CHARLOTTE —AvidXchange, a Charlotte-based FinTech firm that sells accounts payable and payment automation software, has closed one of the largest private company growth financings for software and technology companies in North Carolina at $225 million led by Bain Capital Ventures and support from other investors, including Square One Bank.
The company said in a statement that it plans to invest a significant amount of the funding to hire staff, make strategic aquisitions, and develop new products.
The company announced the financing at the groundbreaking ceremony for its new headquarters at the 32-acre site NC Music Factory.
Construction will begin with an initial six-story, 200,000 square-foot building to be completed in early 2017, which will complement the existing Silver Hammer facility at the Music Factory where well over 100 AvidXchange employees already work.
The firm added more than 180 employees this year and the company says it sees a hiring trajectory of 600 technology jobs over the next four years. It has more than 5,200 clients for its software, which automates invoice and payment processes for mid-market companies in real estate, financial services, energy, and contruction.
“AvidXchange is a strong example of North Carolina’s prosperous innovation,” said Governor Pat McCrory. “The company’s phenomenal growth coupled with its ability to attract capital investment is worth celebrating and proves once again that North Carolina is a state where homegrown success stories continue to flourish,” said at the groundbreaking ceremony.
AvidXchange has been recognized as one of the Best Places to Work in Charlotte for six consecutive years.
Other investors in the huge fiancing round include: TPG Special Situations Partners, Foundry Group, Nyca Partners, and KeyCorp.
On the web: http://www.avidxchange.com/
