Key information

🔎 Fund Overview

AvidXchange Holdings, Inc. is a provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers. The Company’s cloud-based, software and payment platform digitizes and automates the AP workflow for middle market businesses (AvidXchange’s buyer customers), and their service providers and vendors (AvidXchange’s supplier customers). The Company provides solutions and services throughout North America spanning multiple industries including real estate, homeowner’s associations, construction, financial services (including banks and credit unions), healthcare facilities, social services, education, and media. AvidXchange’s software solutions are delivered primarily through a software-as-a-service (SaaS) platform that connects buyer customers using the Company’s AP automation products with a network of their vendors, including supplier customers. The Company has made payments to more than 1,200,000 supplier customers of its buyers.