AvidXchange

AvidXchange

Automates accounts payable and payment processes

About AvidXchange

Simplify's Rating
Why AvidXchange is rated
A-
Rated A on Competitive Edge
Rated B on Growth Potential
Rated A on Differentiation

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 reduce manual tasks and improve efficiency. Their products include invoice management, bill payment, purchase order, and check printing software, all aimed at simplifying the payment process. AvidXchange serves various industries such as banking, healthcare, and construction, providing tools that enhance financial security and offer flexible payment options. The company operates on a software-as-a-service model, where clients pay a subscription fee for access to their platform. AvidXchange's platform significantly speeds up 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. The goal of AvidXchange is to optimize financial operations for businesses, ensuring timely payments and reducing inefficiencies.

Simplify Jobs

Simplify's Take

What believers are saying

  • AI-driven invoice processing is gaining popularity, aligning with AvidXchange's recent AI enhancements.
  • The demand for real-time payment solutions supports AvidXchange's e-payment offerings.
  • Remote work trends increase demand for mobile-friendly solutions, benefiting AvidXchange's platform.

What critics are saying

  • AvidXchange's stock was downgraded due to concerns over fiscal year 2025 guidance.
  • Job growth targets tied to state grants were not fully met, affecting future support.
  • The acquisition by Corpay and TPG may lead to strategic shifts disrupting operations.

What makes AvidXchange unique

  • AvidXchange automates AP processes, reducing invoice processing from 10 days to 3 days.
  • The platform offers a comprehensive suite of tools for diverse industries, enhancing efficiency.
  • AvidXchange's SaaS model provides 24/7 online access, supporting remote work flexibility.

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Funding

Total Funding

$1680.3M

Above

Industry Average

Funded Over

9 Rounds

Notable Investors:
IPO funding comparison data is currently unavailable. We're working to provide this information soon!
IPO Funding Comparison
Coming Soon

Benefits

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

Headcount

6 month growth

↑ 0%

1 year growth

↑ 0%

2 year growth

↑ 0%
The FinRate
May 8th, 2025
Corpay and TPG Team Up to Take AvidXchange Private in $2.2B Deal

AvidXchange went public in 2021, but with declining share prices, the company began exploring a sale earlier this year.

Fintech News Armenia
May 7th, 2025
Corpay, TPG Acquire AvidXchange for $2.2B

Corpay, a corporate payments company, has announced a definitive agreement to acquire a minority stake in AvidXchange as part of a transaction to take the company private. This deal, in partnership with investment firm TPG, values AvidXchange at approximately $2.2 billion.

PYMNTS
Apr 4th, 2025
Fintech Ipo Index Plunges 11.7% Amid Broad-Based Market Rout

There was nowhere to run this week for investors seeking to escape a market rout that came on like a tidal wave, crashing down Thursday.   Tariffs, of course, dominated, and once they were real, as of Wednesday night, the stage was set for a plunge Thursday that’s not been seen in years. Investors fled [] The post FinTech IPO Index Plunges 11.7% Amid Broad-Based Market Rout appeared first on PYMNTS.com.

Financial Technology Insights
Apr 3rd, 2025
AvidXchange Launches AI Agents to Enhance Accounts Payable

AvidXchange launches AI agents to enhance accounts payable.

GlobeNewswire
Apr 2nd, 2025
AvidXchange Unveils New AI Agents to Elevate Accounts Payable Processes

Invoice Capture Enhancements: AvidXchange has expanded the AI capabilities within its Invoice Capture feature which makes it even easier for teams to move invoices through the approval process.

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AvidXchange is Hiring for 26 Jobs on Simplify!

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