Fundraising Fox
AvidXchange, Inc.
Charlotte, US · Founded 2000 · Delaware corporation · 1,672 employees on LinkedIn · 9 known investors
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AvidXchange provides AI-powered accounts payable software that automates invoice capture, approvals, and payments for mid-market businesses. The platform helps finance teams reduce manual work and improve payment performance across the entire AP lifecycle.
Founders & leadership
AvidXchange, Inc. was founded in 2000 by Michael Praeger.
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Michael PraegerChief Executive Officer and Co-FounderMichael Praeger is CEO and co-founder of AvidXchange, an AI-powered accounts payable software platform for mid-market businesses that automates invoice processing and payments. He founded the company over 20 years ago after identifying the lack of suitable enterprise automation solutions for accounts payable workflows.
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Dan DreesPresidentDan Drees is President of AvidXchange, which provides AI-powered accounts payable software for mid-market businesses. He has background in financial services and software.
KB
Karen BertauxExecutive
RA
Ross AgreChief Legal and Risk Officer and Secretary2015–2017Ross Agre is Chief Legal Officer at AvidXchange, bringing experience as a transactional and commercial lawyer at top-tier law firms and in-house roles, including advising on IPOs, M&A transactions, and corporate governance matters.
SS
Stephen Shane TurleyExecutive
JC
Jaysen C. PluegerExecutive
TE
Timothy E. JohnsonExecutive
WT
William Thomas SpencerExecutive
CS
Christopher S. TinsleyExecutive
Board
MH
Matt HarrisBoard director
BF
Brad FeldBoard director
RM
Red MaxwellBoard director
Investors · 9
Bain Capital Ventureslisted by Bain Capital VenturesBoston · $1M – $100M
How we know: baincapitalventures.com · Not right? Tell us
Boathouse Capitallisted by Boathouse CapitalBerwyn · $5M – $50M
How we know: Boathouse Capital's portfolio page · Not right? Tell us
Foundrylisted by FoundryBoulder · $250K – $15M
How we know: Foundry's portfolio page · Not right? Tell us
Nyca Partnerslisted by Nyca PartnersNew York · $1M – $10M
How we know: Nyca Partners's portfolio page · Not right? Tell us
QED Investorslisted by QED InvestorsAlexandria · $30K – $25M
How we know: QED Investors's portfolio page · the VCSheet dataset · Not right? Tell us
Reported raises · per SEC filings
Form D private placements$1.1B disclosed across 16 rounds · 2014–2020
▶$5MraisedJan 2021 · 1 investors · Business ServicesRule 506(b)
▶$5MraisedJan 2021 · 1 investors · Business Services
Rule 506(b)Officers, directors & promoters on the filing
- Wendy MurdockDirector
- Michael PraegerExecutive Officer, Director
- Brad FeldDirector
- Hans MorrisDirector
- Jim HausmanDirector
- Ryan StahlExecutive Officer
- Joel WilhiteExecutive Officer
- James AndersonDirector
- "Robert ""Bo""" StanleyDirector
- Matt HarrisDirector
- Nigel MorrisDirector
- Steven McLaughlinDirector
- Offering amount
- $5M
- Amount sold
- $5M
- First sale
- Dec 2020
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$988.1KraisedNov 2020 · 12 investors · Business ServicesRule 506(b)
▶$988.1KraisedNov 2020 · 12 investors · Business Services
Rule 506(b)Officers, directors & promoters on the filing
- Nigel MorrisDirector
- Wendy MurdockDirector
- Matt HarrisDirector
- Jim HausmanDirector
- Hans MorrisDirector
- Brad FeldDirector
- Michael PraegerExecutive Officer, Director
- "Robert ""Bo""" StanleyDirector
- James AndersonDirector
- Joel WilhiteExecutive Officer
- Ryan StahlExecutive Officer
- Steven McLaughlinDirector
- Offering amount
- $988.1K
- Amount sold
- $988.1K
- First sale
- Oct 2020
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$66MraisedSep 2020 · 5 investors · Business ServicesRule 506(b)
▶$66MraisedSep 2020 · 5 investors · Business Services
Rule 506(b)Officers, directors & promoters on the filing
- Matt HarrisDirector
- Steven McLaughlinDirector
- Michael PraegerExecutive Officer, Director
- Jim HausmanDirector
- Hans MorrisDirector
- Brad FeldDirector
- Ryan StahlExecutive Officer
- "Robert ""Bo""" StanleyDirector
- Joel WilhiteExecutive Officer
- Wendy MurdockDirector
- Nigel MorrisDirector
- James AndersonDirector
- Offering amount
- $66M
- Amount sold
- $66M
- Sales commissions
- $4M
- Proceeds to insiders
- $4M
- Placement agents
- FTP Securities LLC
- First sale
- Sep 2020
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$118.9MraisedAug 2020 · 14 investors · Business ServicesRule 506(b)
▶$118.9MraisedAug 2020 · 14 investors · Business Services
Rule 506(b)Officers, directors & promoters on the filing
- Joel WilhiteExecutive Officer
- Wendy MurdockDirector
- Ryan StahlExecutive Officer
- Steven McLaughlinDirector
- Brad FeldDirector
- Nigel MorrisDirector
- Michael PraegerExecutive Officer, Director
- James AndersonDirector
- Matt HarrisDirector
- Jim HausmanDirector
- "Robert ""Bo""" StanleyDirector
- Hans MorrisDirector
- Offering amount
- $118.9M
- Amount sold
- $118.9M
- Sales commissions
- $7.1M
- Proceeds to insiders
- $7.1M
- Placement agents
- FTP Securities LLC
- First sale
- Jul 2020
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$8MraisedJun 2020 · 2 investors · Business ServicesRule 506(b)
▶$8MraisedJun 2020 · 2 investors · Business Services
Rule 506(b)Officers, directors & promoters on the filing
- "Robert ""Bo""" StanleyDirector
- James AndersonDirector
- Wendy MurdockDirector
- Joel WilhiteExecutive Officer
- Nigel MorrisDirector
- Michael PraegerExecutive Officer, Director
- Hans MorrisDirector
- Brad FeldDirector
- Jim HausmanDirector
- Matt HarrisDirector
- Steven McLaughlinDirector
- Ryan StahlExecutive Officer
- Offering amount
- $8M
- Amount sold
- $8M
- Sales commissions
- $480.8K
- Proceeds to insiders
- $480.8K
- Placement agents
- FTP Securities LLC
- First sale
- May 2020
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$127.5MraisedApr 2020 · 52 investors · Business ServicesRule 506(b)
▶$127.5MraisedApr 2020 · 52 investors · Business Services
Rule 506(b)Officers, directors & promoters on the filing
- Matt HarrisDirector
- "Robert ""Bo""" StanleyDirector
- Michael PraegerExecutive Officer, Director
- Ryan StahlExecutive Officer
- Wendy MurdockDirector
- Joel WilhiteExecutive Officer
- Steven McLaughlinDirector
- Hans MorrisDirector
- Brad FeldDirector
- James AndersonDirector
- Jim HausmanDirector
- Nigel MorrisDirector
- Offering amount
- $127.5M
- Amount sold
- $127.5M
- Sales commissions
- $7.7M
- Proceeds to insiders
- $7.7M
- Placement agents
- FTP Securities LLC
- First sale
- Apr 2020
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$130MraisedJan 2020 · 2 investors · Business ServicesRule 506(b)
▶$130MraisedJan 2020 · 2 investors · Business Services
Rule 506(b)Officers, directors & promoters on the filing
- Steven McLaughlinDirector
- Joel WilhiteExecutive Officer
- Ryan StahlExecutive Officer
- "Robert ""Bo""" StanleyDirector
- Richard CrumDirector
- Nigel MorrisDirector
- Brad FeldDirector
- Hans MorrisDirector
- Jim HausmanDirector
- Matt HarrisDirector
- Wendy MurdockDirector
- Michael PraegerExecutive Officer, Director
- Offering amount
- $130M
- Amount sold
- $130M
- Sales commissions
- $7.8M
- Proceeds to insiders
- $7.8M
- Placement agents
- FTP Securities LLC
- First sale
- Dec 2019
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$20MraisedOct 2019 · 9 investors · Business ServicesRule 506(b)
▶$20MraisedOct 2019 · 9 investors · Business Services
Rule 506(b)Officers, directors & promoters on the filing
- Steve BoehmExecutive Officer
- Steven McLaughlinDirector
- Matt HarrisDirector
- Wendy MurdockDirector
- Nigel MorrisDirector
- Joel WilhiteExecutive Officer
- Ryan StahlExecutive Officer
- "Robert ""Bo""" StanleyDirector
- Michael PraegerExecutive Officer, Director
- Brad FeldDirector
- Hans MorrisDirector
- Jim HausmanDirector
- Offering amount
- $20M
- Amount sold
- $20M
- First sale
- Oct 2019
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Related companies · 10
Bill.com Holdings, Inc.BILL is a unified financial operations platform that automates accounts payable, receivables, and spend management for businesses. The platform processes over $345 billion in annual payment volume and serves nearly 500,000 customers across the US and 130+ countries.
TipaltiTipalti is an AI-powered finance automation platform that automates accounts payable, mass payments, procurement, and employee expenses for growing companies. The platform serves businesses seeking to streamline financial operations and reduce manual finance tasks.
StripeStripe provides financial infrastructure for businesses to accept payments, offer financial services, and implement custom revenue models across international markets in 135+ currencies.
WiseWise is a financial platform offering international money transfers, multi-currency accounts, and debit cards with low fees and competitive exchange rates, serving millions of users globally.
RampRamp offers a finance platform that combines corporate cards, expense management, and AI-driven automation for receipt capture, transaction coding, and reimbursements. It serves finance teams and businesses looking to consolidate spending tools and automate accounting workflows.
GoCardlessGoCardless provides bank payment collection and open banking data access services. The platform enables businesses to collect domestic and international payments via bank accounts and securely access customer bank account data across 2,300+ banks in the UK and Europe.
HighradiusHighRadius provides software for order-to-cash and treasury finance operations, including credit, collections, deductions, cash application, and invoicing and payments automation. It serves large enterprises and Fortune 1000 companies looking to improve financial performance metrics such as Days Sales Outstanding.
IntuitIntuit develops financial software products—including TurboTax, Credit Karma, QuickBooks, and Mailchimp—for consumers and small businesses to manage taxes, credit, accounting, and marketing. It serves approximately 100 million customers worldwide.
AirwallexAirwallex operates a global banking platform that provides cross-border payments, financial infrastructure, and AI-powered financial software for businesses. The platform serves companies across 200+ countries, enabling automated financial operations, expense management, and billing for global enterprises and AI-native businesses.
JetloreJetlore was a Palo Alto AI startup that turned unstructured retail product data into structured attributes so merchants could personalise what each shopper saw. Founded by Stanford researchers, it raised from Sierra Ventures, Alsop Louie Partners, Fenox Venture Capital, BRM Capital and Mercury Fund, and PayPal acquired it in 2018.
Companies working in the same space as AvidXchange, Inc..
Acquisitions · 1
Early investors' stakes continue via these dealsFastpay
Prior investment, acquired by AvidXchange
In the news
Frequently asked questions
- What does AvidXchange, Inc. do?
- AvidXchange provides AI-powered accounts payable software that automates invoice capture, approvals, and payments for mid-market businesses. The platform helps finance teams reduce manual work and improve payment performance across the entire AP lifecycle.
- Who founded AvidXchange, Inc.?
- AvidXchange, Inc. was founded by Michael Praeger in 2000.
- Who are AvidXchange, Inc.'s investors?
- AvidXchange, Inc.'s investors include Bain Capital Ventures, Boathouse Capital, Foundry, Haymaker Ventures, Nyca, Nyca Partners, QED Investors, Sapphire Ventures and 1 more.
- How much funding has AvidXchange, Inc. raised?
- AvidXchange, Inc. has disclosed $1.1B raised across 16 rounds.
- Where is AvidXchange, Inc. headquartered?
- AvidXchange, Inc. is headquartered in Charlotte, US.