelerator 2.0, and plans to introduce a new spend management platform in the latter half of 2025.
In 2014, AvidXchange agreed to invest at least $19.3 million and create 543 jobs paying an average minimum wage of $55,486 a year by 2023.
Paloma Partners Management Co invests $495,000 in AvidXchange Holdings, Inc. (NASDAQ:AVDX).
Over the weekend, Insight Global, in partnership with AvidXchange, hosted 346 job seekers at its Be the Light Tour career event in Charlotte, N.C.
AvidXchange is Hiring for 21 Jobs on Simplify!
Find jobs on Simplify and start your career today
About AvidXchange
Industries
Enterprise Software
Fintech
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Charlotte, North Carolina
Founded
2000
AvidXchange is Hiring for 21 Jobs on Simplify!
Find jobs on Simplify and start your career today