Company News

This week more than 25,000 individuals focused on software development, security, architecture, and IT gathered at Microsoft Ignite in Orlando, Fla. to explore new hands-on experiences in security, cloud, and hybrid infrastructure and development.

AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the middle market, today announced it has raised $260 million in equity capital as part of the company’s latest financing round. With contributions from TPG Sixth Street Partners and other leading investors, this brings total funding to more than $800 million over the company’s 20-year history.

Inc. magazine released its annual list of the 5,000 fastest-growing privately held companies in the U.S., and AvidXchange made the list for the seventh time. Based on revenue numbers in 2015 compared to 2018, AvidXchange saw a growth rate of 179% landing in the 2,243 spot.

With a focus on hiring top talent, AvidXchange made it a priority to be part of the world’s largest women in tech conference, Grace Hopper Celebration. More than 25,000 attendees gathered in Orlando for a week of networking, job searching and professional skills development.

For the fourth consecutive year, AvidXchange has been named to the Forbes 2019 Cloud 100, the definitive list of the top 100 private companies in cloud computing.

Rob Phocas has joined the AvidXchange family as the new Director of Corporate Social Responsibility (CSR). Phocas brings with him a robust background in sustainability and environmental law, including 10 years with the city of Charlotte as the Director of Sustainability, and a passion for giving back to the communities in which he works and lives.