AvidXchange recognized as one of the world’s leading private, cloud-based companies
CHARLOTTE, N.C. (Sept. 11, 2019) – AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the middle market, has been named to the Forbes 2019 Cloud 100, the definitive list of the top 100 private companies in cloud computing, for the fourth consecutive year.
“We’ve experienced first-hand the evolution of cloud computing over the last 20 years, from its start as an emerging technology to become the foundation for how we deliver innovative solutions to customers,” said Michael Praeger, Co-Founder and CEO of AvidXchange. “It’s an honor to be recognized as an industry leader among some of the best cloud-based technology companies in the world – a designation that reminds me just how far we’ve come.”
Published by Forbes magazine in collaboration with Bessemer Venture Partners and Salesforce Ventures, the Cloud 100 recognizes top-tier private companies around the world that are changing the way businesses work across a multitude of industries with cloud-based technology.
Companies are selected based on four factors including estimated valuation, revenue & growth rate, people & culture, and market leadership. The Cloud 100 judging panel, comprised of public cloud CEOs, review the data, score, select and rank companies to determine the final list.
The complete Cloud 100 list is published online at www.forbes.com/cloud100 and will appear in the September issues of Forbes magazine.
AvidXchange is the industry leader in automating invoice and payment processes for mid-market businesses. Founded in the year 2000, AvidXchange processed 9.5 million payments last year across its network of more than 500,000 suppliers, transforming the way 5,500 customers in North America pay their bills. AvidXchange is distinguished as a global fintech unicorn and one of the fastest growing technology companies in the U.S. with 1,300 employees in seven office locations. For more information, visit www.AvidXchange.com.