AvidXchange is named on Forbes “Cloud 100” list for the sixth year in a row, every year since the award was created. AvidXchange is ranked #78 in the list of 100 companies, all of which fit this year’s theme, “big numbers.”
The annual Cloud 100 ranking of the world’s top private cloud companies, produced in partnership with Bessemer Venture Partners and Salesforce Ventures, recognizes standouts in tech’s hottest category from small startups to private-equity-backed giants. The companies on the list are selected for growth, sales, valuation, and culture plus a reputation score derived in consultation with 34 CEO judges and executives from their public-cloud-company peers.
Founded in the year 2000 by CEO Michael Praeger, AvidXchange is the leading provider of accounts payable (AP) and payment automation solutions for the middle market today and is transforming the way businesses pay their bills. AvidXchange offers in-depth industry expertise for real estate, HOA, construction, financial services, healthcare facilities, social services, education and media paired with one of the largest networks of suppliers for the middle market. With over 1,500 employees supporting 7,000+ customers across North America, AvidXchange processed approximately 53 million transactions with over $145 billion in spend under management in 2020 and has paid more than 700,000 suppliers through its network over the last five years.