Charlotte unicorn AvidXchange filed another new round of capital this month.
The payment automation solutions provider, founded in 2000 by Michael Praeger and David Miller, raised $8 million in equity capital, according to a filing with the U.S. Securities and Exchange Commission.
This is AvidXchange's third capital raise of 2020. They announced a $260 million funding in January and a $127.5 million funding in April.
The company became a unicorn, a private company valued at $1 billion or more, when it raised $300 million in 2017.
In 2019, the company acquired BankTEL Systems (and a subsequent 2,000 bank customers) and announced an HQ expansion project. It was also one of CB Insight’s global unicorns for the third year in a row.
AvidXchange has 1,400 employees across seven offices.
