AvidXchange
United States
Valuation · 2020
$1B
2024 Revenue
$438.9M
Customers
8K
Funding
$1.4B
Avg ACV
$54.9K
Team
1.6K
Founded
2000
AvidXchange Revenue, Valuation & Funding (2024)
AvidXchange generated $438.9M in revenue in 2024. Source: Company Website
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.
Last updated
AvidXchange Revenue
In 2024, AvidXchange's revenue reached $438.9M. The company previously reported $380.7M in 2023.
| Year | Milestone | Source |
|---|---|---|
| 2024 | AvidXchange revenue for 2024: $438.9m | Company Website |
| 2023 | AvidXchange revenue for 2023: $380.7m | Company Website |
| 2000 | Launched 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 in 2020.
| Year | Round | Amount | Valuation | % Sold | Source |
|---|---|---|---|---|---|
| 2020 | Venture | $66M | - | - | Not recorded |
| 2020 | Venture | $118.9M | - | - | Not recorded |
| 2020 | Series F | $128M | $1B | 13% | Not recorded |
| 2020 | Series F | $260M | - | - | Not recorded |
| 2017 | Private Equity | $300M | $1.1B | 27% | Not recorded |
| 2016 | Series E | $18M | $714M | 3% | Not recorded |
| 2015 | Venture | $225M | - | - | Not recorded |
| 2014 | Series F | $10M | - | - | Not recorded |
| 2006 | Convertible Note | $250.4M | - | - | Not recorded |
| 2002 | Series B | $2M | - | - | Not recorded |
Founder / CEO
Customers
AvidXchange serves 8K customers.
AvidXchange Employees & Team Size
AvidXchange employs approximately 1.6K people as of 2026, up from 1.2K in 2021, including 18 sales reps that carry a quota. It serves 8K customers that rely on its solutions.
| Year | Milestone | Source |
|---|---|---|
| 2024 | Reached 1.6K employees (December 2024) | Not recorded |
| 2021 | Reached 1.2K employees (April 2021) | Not recorded |
Frequently Asked Questions about AvidXchange
Who owns AvidXchange?
AvidXchange is owned by TPG and Corpay, which acquired it.
What is AvidXchange's revenue?
As of 2024, AvidXchange generated $438.9M in revenue.
Who founded AvidXchange?
AvidXchange was founded by Michael Praeger.
When was AvidXchange founded?
AvidXchange was founded in 2000.
How much funding does AvidXchange have?
AvidXchange raised $1.4B across 10 rounds.
How many employees does AvidXchange have?
As of 2024, AvidXchange had 1.6K employees.
Where is AvidXchange headquartered?
AvidXchange is headquartered in United States.
Compare AvidXchange to the industry
AvidXchange operates across multiple industries. Browse revenue, funding, and growth data for AvidXchange in each sector below.
Data and Sources
All figures on this page are taken directly from interviews or are estimates from public sources and proprietary models. Not financial advice. Read full disclaimer.
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