The Business Problem:

Staying on the Same Page in a Rapidly-Changing Organization 

AvidXchange was on the verge of dramatic growth when they began working with Rhythm 16 years ago. They rapidly hired new employees to meet their needs, expanding from a headcount of 50 to 1,600. As the organization transformed, keeping teams aligned to meet key deliverables was critical—but not easy. 

Product launches, acquisitions, R&D, and customer success required multiple departments and teams to work together seamlessly. The risk of missing handoffs and falling short of customer commitments was greater than ever. 

How Rhythm Helped:

Closing the Communication Gap Around Goals

Michael Praeger, CEO and Co-Founder of AvidXchange, committed to his team’s success through vertical and horizontal alignment. Rhythm launched a company-wide training initiative, focusing on how to use the software and methodology to promote transparency around goals. Rhythm coaches pinpointed areas of misalignment, which helped teams make crucial planning and execution adjustments to bridge communication gaps. 

The Results:

An IPO Too Big to Miss

Cross-functional team alignment allowed AvidXchange to increase productivity by 300%, resulting in a key product launching 6 months earlier than scheduled. By 2021, they made a successful IPO at a $2 billion valuation. 

Top firms such as Bain Capital Ventures, Sequoia Capital, TPG, and Mastercard swiftly became key investors. 

Sustained Growth Year After Year

During the past 8 years, AvidXchange has grown revenue by 40% every single year. By mastering alignment with Rhythm, they have surpassed the competition in execution speed and have become a fintech leader.