Case 11 AppFolio

AppFolio was founded in the year 2006. AppFolio is the leading provider of cloud business management solutions for the real estate industry. AppFolio solutions are designed for the ecosystem of users such as property managers, property owners, real estate, and investment managers. The solution provided by AppFolio facilitates customers to digitally transform their businesses, automate, and streamline critical business operations. The solutions provide services related to real estate life cycle, screening potential tenants, sending and receiving payments, and insurance-based risk mitigation services. The intuitive interface coupled with streamlined and automated workflows helps customers to eliminate redundant and manual processes. The platforms and mobile-optimized solutions offered by AppFolio can be used across multiple devices and operating systems. By 2021 end, the company had 1600 employees of which approximately 45% were women. The company focuses on product innovation and new customer acquisition for long-term success. The products offered by AppFolio are powered by a highly scalable computing platform and are designed with a strong focus on data security and availability. By 2021, AppFolio had 17,215 property management customers. The average book value of equity as a percent of market value was approximately 5% during the period 2018–2021. On an average basis, the total assets, total equity, and total revenue grew by 34%, 55%, and 24%, respectively, during the period 2018–2021.