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AvidXchange Ranks Among Fastest Growing Companies in North America on Deloitte’s 2019 Technology Fast 500™ for the 6th Consecutive Year

Laura Pitts

For the sixth year in a row, AvidXchange had ranked among the fastest growing companies in North America on Deloitte’s Technology Fast 500™. In it’s 25th year, this ranking included the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America based on percentage fiscal year revenue growth from 2015 to 2018.

Deloitte Fast 500 Companies

“AvidXchange’s year-over-year growth is a testament to the value that we bring to our middle market customers,” said Michael Praeger, CEO and Co-Founder of AvidXchange. “From our startup roots to now nearly 20 years of history, we’ve continued to invest in product innovation and customer experience – two tenets that will always be the focus of our business, no matter the growth to come.”

“This year marks the 25th anniversary of Deloitte’s Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “Once again, we saw innovation across the board, with software companies continuing their dominance of the top ten. It’s always inspiring to see how the Fast 500 companies are transforming business and the world we live and work in.”

“As technology innovation trends towards ‘everything as a service,’ it’s no surprise that software companies dominate the winners list yet again this year,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “What’s exciting about celebrating 25 years of the Tech Fast 500 is we now have a quarter century of innovation stories to draw and reflect upon. These are the companies that push boundaries, help organizations become more efficient and productive, and ultimately enable businesses to drive growth and revenue. We congratulate all the well-deserving winners.”

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.

AvidXchange previously ranked 347th as a Technology Fast 500™ award winner for 2018. A full list of the 2019 rankings can be found at www.fast500.com.

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Laura Pitts

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