AvidXchange, the fast-growing Charlotte-based firm which sells accounts payable and payment automation software and recently surpassed $1 billion in value according to two venture capital data firms, is growing even bigger.

On Monday, AvidXchange announced the acquisition of privately held Ariett, thus expanding its technology reach.

Financial terms were not disclosed.

Ariett’, which has nearly 3,000 customers, provides payment automation solutions that it says enables “the transition to electronic payments easy.” Ariett is based in Massachusetts.

Earlier this year, AvidXchange raised a $300 million round of funding. TechCrunch and CB Insights both cite AvidXchange as “unicorn,” having topped the $1 billion value mark.

AvidXchange, provides accounts payable and payment automation solutions for midsize companies.

“The acquisition will enable the current, and future, joint customer base to benefit from the complementary solutions that will deliver an industry leading purchase-to-pay experience,” AvidXchange said in a statement.

Ariett helps clients produce savings on contracts, requisitions, purchase orders, invoices, payments, and expense reports with a unified procurement platform.

“As a co-founder of AvidXchange, I have a huge appreciation for what the Ariett team, led by Glenn Brodie, has built over the last 15 years,” said Michael Praeger, CEO of AvidXchange.

“Both companies saw the same opportunity to help businesses replace their manual payables processes with more efficient and secure cloud-based solutions. Not only will customers have more visibility into optimizing their supplier purchasing, but they will now also be able to execute all their payments electronically through the AvidPay Network to have a true end-to-end electronic experience by eliminating all paper invoices and paper checks from their accounts payable processes.”

Brodie says the combined company will help customers “optimize spending, gain efficiency, and save money across the purchase to payment cycle. The combined strength and breadth of the two solutions creates an unbeatable powerhouse for midmarket customers seeking a complete requisition to payment platform.”