AP Automation Vendor AvidXchange Closes $225 Million Minority Growth Financing

AvidXchange, a financial technology provider of accounts payable and payment automation, announced that it has completed a $225 million minority growth financing led by Bain Capital Ventures. 

Based in Charlotte, North Carolina, AvidXchange employees 326 people and last year reported revenue of $27.9 million. The company offers integrations with Dynamics AX, GP, NAV, and SL, along with many other accounting and ERP packages.

AvidXchange plans to invest a significant amount of the funding to hire staff to support its rapid client growth, make certain acquisitions, and develop new products to better serve its customers, according to company officials.


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About Linda Rosencrance

Linda Rosencrance is a freelance writer/editor in the Boston area. Rosencrance has over 25 years experience as an reporter/investigative reporter, writing for many newspapers in the metropolitan Boston area. Rosencrance has been writing about information technology for the past 16 years.

She has covered a variety of IT subjects, including Microsoft Dynamics, mobile security issues such as data loss prevention, network management, secure mobile app development, privacy, cloud computing, BI, big data, analytics, HR, CRM, ERP, and enterprise IT.

Rosencrance is the author of six true crime books for Kensington Publishing Corp.

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