CHARLOTTE, N.C., (Dec. 7, 2017) AvidXchange™ was recognized as one of the top fastest-growing companies during the Fast 50 Awards, hosted by the Charlotte Business Journal at the Hilton Charlotte Center City. The Fast 50 Awards honor independent and privately-held companies with revenues of $1 million or more, based in the 16-county Charlotte region. Through a formulated selection process, honorees are ranked by their total gross revenue growth over a three-year period, between 2014 and 2016. Experiencing a 129 percent revenue growth-rate and a 165 percent increase in its workforce during the timeframe, AvidXchange’s emerging development in the technology space placed the company at no. 24 on the list.
“To be recognized for a seventh consecutive year as the Fast 50 in the Charlotte region is one of the greatest honor AvidXchange could receive,” stated Michael Praeger, CEO and Co-Founder of AvidXchange. “The Charlotte region has been AvidXchange’s home base for more than 20 years. Growing alongside our community could not have been possible without the hardworking professionals who are dedicated to providing innovative and top-notch solutions to our customers across North America,” added Praeger.
AvidXchange continues to grow, with its workforce increasing by 37 percent in 2017 – expanding to more than 1,000 employees. In addition to being recognized in the Charlotte region, AvidXchange’s growth of 268 percent between 2013 to 2016 placed the company on Deloitte’s Technology Fast 500™ list for the fastest growing companies in North America.
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 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. 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].