Co-Founder, Chief Executive Officer
Michael Praeger is the Co-Founder and Chief Executive Officer of AvidXchange, Inc., the leading provider of on-demand accounts payables management and automated payment solutions. Since founding AvidXchange in 2000, Michael has been an active participant and speaker on "payables and payment automation" at various industry conferences and considered a thought leader within the industry in developing creative solutions and best practices for payables and payment automation.
Michael has spent the last 20 years founding, managing, merging and selling technology and web services-related companies. Prior to establishing AvidXchange, Michael was Co-Founder of PlanetResume.com, a technology career enhancement and recruiting site that successfully completed its merger with CareerShop.com and CareerTV.net in November 1999. Prior to that, he was Co-Founder and CEO of InfoLink Partners and InfoVentures, LP. Michael also served as an Associate with Summit Partners, a Boston-based Venture Capital and Buyout partnership with more than $1 billion under management. He received a B.S.B.A. in Finance from Georgetown University. Michael is also a graduate of the "Birthing of Giants" executive entrepreneurship program at MIT.
Michael is currently active in the Entrepreneurs Organization (EO), as well as the Young Presidents Organization (YPO). Michael is also currently serving on the advisory board of the North Carolina Technology Association (NCTA), and on Comdata's Customer Advisory Board. Michael is revered as a leading business-to-business provider of innovative electronic payment solutions.
SVP of Operations and Professional Services
Tim has spent 18 years in the technology arena, the first ten years of which were at Digital Equipment Corporation, which is now HP. There, he spent his first five years in operations, then after spending six months in a full time sales training program, he spent his second five years in sales selling solutions into Fortune 10 accounts, achieving top 5% performer status. After leaving Digital, Tim took a four year hiatus from technology in the mid-90's to run a family-owned beverage manufacturing company. He then returned to technology to join Market Velocity as COO, an ASP that sells market making software to technology companies. Tim was instrumental there in taking the company from pre-revenue to $10 million. He left there post merger after four years. He then founded a consulting company focused on executive search of sales talent in the technology arena, where AvidXchange was a client, and where since, he has joined to run internal operations and to manage the acquisition of talent. Tim holds a B.S.B.A from the University of New Hampshire and an MBA from Boston University.
SVP of Sales & Marketing
Tom Spencer has over 20 years experience leading teams and delivering for customers. Tom spent the last 15 years at Intuit in a variety of roles including VP of Sales, Marketing, and Customer Support. As VP of Sales Tom’s responsibilities included direct revenue growth for business products and services such as professional accounting and tax solutions, payroll, bill pay, and QuickBooks offerings. While at Intuit Tom also helped grow and develop the Intuit Professional Partner Network for accountants. Prior to joining AvidXchange Tom consulted in private industry with a variety of small and midsize companies on their sales and marketing capability to help create value for customers.
Co-Founder, Chief Technology Officer
Since joining AvidXchange in 2000, Chris has architected the core system infrastructure as well as building a team of highly-skilled software and system engineers. Chris previously served as the Director of Application Development for e-Netrics where he spent two years designing, developing and implementing enterprise level e-commerce applications. Chris has 12 years of experience in the information technology arena with an expertise in enterprise-level B2B e-commerce applications. He graduated Magna Cum Laude from the University of North Carolina at Charlotte with a B.S. in Computer Science. Chris also served five years in the military.
SVP of Human Capital and Talent Management
Todd has over 26 years of experience with both public and private companies of varying sizes and industries in nearly every aspect of human resources. Todd began his career with Owens Corning where he advanced to HR leadership positions at several manufacturing locations, as well as at the corporate level. After a decade of working with Owens Corning, Todd transitioned to the electronics industry as the HR Leader of Bose Corporation's Columbia, SC facility. After his time at Bose Corporation, he then joined Solectron Electronics as their North American Human Resources Leader. For the past 11 years, Todd held Senior HR positions at Bank of America, focusing on talent management, development, and organizational effectiveness. While at Bank of America, Todd was also a member of the senior leadership team for the Merrill Lynch acquisition. Todd holds a BSBA in Human Resources Management from The Ohio State University. His family resides in the Lake Norman area.
VP of Strategic Initiatives
Jay has over 20 years of sales, product management, project management, and consulting experience in the technology industry. Jay has been a leader at AvidXchange for nearly a decade in a variety of strategic roles across multiple teams, including Professional Services, Product Management, and, most recently, Strategic Initiatives. In the course of his time at AvidXchange, he created the company's first Product Management Department, and is currently spearheading the Strategic Initiatives Team focused on corporate development and high impact projects. Prior to joining AvidXchange in 2006, he founded a company that specialized in online channel development for companies adding the web as a sales channel. Jay also delivered software solutions for Market Velocity, a web-based rebate management platform used by major technology companies such as HP. Jay received his B.A. in Business Management from Luther College in Decorah, IA, completed Graduate courses at McColl School of Business, Queens University of Charlotte, NC and holds a Project Management Professional (PMP) certification from Project Management Institute.
Chief Financial Officer
Karen Bertaux joined AvidXchange in 2015 as the Chief Financial Officer. Prior to joining AvidXchange, Karen held a variety of senior finance positions in the technology industry, including CFO of AGDATA based in Charlotte, where she successfully led a recapitalization of the company in 2014. Prior to AGDATA, Karen was the CFO of Consonus Technologies, Inc., and CFO of Strategic Technologies, Inc., both based in Raleigh, NC. Karen is a CPA and received her BS in Accounting from Frostburg State University in Maryland.
Chief Legal Officer
Ross Agre joined AvidXchange in 2015 as the Chief Legal Officer. Prior to joining AvidXchange, Ross was the Chief Legal Officer of Mercury Payment Systems, a fast-growing US payments provider with gross revenues exceeding $1.2 Billion owned by Silver Lake Partners, where he also served as their acting General Counsel following Mercury’s acquisition by Vantiv. Ross received his law degree from Columbia University and his undergraduate degree from Dartmouth College.
SVP of Strategy and Product Offerings
For more than 20 years, Mike Bates has been a product management leader who delivers great customer experiences for the enterprise, small business, and consumer markets. Mike currently serves as the SVP of Strategy and Product Offerings for AvidXchange. Prior to joining Avidxchange, Mike was the product leader for the Intuit QuickBooks Desktop and Online payments division, where he delivered integrated payment solutions for consumers and small business. Before joining Intuit, Mike served as the product offering leader at MRI software, where he was responsible for the global commercial and residential portfolios. While at MRI, he focused on delivering end-to-end financial, tenant and residential management solutions within both the self-hosted and SaaS environments. Mike spent his early career with both Rockwell Automation and IBM delivering web-enabled and hosted solutions serving enterprise businesses. Mike's passion for winning extends outside the office as a competitive triathlete.
Chief Marketing Officer
Red Maxwell is a proven design and branding professional with over 20 years experience in the marketing field. Prior to founding OnRamp Branding, Red started the in-house advertising design department at Polo Ralph Lauren in New York then became a principal and creative head of Design Factory, an international design and marketing boutique. A three-time winner of the London International Advertising Awards, he has developed major brand introductions for Danone Foods, Foster's Brewing Company and RJR/ Planters LifeSavers. A pioneer of internet marketing, Red has launched online sites and promotions for Hanes, Duke Energy, Sara Lee Foods, Accenture and Yahoo! As Chief Marketing Officer for the SilkRoad Equity family of companies, which include InterAct Public Safety Systems, SilkRoad technology, SolidSpace, TrueLook and MissionMode, Red helped grow SilkRoad's HR SAAS business from $3million a year in revenue to $25 million in over 4 years. Maxwell was also instrumental in strategically positioning two of the portfolio companies for $20 million and $30 million Series A fundings. In 2008, he spoke at the AvidXchange User Conference on the "Evolution and Advantages of Working with SaaS Model Companies and has been involved with design and execution strategy for the AvidBill Network.
Chief Information Security Officer
Jim joined AvidXchange in April 2016 as Chief Information Security Officer (CISO). He has more than 30 years of IT experience, with the past 15 years being focused on information security, privacy, and risk management. Recent positions Jim has held include VP of Information Security at Vantiv, CISO for Mercury Payment Systems, Head of Security Solutions for retail banking at Barclays Bank, Global Head of Information Security for Amazon.com, and Chief Security Executive for Corillian (Internet banking and security solutions). Jim has current certifications as a Certified Information Systems Security Professional (CISSP), Certified Information Privacy Professional (CIPP/US and CIPP/E), Certified Information Security Manager (CISM), and Certified in the Governance of Enterprise IT (CGEIT). He holds a Master of Science in management from Stanford University, an MBA from City University, a Master of Science in engineering from Northwestern University, and a Bachelor of Science in system design from Marquette University. He is also a member of the FBI InfraGard program.
Chief Information Officer
Paul Cavnaugh joined Avidxchange in February 2016 as the Chief Information Officer. He has over 25 years of IT experience with the past 10 in key leadership roles sponsoring, running, and delivering Global IT solutions within Fortune 200 companies. Paul has provided guidance to CEOs and senior executive management in support of business strategy, growth, turnaround office initiatives, and IT transformation. Prior to joining Avidxchange, Paul served in various leadership positions including Global Chief Information Officer at Billabong, Senior Vice President at Velocity Solutions, and Senior Vice President at TITAN GS. He has experience in building and operating Global Shared Service Organizations, including hosting and managed services, Retail Supply Chain and Logistics, Business Process Outsourcing, and India Center of Excellence Operations. His experience building IaaS, PaaS, and SaaS cloud technology solutions on a global scale across industries aligns with Avidxchange’s growth and expansion footprint.
He holds a Bachelor of Science degree in Management Information Systems and Finance from the State University of New York, and a degree in Systems Analysis and Design from SUNY Millard Fillmore College. He is also a graduate of the elite Society for Information Management (SIM) Chicago Chapter for senior IT professionals, and is certified in Information Technology Infrastructure Library (ITIL) Service Management.