AvidXchange

AvidXchange

Automates accounts payable and payment processing

Overview

AvidXchange provides a SaaS platform that automates accounts payable and vendor payments. It includes invoice management, bill payment, purchase order, and check printing to digitize and speed payment workflows. Clients subscribe and may pay transaction fees; the system digitizes invoices, automates approvals, sends e-payments, and can print checks, cutting processing time from about 10 days to 3. It differentiates by offering a comprehensive cloud-based suite across many industries with a focus on speed, security, and cash-flow improvement; goal is to simplify and accelerate financial operations, reduce manual tasks, and lower costs.

About AvidXchange

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

Industries

Enterprise Software

Fintech

Financial Services

Company Size

1,001-5,000

Company Stage

IPO

Headquarters

Charlotte, North Carolina

Founded

2000

Simplify Jobs

Simplify's Take

What believers are saying

  • Embedded payments inside legal, property, and church software deepen distribution.
  • AvidXchange processes payments in as little as 24 hours, reducing AP workload dramatically.
  • Private ownership can accelerate product packaging around higher-velocity supplier payment workflows.

What critics are saying

  • Corpay's payments economics will prioritize rails over AP innovation within 12 months.
  • Vertical platform partners can own workflow and squeeze AvidXchange into commodity infrastructure.
  • Private-equity ownership increases pressure for repricing, bundling, and product rationalization after close.

What makes AvidXchange unique

  • AvidXchange embeds AP automation inside vertical software like Centerbase and AppFolio.
  • Its network reaches over 1.5 million suppliers, accelerating vendor payment adoption.
  • TPG and Corpay acquired AvidXchange in October 2025 for about $2.2 billion.

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Funding

Total Funding

$1.7B

Above

Industry Average

Funded Over

16 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

Stock Price

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

1%

2 year growth

2%
WorkCompWire
Mar 18th, 2026
ISG names Angelic Gibson Chief Product and Technology Officer.

ISG names Angelic Gibson Chief Product and Technology Officer. March 18, 2026 - WorkCompWire Danvers, MA - Insight Service Group (ISG) recently announced the appointment of Angelic Gibson as Chief Product and Technology Officer. Gibson will report to Chief Executive Officer Bob Reardon and will be responsible for the technology and product capabilities that help ISG's clients resolve claims more efficiently, with better data and clearer accountability at every stage of the process. "Angelic has the technical credibility and the commercial instincts to drive what's next for our platform," said Reardon. "She has built and scaled complex technology organizations, and she understands how product decisions translate to business outcomes. That combination is exactly what ISG needs as we deepen the technology layer across our integrated services." Gibson joins ISG from AvidXchange, where she served as Chief Information Officer. During her tenure, she led the company's accounts payable and payment automation platform through significant growth overseeing enterprise technology, product engineering, data, cybersecurity, and AI strategy as the company scaled from approximately $150 million to over $450 million in revenue. She drove the company's transition to cloud infrastructure and aligned technology investment to support expanding margins and long-term growth. Prior to AvidXchange, Gibson held senior technology leadership roles at TKXS, American Tire Distributors, Stony Brook University, and The Estée Lauder Companies. She has been recognized as an ORBIE CIO of the Year Award winner, a multi-year finalist for that honor, and a Forbes NEXT CIO. In her new role, Gibson will focus on advancing the technology that connects ISG's services into a more seamless experience, reducing friction across the claim lifecycle, improving the speed and quality of information available to clients, and ensuring ISG's platform keeps pace with the evolving needs of the insurance market. She will also oversee internal enterprise systems and infrastructure. "ISG has built something that is difficult to replicate," said Gibson. "Connecting medical management, investigations, clinical services, and record management within a single technology-enabled platform gives our clients, across carriers, law firms, and other organizations, what they've been asking for: one partner, consistent data and a clear line of accountability. I'm focused on strengthening that foundation and bringing new capabilities to market that make a measurable difference for all of our clients." Trusted by 46 of the top 50 U.S. carriers, ISG has established its market position by integrating claim services that were historically managed across multiple vendors, giving clients consistent data, reporting, and compliance standards under a single partner. Gibson holds a Bachelor of Science in Management Information Systems. Disclosure: ISG has advertised with WorkCompWire. This is NOT a paid placement.

The Associated Press
Mar 3rd, 2026
AvidXchange launches embedded payment automation for AppFolio's 1.3M supplier network

AvidXchange, a provider of accounts payable automation software, has launched its Accounts Payable as a Service solution for AppFolio customers through the AppFolio Stack Marketplace. The integration enables property management teams to execute supplier payments directly within the AppFolio Performance Platform. The embedded solution leverages AvidXchange's AI-enhanced software and network of 1.3 million suppliers to automate payment processes. AppFolio customers can enrol through the marketplace and begin making payments within minutes. Founded to address AP challenges in real estate, AvidXchange serves over 8,500 mid-market businesses and has processed payments to more than 1.3 million suppliers over the past five years. The company is a licensed money transmitter in the United States, including New York State.

GlobeNewswire
Oct 15th, 2025
AvidXchange Acquired for $2.2 Billion

TPG and Corpay have completed the acquisition of AvidXchange for $10 per share, valuing the company at approximately $2.2 billion. AvidXchange will now operate as a private company. CEO Mike Praeger expressed excitement about the partnership, which aims to accelerate innovation and expand the company's AP automation solutions. TPG and Corpay's support is expected to enhance AvidXchange's platform and growth potential.

The Business Journals
Sep 17th, 2025
AvidXchange Approves $2.2B Merger

AvidXchange shareholders have approved a merger valued at $2.2 billion.

The Tech Outlook
Aug 7th, 2025
AvidXchange and Ministry Brands Announce Exclusive Partnership

AvidXchange's automation technology will integrate seamlessly into Ministry Brands' suite of financial and digital tools to simplify payment processes for their network of over 90,000 churches and nonprofit organizations.

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