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Company History

AvidXchange was founded in 2000, and we've been on an incredible journey ever since.

December, 2016
the neXt era of AvidXchange
December, 2016
the neXt era of AvidXchange
August, 2016
AvidXchange Breaks the 800 Employee Mark

CHARLOTTE, N.C., (August 31, 2016) – AvidXchange™ announced today that it has exceeded 800 employees. This is a major milestone for the Charlotte startup that was nearing the 80 employee mark at the end of 2011. The company has been on a fast trajectory with just over 300 employees at the beginning of 2015, and starting out 2016 with just over 500 employees. 2015 was a record year with more than a 60% growth in the employee base, but 2016 is set to outpace this with a 50% increase year-to-date alone.

January, 2016
AvidXchange Buys Naming Rights for
NC Music Factory & it Becomes
"AvidXchange Music Factory"
January, 2016
AvidXchange Buys Naming Rights for
NC Music Factory & it Becomes
"AvidXchange Music Factory"
September, 2015
AvidXchange Breaks Ground on New Campus
September, 2015
AvidXchange Receives $225 Million
in Funding Led by Bain Capital

Charlotte, N.C., (September 14, 2015) AvidXchange, a leading FinTech provider of Accounts Payable and Payment Automation, announced today that it has completed a $225 million minority growth financing led by Bain Capital Ventures, with contributions from Foundry Group, NYCA Partners, KeyBank, Square 1 Bank, and TPG Special Situations Partners. The company becomes a part of Bain Capital Ventures’ portfolio alongside companies such as LinkedIn, Staples and Vonage, as well as technology companies Experian, Billtrust and iPay Technologies.  The company’s long-term partner, Financial Technology Partners LP and FTP Securities LLC (“FT Partners”), served as exclusive financial and strategic advisor to AvidXchange in this transaction. AvidXchange intends to invest a significant amount of the funding to hire staff to support its rapid client growth, make select strategic acquisitions, and develop new product technologies to further serve its clients.

September, 2015
AvidXchange Receives $225 Million
in Funding Led by Bain Capital
May, 2015
Strongroom Becomes an AvidXchange Company

CHARLOTTE, N.C., (May 19, 2015) AvidXchange, leading provider of accounts payable and payment automation solutions for midsize companies, announced today the acquisition of Strongroom Solutions, further strengthening its position as the leading payment provider to the real estate market. Financial Technology Partners LP and FTP Securities LLC (“FT Partners”) served as exclusive financial and strategic advisor to AvidXchange in this transaction. With the majority of AvidXchange’s clients in the real estate space, the merger will provide these clients with a more comprehensive solution for Home Owner Associations (HOA), and will also optimize clients’ payment mix with expanded payment offering.

November, 2014
Piracle Becomes an AvidXchange Company

Charlotte, N.C. (November 20, 2014) – AvidXchange, Inc. (“AvidXchange”), a provider of accounts payable (AP) and payment automation solutions for businesses, announced today that it completed its acquisition of Piracle, Inc. (“Piracle”), a company that has offered payment management tools for more than 20 years to over 5,000 customers. AvidXchange’s mission is to revolutionize the way companies pay their bills, and Piracle will be an integral part of this mission moving forward.  Based in Salt Lake City, Utah, Piracle provides customers with self-service software tools to generate electronic payments and manage their paper check printing process. Piracle’s programs – combining payment software, supplies, and outsourced check printing facilities – are designed to work flawlessly with clients’ accounting systems to provide the utmost in security, simplicity, and cost efficiency.

November, 2014
Piracle Becomes an AvidXchange Company
February, 2012
Launched AvidPay

Charlotte, NC (February 21, 2012) – AvidXchange is thrilled to announce the expansion of their bill payment service for mid-market companies with the introduction of AvidPay.  AvidPay will complement AvidXchange’s current offerings, and enable the company to provide customers with an impressive combination of services and solutions that will facilitate the complete automation of businesses’ accounts payable and bill payment processes.

June, 2006
Held First User Conference

Since then, we’ve held a User Conference every year to stay connected with our customers and update them on all of the latest innovations that we’re working on for their products and services.

June, 2006
Held First User Conference
January, 2004
Started Bill Processing Network
June, 2003
AvidXchange Invoice Moved from Beta into Production
June, 2003
AvidXchange Invoice Moved from Beta into Production
October, 2000
Launched AvidBid in Times Square
April, 2000 Michael Praeger & David Miller Found AvidXchange
April, 2000 Michael Praeger & David Miller Found AvidXchange

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We're an epic team going on an awesome adventure together, and we're always looking for people to go on that journey with us.