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How AvidXchange CEO Michael Praeger grew AvidXchange to $388.5M revenue and 8K customers in 2024.

Provider of automating invoice and payment processes platform designed to provide accounts payable and on-demand invoice management services. The company's platform helps to accelerate approvals, reduce processing costs and virtually eliminate paper with more transparency into and control over spending, enabling companies to automate manual tasks and spend time doing more valuable tasks.

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AvidXchange Revenue

In 2024, AvidXchange's revenue reached $388.5M. The company previously reported $316.3M in 2023. Since its launch in 2000, AvidXchange has shown consistent revenue growth.

AvidXchange Revenue GrowthReported revenue / ARR by year$0$100M$200M$300M$400M$500M2000200220042006200820102012201420162018202020222024$0$102M$389MSource: GetLatka.com
YearMilestone
2024AvidXchange Hit $388.5m revenue in December 2024
2023AvidXchange Hit $316.3m revenue in December 2023
2021AvidXchange Hit $102m revenue in April 2021
2000Launched with $0 revenue

AvidXchange Valuation, Funding Rounds

AvidXchange reached a $1B valuation in 2020, set during its Series F round.

AvidXchange has raised $1.4B in total funding across 10 rounds, most recently a $66M Venture Round round in 2020.

AvidXchange Capital Raised & ValuationCumulative capital raised and post-money valuation by roundCapital raised (cum.)Valuation$0$300M$600M$900M$1B$2B200020022004200620082010201220142016201820202000 cumulative: $0 • 2000 Founded: $02002 cumulative: $2M • 2000 Founded: $0 • 2002 Series B: $2M2006 cumulative: $252M • 2000 Founded: $0 • 2002 Series B: $2M • 2006 Convertible Note: $250M2014 cumulative: $262M • 2000 Founded: $0 • 2002 Series B: $2M • 2006 Convertible Note: $250M • 2014 Series F,Venture Round: $10M2015 cumulative: $487M • 2000 Founded: $0 • 2002 Series B: $2M • 2006 Convertible Note: $250M • 2014 Series F,Venture Round: $10M • 2015 Venture Round: $225M2016 cumulative: $505M • 2000 Founded: $0 • 2002 Series B: $2M • 2006 Convertible Note: $250M • 2014 Series F,Venture Round: $10M • 2015 Venture Round: $225M • 2016 Series E: $18M @ $714M valuation2017 cumulative: $805M • 2000 Founded: $0 • 2002 Series B: $2M • 2006 Convertible Note: $250M • 2014 Series F,Venture Round: $10M • 2015 Venture Round: $225M • 2016 Series E: $18M @ $714M valuation • 2017 Private Equity Round: $300M @ $1B valuation2020 cumulative: $1B • 2000 Founded: $0 • 2002 Series B: $2M • 2006 Convertible Note: $250M • 2014 Series F,Venture Round: $10M • 2015 Venture Round: $225M • 2016 Series E: $18M @ $714M valuation • 2017 Private Equity Round: $300M @ $1B valuation • 2020 Series F: $260M2020 cumulative: $1B • 2000 Founded: $0 • 2002 Series B: $2M • 2006 Convertible Note: $250M • 2014 Series F,Venture Round: $10M • 2015 Venture Round: $225M • 2016 Series E: $18M @ $714M valuation • 2017 Private Equity Round: $300M @ $1B valuation • 2020 Series F: $260M • 2020 Series F: $128M @ $1B valuation2020 cumulative: $1B • 2000 Founded: $0 • 2002 Series B: $2M • 2006 Convertible Note: $250M • 2014 Series F,Venture Round: $10M • 2015 Venture Round: $225M • 2016 Series E: $18M @ $714M valuation • 2017 Private Equity Round: $300M @ $1B valuation • 2020 Series F: $260M • 2020 Series F: $128M @ $1B valuation • 2020 Venture Round: $119M2020 cumulative: $1B • 2000 Founded: $0 • 2002 Series B: $2M • 2006 Convertible Note: $250M • 2014 Series F,Venture Round: $10M • 2015 Venture Round: $225M • 2016 Series E: $18M @ $714M valuation • 2017 Private Equity Round: $300M @ $1B valuation • 2020 Series F: $260M • 2020 Series F: $128M @ $1B valuation • 2020 Venture Round: $119M • 2020 Venture Round: $66M$1B2000 Founded: $0 valuation2016 Series E: $714M valuation2017 Private Equity Round: $1B valuation2020 Series F: $1B valuation$1BSource: GetLatka.com
YearRoundAmountValuation% Sold
2020Venture Round$66M--
2020Venture Round$118.9M--
2020Series F$128M$1B13%
2020Series F$260M--
2017Private Equity Round$300M$1.1B27%
2016Series E$18M$714M3%
2015Venture Round$225M--
2014Series F,Venture Round$10M--
2006Convertible Note$250.4M--
2002Series B$2M--

AvidXchange Employees & Team Size

AvidXchange employs approximately 1.6K people as of 2026, up from 1.2K in 2021.

AvidXchange has 1.6K total employees in different roles and functions and 18 sales reps that carry a quota. They have 8K customers that rely on the company's solutions.

AvidXchange Team GrowthReported headcount over time04008001,2001,6002,0002000200220042006200820102012201420162018202020222024001,2141,2141,5771,577Source: GetLatka.com
YearMilestone
2024Reached 1.6K employees (December 2024)
2021Reached 1.2K employees (April 2021)

Founder / CEO

Michael Praeger

Michael Praeger is listed as Founder / CEO at AvidXchange.

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Frequently Asked Questions about AvidXchange

What is AvidXchange's revenue?

AvidXchange generates $388.5M in revenue.

Who founded AvidXchange?

AvidXchange was founded by Michael Praeger.

Who is the CEO of AvidXchange?

The CEO of AvidXchange is Michael Praeger.

How much funding does AvidXchange have?

AvidXchange raised $1.4B.

How many employees does AvidXchange have?

AvidXchange has 1.6K employees.

Where is AvidXchange headquarters?

AvidXchange is headquartered in United States.

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Compare AvidXchange to the industry

AvidXchange operates across multiple industries. Browse revenue, funding, and growth data for AvidXchange in each sector below.

Source Attribution

Source: all data was collected from GetLatka company research and founder interviews. Revenue, funding, team, and customer figures are presented as company-reported or GetLatka-estimated metrics where the profile data identifies them that way.

Company data last updated .

AvidXchange Revenue 2024: $388.5M ARR, $1B Valuation