AvidXchange, a leading provider of accounts payable (AP) automation
software and payment solutions for middle market businesses and
their suppliers, today announced that John Feldman has been
elevated to the role of Chief Operating Officer of AvidXchange,
Inc. Feldman will continue to oversee the transformation of the
company’s service and fulfillment operations around
standardization, sourcing and automation. Additionally, Doug
Anderson has joined AvidXchange, Inc. as Chief Product Officer to
lead the company’s product strategy and innovation.
Feldman joined AvidXchange in 2019 as Senior Vice President of
Operations. Prior to joining the company, Feldman spent over three
decades in the financial services industry with globally renowned
institutions, including Bank of America and Capital One,
transforming operational environments, leading effective
cross-functional teams and driving innovation.
“John is a testament to the culture of excellence at
AvidXchange, and he’s just getting started as we continue to scale
and pursue unit cost efficiencies,” said Michael Praeger, Chairman,
Chief Executive Officer, and Co-Founder of AvidXchange.
“John is a proven quantity, and I am thrilled to elevate him to
the role of Chief Operating Officer given the success he has
already delivered to date. His commitment to refining processes and
inspiring those around him has not only raised areas of our
business but has also driven productivity to new levels,” added Dan
Drees, President of AvidXchange.”
“I’m honored to be a part of AvidXchange’s continued growth and
evolution,” said Feldman. “Operational excellence is at the core of
what we do for middle market businesses. In combination with Doug
joining as our new product lead, I’m confident that we’re going to
be able to do great things for AvidXchange and our customers.”
With more than 20 years of experience, Anderson brings a wealth
of expertise in product strategy, management, design, analytics and
operations at scale. His product career spans across
multiple domains including consumer, enterprise, multi-sided
marketplaces, travel and real estate. In his most recent position
as Chief Product Officer at Pacaso, Anderson’s strategic vision and
leadership were instrumental in developing an innovative and
patented platform for second home ownership. Prior to that, at SAP
Concur, he scaled product management, growing the team from seven
to 150 global employees while simultaneously achieving 6X revenue
growth.
“I am excited to announce the appointment of Doug Anderson as
Chief Product Officer,” said Drees. “Doug will leverage his
formidable experience to continue to execute on our product
development roadmap toward driving innovation for our customers.
His passion for building businesses that empower people
at scale aligns greatly with our mission and values.”
“AvidXchange has built remarkable technology and has positioned
itself as a leader in the mid-market B2B AP automation software and
payments space,” said Anderson. “I am excited to join AvidXchange
as it continues to evolve its product, while maintaining its edge
in the space, to keep up with the demands of today’s back-office
teams and the customers it serves.”
Both Feldman and Anderson will report to Dan Drees. Feldman is
based in Charlotte, North Carolina where AvidXchange is
headquartered. Anderson is based in San Francisco, California.
To learn more, visit: https://www.avidxchange.com
About AvidXchange®AvidXchange is a leading
provider of accounts payable (“AP”) automation software and payment
solutions for middle market businesses and their suppliers.
AvidXchange’s Software-as-a-Service (“SaaS”) based, end-to-end
software and payment platform digitizes and automates the AP
workflows for 8,800 businesses and we have made payments to 965,000
supplier customers of our buyers over the past five years.
Additionally, AvidXchange, Inc. is a licensed money transmitter
for US B2B payments, licensed as a Money Transmitter by the New
York State Department of Financial Services, as well as all other
states that require AvidXchange to have a license.
To learn more about how AvidXchange, and its publicly traded
parent AvidXchange Holdings, Inc. (Nasdaq: AVDX), are transforming
the way companies pay their bills,
visit www.AvidXchange.com.
Forward-Looking StatementsThis press release
may contain “forward-looking statements” within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995. In this
context, forward-looking statements generally relate to future
events or our future financial or operating performance and often
contain words such as: “anticipate,” “intend,” “plan,” “goal,”
“seek,” “believe,” “project,” “estimate,” “expect,” “future,”
“likely,” “may,” “should,” “will” and similar words and phrases
indicating future results. The information presented in this press
release related to expectations of future performance,
opportunities for future growth, as well as other statements that
are not purely statements of historical fact, are forward-looking
in nature. These forward-looking statements are made on the basis
of management’s current expectations, assumptions, estimates and
projections and are subject to significant risks and uncertainties
that could cause actual results to differ materially from those
anticipated in such forward-looking statements. We therefore cannot
guarantee future results, performance or achievements. Factors
which could cause actual results or effects to differ materially
from those reflected in forward-looking statements include, but are
not limited to, the risk factors and other cautionary statements
described, from time to time, in AvidXchange’s filings with the
Securities and Exchange Commission (“SEC”), including, without
limitation, AvidXchange’s Annual Report on Form 10-K and other
documents filed with the SEC, which may be obtained on the investor
relations section of our website (https://ir.avidxchange.com/) and
on the SEC website at www.sec.gov. Any forward-looking statements
made by us in this press release are based only on information
currently available to us and speak only as of the date they are
made, and we assume no obligation to update any of these statements
in light of new information, future events or otherwise unless
required under the federal securities laws.
Investor Contact:Subhaash
Kumarskumar1@avidxchange.com 813-760-2309
Media Relations Contact:Olivia
Sorrellsosorrells@avidxchange.com386-848-3656
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