AvidXchange
United States
Valuation
$1B
2024 Revenue
$388.5M
Customers
8K
Funding
$1.4B
YOY
22.8%
Avg ACV
$48.6K
Team
1.6K
Churn
5%
How AvidXchange CEO Michael Praeger grew 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.
Last updated
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.
| Year | Milestone | Quote |
|---|---|---|
| 2024 | AvidXchange Hit $388.5m revenue in December 2024 | |
| 2023 | AvidXchange Hit $316.3m revenue in December 2023 | |
| 2021 | AvidXchange Hit $102m revenue in April 2021 | |
| 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 round in 2020.
| Year | Round | Amount | Valuation | % Sold | Quote |
|---|---|---|---|---|---|
| 2020 | Venture Round | $66M | - | - | |
| 2020 | Venture Round | $118.9M | - | - | |
| 2020 | Series F | $128M | $1B | 13% | |
| 2020 | Series F | $260M | - | - | |
| 2017 | Private Equity Round | $300M | $1.1B | 27% | |
| 2016 | Series E | $18M | $714M | 3% | |
| 2015 | Venture Round | $225M | - | - | |
| 2014 | Series F,Venture Round | $10M | - | - | |
| 2006 | Convertible Note | $250.4M | - | - | |
| 2002 | Series B | $2M | - | - |
Founder / CEO
Q&A
| Question | Answer |
|---|---|
| What's your age? | - |
| Favorite online tool? | - |
| Favorite book? | - |
| Favorite CEO? | - |
| Advice for 20 year old self | - |
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 |
|---|---|
| 2024 | Reached 1.6K employees (December 2024) |
| 2021 | Reached 1.2K employees (April 2021) |
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.
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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