AvidXchange Names John Feldman Chief Operating Officer, Appoints Doug Anderson as Chief Product Officer

CHARLOTTE, N.C., Aug. 02, 2023 (GLOBE NEWSWIRE) -- 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 Statements
This 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 Kumar
skumar1@avidxchange.com
813-760-2309

Media Relations Contact:
Olivia Sorrells
osorrells@avidxchange.com
386-848-3656