What is AvidXchange?
AvidXchange specializes in delivering a comprehensive software-as-a-service platform designed to digitize and automate accounts payable workflows for middle-market businesses and their suppliers. Serving over 8,800 businesses and facilitating payments to more than 965,000 supplier customers over the past five years, AvidXchange has established itself as a leader in AP automation. The company's end-to-end solution streamlines payment processes, enhancing efficiency and transparency for its clients. Based in Charlotte, North Carolina, AvidXchange's technology is crucial for businesses seeking to modernize their financial operations.
How much funding has AvidXchange raised?
AvidXchange has raised a total of $1.8B across 16 funding rounds:
Private Equity
$10M
Private Equity
$129.5M
Private Equity
$225M
Multiple Rounds
$28M
Private Equity
$300M
Private Equity
$2.5M
Series F
$260M
Other Financing Round
$127M
Stock Offering
$660M
Debt
$65M
Private Equity (2014): $10M backed by Boathouse Capital
Private Equity (2015): $129.5M with participation from Foundry Group and Bain Capital Ventures
Private Equity (2015): $225M led by Foundry Group, Square 1 Bank, KeyBank, Nyca Partners, and Bain Capital Ventures
Private Equity (2016): $10M, investors not publicly disclosed
Private Equity (2016): $3.5M, investors not publicly disclosed
Series E (2016): $14.5M backed by Pivot Investment Partners and Fifth Third Bank
Private Equity (2017): $300M with participation from Temasek, Caisse de du00e9pu00f4t et placement du Quu00e9bec, and Mastercard
Private Equity (2017): $2.5M, investors not publicly disclosed
Series F (2020): $260M supported by Sixth Street Partners
Other Financing Round (2020): $127M, investors not publicly disclosed
Stock Issuance/Offering (2021): $660M, investors not publicly disclosed
Debt (2023): $65M with participation from KeyBank National
Key Investors in AvidXchange
Sixth Street Partners
Sixth Street Partners is a global investment firm providing flexible, long-term capital and innovative solutions to companies across diverse sectors including software and financial technology. They are known for their data-enabled capabilities and cross-platform collaboration to build businesses and create unique investment structures.
Bain Capital Ventures
Bain Capital Ventures is a leading private investment firm with a global platform that invests across private equity, growth & venture, and capital solutions. They focus on driving innovation in investment strategies and unlocking opportunities to create exceptional outcomes for portfolio companies.
Temasek
Temasek is a global investment company headquartered in Singapore, operating as a generational investor focused on making a difference with tomorrow in mind. They invest across a broad spectrum of industries and geographies.
What's next for AvidXchange?
With substantial enterprise-level backing and a recent strategic investment, AvidXchange is well-positioned for its next phase of growth. The company's focus on AP automation and payment solutions aligns with the increasing demand for digital transformation in financial operations. Future strategic moves are likely to involve expanding its service offerings, enhancing its technology platform, and potentially increasing its market reach through strategic partnerships or acquisitions. The consistent flow of capital indicates strong investor confidence in AvidXchange's business model and its capacity to capture a larger share of the AP automation market.
See full AvidXchange company page
