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Newsroom   /   Press Release

AvidXchange Hosts Ceremony for $35 Million Utah Expansion with Sandy Mayor

June 27, 2018

SANDY, UTAH (June 27, 2018) – AvidXchange™, a leading fintech provider of accounts payable (AP) and payment automation solutions for midsize companies, today celebrated the opening of its new operations center in Sandy, Utah, alongside Mayor Kurt Bradburn and John Knotwell, State Representative and President & CEO of the Utah Technology Council. In addition to the $35 million investment, the company discussed its plans to add up to 218 jobs in the area over the next five years, as part of its western expansion plan. These strategic investments support the company’s dynamic and ongoing growth, including its many fintech partnerships, like the one it has with Mastercard.

“The opening of our new space helps usher us into the next era of AvidXchange,” stated Michael Praeger, CEO and Co-Founder of AvidXchange. “By having Utah as our second headquarters, we can foster true business continuity, enjoy a space that will accommodate our expansion and that reflects our company culture. With Sandy being home to so many parks and trails within walking or easy bike-ride distance of our new office, along with venues such as Sandy Amphitheater and Mountain America Credit Union Exposition Center, it already exudes the active lifestyle and entertainment vibe that meshes perfectly with the culture we have cultivated on the East Coast.”

Sandy Building Design & Features

The 30,000-square feet space was built to be a collaborative space that would project a Main street feel, support the revolutionary ethos of the company, and be flexible in its use now and in the future. Because collaboration is highly important for the fast-growing company that thrives on impromptu meetings with open areas for discussion and brainstorming, it incorporates high-tech work spaces and conference rooms adorned with the latest technology from Cisco (e.g., Spark Boards).

Promoting wellness, a healthy work/life balance, and living up to its core value — “Have a Blast!” – the company is also proud to offer state-of-the-art amenities, including the following:

  • Gym/Yoga Area/Shower Rooms
  • Gaming Area
  • Patios
  • Break Room & Vending Area
  • Sit/stand Desks
  • Wellness/Nursing Mother Rooms
  • Environmental Sustainability Features (e.g., partially recycled building materials, motion-sensor faucets, LED lighting, etc.)

AvidXchange worked closely with Red Rock Developments, LS3P, Brasfield and Gorrie, and JLL to bring its Utah campus to life.

About AvidXchange™

AvidXchange™ revolutionizes the way companies pay their bills.  Serving more than 5,500 clients throughout North America, AvidXchange is an industry leader in automating invoice and payment processes for midmarket companies spanning multiple industries including Real Estate, Financial Services, Energy, and Construction.  AvidXchange has been recognized as the top software company in North Carolina by the North Carolina Technology Association, 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 was recently named the top 100 technology companies in North America by Red Herring.  In the midst of record growth, AvidXchange has remained true to its most valued competitive advantage—its people.  AvidXchange has been recognized as one of the Best Places to Work in Charlotte for eight consecutive years.  For more information, contact us at 800.560.9305 or [email protected].


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