StageIPO | IPO
Date of IPO10/13/2021
AvidXchange (NASDAQ: AVDX) is an account payable (AP) and payment automation solutions provider. It automates invoice and payment processes for mid-market businesses. It was founded in 2000 and is based in Charlotte, North Carolina.
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AvidXchange's Products & Differentiators
AvidInvoice is a web-based, paperless invoice management system designed to automate the way companies manage their accounts payable (AP). AvidInvoice streamlines the entire invoice process while matching current approval workflows. Companies spend less time managing the AP process while maximizing electronic invoice receipt and capture.
Research containing AvidXchange
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned AvidXchange in 9 CB Insights research briefs, most recently on Oct 4, 2022.
Oct 4, 2022 reportThe Fintech 250: The most promising fintech companies of 2022
Oct 5, 2021 reportThe Fintech 250: The Top Fintech Companies Of 2021
Oct 5, 2021 reportThe Fintech 250: The top fintech companies of 2021
Mar 9, 2021The United States Of Fintech Startups
Expert Collections containing AvidXchange
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
AvidXchange is included in 7 Expert Collections, including Fintech 250.
Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.
Startups providing solutions to banks to automate processes and operations.
Tech IPO Pipeline
Latest AvidXchange News
Jun 2, 2023
AvidXchange Holdings, Inc. , a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, announced Lien Waiver Management for TimberScan, a premium feature embedded in AvidXchange’s full purchase-to-pay solution with a seamless Sage 300 CRE integration. With Lien Waiver Management, construction industry professionals are offered an improved payment process by associating the release of funds with the receipt and inspection of the lien waiver, ultimately reducing construction project delays. Lien Waiver Management supports all four lien waiver types including, Partial Conditional, Partial Unconditional, Final Conditional and Final Unconditional within the TimberScan platform. Lien Waiver Management provides more control and greater visibility over the lien waiver process than if executing related tasks manually with the ability to check status in real-time in the platform and bulk release payments based on that status. This tool helps improve supplier relationships by ensuring parties involved in a construction project receive payments more efficiently, accurately and securely than if executed using manual processes and paper checks. “Having a truly automated, integrated lien waiver tracking system that ties an invoice to a cash disbursement is immensely helpful in curbing laborious requirements for tracking and collecting payments,” said Allen Overturf , Chief Financial Officer of Welsh Construction. “Lien waivers are a simple yet critical piece in the payments process, and chasing paper trails can lead to challenges. AvidXchange’s Lien Waver Management gives us a solution that completes the full payment cycle without headache.” “Tracking and managing lien waivers is a notorious problem in the construction industry, as a lack of compliance in executing these documents often holds up future payments and requires a great deal of time and effort in chasing paper,” said Jim Campbell , Vice President of Construction at AvidXchange. “We’re excited to launch a solution that can help construction companies increase efficiency and automate manual steps in their lien waiver and payments workflows.”
AvidXchange Frequently Asked Questions (FAQ)
When was AvidXchange founded?
AvidXchange was founded in 2000.
Where is AvidXchange's headquarters?
AvidXchange's headquarters is located at 1210 AvidXchange Lane, Charlotte.
What is AvidXchange's latest funding round?
AvidXchange's latest funding round is IPO.
How much did AvidXchange raise?
AvidXchange raised a total of $1.16B.
Who are the investors of AvidXchange?
Investors of AvidXchange include Nyca Partners, Foundry, Bain Capital Ventures, QED Investors, Pivot Investment Partners and 18 more.
Who are AvidXchange's competitors?
Competitors of AvidXchange include Tipalti, Billtrust, Vic.ai, Cherry , Finexio, Fintainium, OnPay Solutions, MineralTree, Canopy Tax, Invoice2go and 15 more.
What products does AvidXchange offer?
AvidXchange's products include AvidInvoice and 3 more.
Who are AvidXchange's customers?
Customers of AvidXchange include Pinellas County Housing Authority, Trellis Fifth Avenue and Bridge Community Health Clinic.
Compare AvidXchange to Competitors
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