AvidXchange, a leading FinTech provider of Accounts Payable and Payment Automation, announced today that it closed one of the largest private company growth financings for software and technology companies in North Carolina at the groundbreaking ceremony for its new corporate headquarters. AvidXchange closed a $225 million investment led by Bain Capital Ventures and supported by several other investors, including Square 1 Bank headquartered in Durham, N.C. AvidXchange intends to invest a significant amount of the funding to hire staff to support its rapid client growth, make select strategic acquisitions, and develop new product technologies to further serve its clients.
AvidXchange’s groundbreaking ceremony took place at the NC Music Factory, which will be home to its new corporate campus. AvidXchange’s CEO and Co-Founder, Michael Praeger, was joined by Governor Pat McCrory, Mayor Dan Clodfelter, and many other state and city representatives for the groundbreaking event. The campus will support AvidXchange’s existing 420 employees, and the explosive employee growth that it will experience in the years ahead. AvidXchange has added more than 180 employees thus far this year, and that momentum won’t be coming to a halt anytime soon with a hiring trajectory of more than 600 technology jobs over the next four years. AvidXchange’s expansion of the 32-acre site at the NC Music Factory, and the development of a future “state-of-the-art” corporate campus, are a reflection of the significant growth that the company has experienced over the last several years. Construction will begin with an initial six-story, 200,000 sq. ft. 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.
Cadence Music Factory Apartments - Charlotte, NC
Cadence Music Factory Apartments are now under construction at the AvidXchange Music Factory. The 205-unit project will be the latest and greatest urban development slated to open in Summer 2017. The project is a joint venture of Woodfield Investments and Ark Group. This project, coupled with software company AvidXChange’s 200,000 square-foot headquarters development, will work to support the long-term goal of making the Music Factory a truly live-work-play environment. Woodfield Investments is one of Charlotte’s prominent apartment developers with projects Circa Uptown, The Encore SouthPark, Mercury NoDa and Woodfield Northlake.
Raceworld USA - Cornelius, NC
Created and developed 150,000 SF Waltrip Racing/Raceworld USA Top Level NASCAR Interactive Race Shop Interactive NASCAR Race Shop that gives fans a “behind the scenes” experience like never before. Fans get a first hand look at all aspects of a working NASCAR Race Shop as real crews and mechanics work on R&D, pit stop times, and getting the cars ready for the next race.
NC Music Factory - Charlotte, NC
The NC Music Factory is a multi-venue entertainment complex located in Charlotte, NC with over 15 restaurants and entertainment venues as well as a 5,000 seat amphitheater and 2,000 capacity live music hall, both operated by Live Nation, the world’s largest concert promoter.
The project started with a 100 year old textile mill… which has been transformed into charlotte’s entertainment district. NC Music Factory has multiple diverse venues: Time Warner Cable Amphitheatre, Mattie’s Diner, Fillmore Music Hall, Osso Restaurant & Lounge, Comedy Zone, Eight – Sushi Restaurant, VBGB Beer Hall and Garden, Label House, Fountain Plaza, Saddle Up Saloon, Wet Willies. Outdoor stages, restaurants, pubs and entertainment venues offer something for everyone at NC Music Factory.
Developed 14-Plex Stadium Seating Movie theater and surrounding out parcels.
Serenity Point - Tega Kay, SC
Developed 90 home residential community on Lake Wylie. Enjoy Lake Wylie living at its finest and feel like it’s a vacation every day!
Dawson Lake - Greenbrier County, WV
Developed Dawson Lake, an 800 acre unique second home/resort community located in Greenbrier County, West Virginia, nestled in the lush Appalachian Mountains. Large homesites surround the lake and provide the perfect location for your dream mountain home which we’ll build to your custom specifications. The tranquility of Dawson Lake beckons you to become one with nature. Go fishing, relax by the pool or canoe on the lake. Take a walk, go mountain biking or horseback riding on 6 miles of trails.
World Mardi Gras Complex - Indianapolis, IN
Created and Operated an entertainment complex with 5 different restaurant and entertainment concepts. Flashbaxx, The Big Easy, Brewskis, World Mardi Gras Music Hall, Gators.
World Mardi Gras Complex - Ft Lauderdale, FL
Created and Operated an entertainment complex with 5 different restaurant and entertainment concepts. Gotham City Pub, McMurpheys, World Mardi Gras Music Hall, Cantina Mex Cafe.
Level Entertainment Venue - Miami, FL
Created and operated the highest grossing entertainment venue in the world 1999-2003
CityFest Live! Festivals - Charlotte, NC
The largest music festival in the Carolinas featuring the biggest names in the business. 70 Bands on 6 stages with 50,000+ visitors each year.