American cost automation firm AvidXchange has raked in an extra USD 128 million in fairness capital for accounts payable platform, reviews Digital Funds Worldwide.
This an extension of the USD 260 million funding spherical the corporate closed in January 2020.
The newest funding spherical was joined by Lone Pine Capital, Schonfeld Strategic Advisors, Pivot Funding Companions, Mastercard, Sixth Road Companions and Neuberger Berman on behalf of purchasers.
This marks Lone Pine Capital, Neuberger Berman and Schonfeld Strategic Advisors’ first funding within the cost automation firm.
AvidXchange mentioned that it’ll use the proceeds to conduct strategic progress initiatives and continued innovation.
AvidXchange focuses on automating bill and cost processes.