CHARLOTTE, N.C., (November 30, 2017) – AvidXchange™, leading cloud based software provider of Accounts Payable and Payment Automation for midsize companies, today announced its site selection for its expanded operations in Sandy, Utah. AvidXchange’s new office will be located in Sandy Towers, a new 150,000 square foot office building located at the Trax Station off of State Street and Sego Lily Drive in Sandy. The company received a tax incentive from the state of Utah in September of this year. As part of the incentive agreement, AvidXchange will create over 200 new jobs over the next five years. The new office is designed to accommodate this growth.
AvidXchange selected Utah for expansion, because of its rich talent pool and vibrant tech community. AvidXchange acquired Utah-based Piracle Inc. in 2015 and has maintained employees in the state since. Employees currently working in the office located at 6415 South 3000 East in Salt Lake City will be making the move to the new building when it’s completed this spring. AvidXchange is based in Charlotte, North Carolina and opened its corporate campus this summer in the up and coming North End Corridor of the city. It was important to the company to locate an area of Utah that had many of the same qualities and access to transportation, restaurants, and entertainment for employees. Sandy, and the Salt Lake City region, possessed all of these qualities, and AvidXchange is pleased to be a part of the growth and expansion of this area.
“AvidXchange is thrilled to expand our operations in Utah, and feel that Sandy is an ideal location for the home of our expanded operations. Sandy is a great metropolitan region with a lot of energy and focus on economic development, which is the perfect match for AvidXchange,” commented Michael Praeger, CEO and co-founder of AvidXchange. “We believe that our site selection will be a competitive advantage for us in hiring the best talent in the area with convenient access to public transportation and many restaurants and attractions within walking distance to help with the work/life balance that we strive for at AvidXchange. We’re looking forward to finding the best and the brightest in Utah to add to our team,” added Praeger.
A core design principle for the new building will be collaboration. This is highly important for the fast-growing company that thrives on impromptu meetings with open areas for discussion and brainstorming. AvidXchange will be working with the team at STACK Real Estate to bring its new location to life. Features of the new office include the following: 24/7 gym, private meeting rooms, gaming areas, and a café. These amenities are consistent with the corporate headquarters in Charlotte, NC.
“We strive to build the best real estate, for the best companies, in the best locations. We’re looking forward to working on this project with AvidXchange to help build an “out of the box” experience for their employees in Sandy. It’s a great location, and when we saw the type of amenities and efficiencies that AvidXchange was looking for in their new headquarters, we knew that this was going to be a great match,” Andrew Bybee, Owner of STACK Real Estate.
AvidXchange™ revolutionizes the way companies pay their bills. Serving more than 5,700 clients throughout North America, AvidXchange is an industry leader in automating the “Purchase-to-Pay” processes for midmarket companies spanning multiple industries including Real Estate, Financial Services, Energy, Healthcare, Education and Construction. AvidXchange has been recognized as one of the 50 fastest-growing private companies in the Charlotte area for six consecutive years, ranked among Deloitte’s Fast 500 this past year, and recently was named of the top 100 technology companies in North America by Red Herring. For more information, contact us at 800.560.9305 or info@avidXchange.com.