AvidXchange to Add 603 Jobs to Charlotte Corporate Headquarters

September 15, 2014 4:13 pm


Gov. Pat McCrory and North Carolina Commerce Secretary Sharon Decker announced today that AvidXchange, currently headquartered in Charlotte, will create 603 jobs in addition to the 200 jobs currently at the headquarters. The company specializes in automated invoice and bill payment processes.

“AvidXchange is one of North Carolina’s great homegrown success stories,” said Gov. Pat McCrory. “Over the past 14 years, the company has gone from being run from the founder’s basement to one of the top businesses in its industry. It is another great example of the business opportunity North Carolina offers.”

AvidXchange, one of the fastest-growing companies in the U.S., plans to build a new 115,000-square-foot corporate headquarters building at the NC Music Factory in uptown Charlotte. New positions will include software development and engineering, finance, human resources, legal, research and development, and project management. The average wage for these positions will be approximately $52,000 annually.

“AvidXchange is deeply rooted in the Queen City, and as we continue to prosper, it is important for us to grow and contribute to the city that has supported us from our days as a small startup to the Inc. 5000’s 20th fastest-growing company in the Charlotte metropolitan area,” said Michael Praeger, CEO of AvidXchange. “We are thrilled to announce that Charlotte will be the headquarters for our new and expanding corporate campus and are excited about the hundreds of technology jobs and world-class talent that we will bring to the city. It is my hope that we can help Charlotte become a leader of innovation much like Silicon Valley.”

“Rick Lazes and I as well as the entire NC Music Factory family are deeply honored to welcome AvidXchange to the ever growing campus,” said Noah Lazes, ARK Group president. “AvidXchange’s creative employees and innovative work process fit perfectly into the culture of the NC Music Factory. Currently more than 300 residential apartments are being added and now with over 800 new employees on the way the NC Music Factory and its more than 15 restaurants and entertainment venues is one step closer to our goal of becoming a 24-hour city within the city.”

AvidXchange delivers industry-leading accounts payable automation software to the midmarket to reduce processing costs and improve efficiency by eliminating paper invoices and checks. For the fourth consecutive year, the company was included in Inc. Magazine’s Inc. 5000, coming in as the No. 197 fastest-growing software company in the United States in 2014. AvidXchange was the No. 20 fastest-growing company in the Charlotte area.

“AvidXchange’s phenomenal growth in a relatively short period of time is a testament to what the company and the Charlotte business community have to offer. What’s more, the direct and indirect impact felt to our local economy as a result of the more than 600 jobs created will be significant,” said Bob Morgan, Charlotte Chamber president and CEO.

Louis Stephens with Jones Lang LaSalle is representing AvidXchange in its real estate transaction, which is yet to be completed.

The Charlotte Chamber would like to thank Gov. Pat McCrory, Commerce Secretary Sharon Decker, N.C. Department of Commerce, Economic Development Partnership of North Carolina, Charlotte Center City Partners, Mecklenburg County and City of Charlotte for their contributions to this very important project.

For job opportunities at AvidXchange, please visit avidxchange.com/careers.

Click here to read the N.C. Department of Commerce release

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