Overview of Transaction

• On September 14, 2015, AvidXchange announced a minority $235mm Series E financing round; on November 28, 2016, AvidXchange announced an $18mm extension from strategic investors
• Bain Capital Ventures led the equity round with additional investments from the Foundry Group, TPG, KeyBank, and Nyca Partners
• Fifth Third Bancorp led the strategic extension with additional participation from Pivot Investment Partners
• As part of this financing, Matt Harris of Bain Capital Ventures, Hans Morris of Nyca Partners, and Brad Feld of the Foundry Group joined AvidXchange’s Board of Directors
• AvidXchange is a best-in-class business-to-business software company that is revolutionizing how companies pay their bills by automating the invoice and payment processes
• The Company focuses on serving midmarket clients and spans multiple industries including Real Estate, Financial Services, Energy and Construction

Significance of Transaction

• The transaction will further help AvidXchange expand as the leading independent business-to-business invoice and payment solution provider
• Firmly positions the Company to continue to grow the core business, invest in infrastructure and product development and pursue opportunistic acquisitions

FT Partners' Role

• FT Partners served as exclusive strategic and financial advisor to AvidXchange and its Board of Directors
• FT Partners leveraged its deep knowledge, extensive experience and broad industry relationships to help achieve a highly favorable outcome for the Company
• Transaction demonstrates FT Partners’ continued success advising $100mm+ financings