Company History

AvidXchange History

February 2000
Mike Praeger and David Miller met for coffee at a Starbucks inside the Barnes & Nobles. They shared war stories and eventually came to realize that they both thought there was "big opportunity" providing marketplace services to the Real Estate industry.

They assembled a team, raised a little capital, and got started building a business.

Two years later, at Anderson's Restaurant (sadly, it's since closed), they met again to discuss the future. There was still big opportunity, but customer's didn't seem all that interested, the markets had cooled off dramatically, and it was slow going and tough sledding.

Then, in June 2002, something wonderful happened.
On a sales call at Branch Properties in Atlanta, Richard Ross told us he had no interest in our purchasing product. It's always tough to hear something like that. However, he said, he loved our invoice presentment module and would buy it if we would sell just that.

Especially in those days, any sale was hard to come by, so we studied that idea carefully during the long drive back to Charlotte, or at least as carefully as you can study any idea riding at 90 mph with take-out in one hand and a cell phone in the other.

By the time we got home, we agreed to Richard's idea, and AvidInvoice was born.

AvidXchange started growing rapidly.
Prospects seemed interested in our new product and we had some early success selling it. That success continued, uninterrupted, and we now find ourselves the leader provider of invoice management solutions within Real Estate, and one of the largest in any market.

We don't expect to slow down anytime soon.