AppFolio Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

AppFolio Strengths, Domain Expertise, and Key Differentiators

AppFolio stands out with several strengths that bolster its position in the property management software market. Its key differentiators include a comprehensive suite of features tailored specifically for property managers, covering everything from marketing to accounting and resident communications. Leveraging domain expertise, AppFolio offers specialized solutions for various property types, including multifamily, commercial, student housing, and community associations. Moreover, its product portfolio encompasses not only property management but also real estate investment management, catering to a wide range of needs within the industry.

AppFolio Recent Developments

In 2023, AppFolio, has showcased its commitment to innovation at its annual Customer Conference in Santa Barbara by unveiling groundbreaking product advancements. Among these innovations is Realm-X, a conversational interface designed to streamline property management workflows using generative AI. By automating tasks such as leasing, maintenance, and accounting, Realm-X empowers property managers to prioritize resident connections and business growth. AppFolio's dedication to AI integration positions it as an industry leader, offering customers unparalleled productivity and growth opportunities.

In 2023, AppFolio, a pioneering cloud-based platform tailored for the real estate sector, has recently unveiled a suite of groundbreaking advancements aimed at enhancing the experience of property managers and residents alike. Among these developments is AppFolio Realm, a comprehensive solution amalgamating existing AI-powered features with innovative additions, such as a specialized affordable housing solution. AppFolio Realm represents the manifestation of the company's vision to simplify community management, empowering property managers to streamline workflows, gain valuable insights, and elevate productivity.

In 2023, AvidXchange integration with AppFolio, announced on automation benefits within the real estate sector. By joining forces, the two industry leaders aim to streamline invoice processing, approvals, and payments for AppFolio's vast network of 19,000 real estate customers. This collaboration promises to simplify workflow management by seamlessly integrating invoice details and transactions into AppFolio's accounting systems, thereby eliminating the need to juggle critical transaction records across multiple platforms.

AppFolio has recently enhanced the capabilities of its flagship products, AppFolio Property Manager and AppFolio Property Manager PLUS. These developments underscore AppFolio's commitment to meeting the evolving needs of its clientele while navigating unprecedented circumstances.

AppFolio Mergers and Acquisitions (M&A) Activities

AppFolio, a provider of cloud-based business software solutions, services and data analytics, announced that it has entered into a definitive agreement to sell 100% of the equity interest of its wholly-owned subsidiary, MyCase, which provides legal practice and case management software solutions, to Funds advised by Apax Partners (the “Apax Funds” or “Apax” for approximately $193 million in cash.

Appfolio acquired Dynasty Marketplace, Inc., ("Dynasty"), a provider of advanced artificial intelligence ("AI") solutions for the real estate market, and began offering an AI Leasing Assistant, Lisa, as a Value+ service to their property management customers.

AppFolio acquired all of the assets of WegoWise a provider of cloud-based utility analytics software for approximately 700,000 units, most of which are multi-family. With utility management a top priority for large portfolio property managers and owners, the WegoWise acquisition is expected to serve as a building block for a future utility management Value+ Service that will be offered to AppFolio real estate customers.

AppFolio Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying AppFolio applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of AppFolio and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified AppFolio Property Manager, AppFolio Investment Management, AppFolio Lisa customers.

AppFolio Key Enterprise and Cloud Applications

AppFolio Property Manager, AppFolio Investment Management, AppFolio Lisa

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AppFolio Direct vs Indirect sales

AppFolio Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified AppFolio Customers

No. of AppFolio Customers: 18441

No. of AppFolio Enterprise Applications Customers: 18441

No. of AppFolio Cloud Customers: 18441

No. of AppFolio Cloud Subscribers: x

AppFolio had 18,441 property management customers.

AppFolio Property Manager customers are Gelt, Eric Davis Group, Walters Home Management, Lois Moore, Carefree Property Management, McGrath Real Estate, Caviness & Cates Communities, H.M.S.Development, Jackson Group Property Management, Austin Landmark Property Services, Gordon Property Management, and others.

AppFolio Market Opportunities, M&A and Geo Expansions

AppFolio's recent advancements not only exemplify its commitment to innovation but also underscore its strategic vision for growth and efficiency in the real estate sector. With the introduction of Realm-X, powered by generative AI, AppFolio continues to redefine property management workflows, enabling managers to focus on resident connections and business expansion.

Through strategic partnerships such as the integration with AvidXchange, Best Egg, AppFolio amplifies its value proposition, offering seamless solutions for invoice processing and workflow management, ultimately empowering its vast network of real estate customers to thrive in a dynamic market landscape.

AppFolio, a provider of cloud-based business software solutions, services, and data analytics to the real estate market, appointed Fay Sien Goon as Chief Financial Officer of AppFolio, effective October 18, 2021. Ms. Goon joined AppFolio from ServiceNow, a global enterprise software company that delivers digital workflows and had a $5B+ revenue run-rate in 2021. As Chief Accounting Officer for ServiceNow, she led the accounting and finance functions through numerous years of successful growth. Prior to joining ServiceNow, she spent 11 years at Ernst & Young, leading external audits of large and pre-IPO technology companies.

During 2019, AppFolio has made and will continue to make, significant investments in research and new product development to expand their software solutions, services, and data analytics capabilities as they deem appropriate in their target markets. They intend to continue using their market validation techniques and close relationships with their customers as a key source of feedback to inform and direct their product roadmap. AppFolio may also choose to acquire rather than build certain technology solutions, or to partner with third parties to deliver key functionality to serve their existing or prospective customers.

AppFolio Risks and Challenges

AppFolio faces a spectrum of risks, encompassing both internal and external factors alongside go-to-market challenges. One prominent risk involves the inherent tension between their strategic focus on long-term growth and the short-term expectations of certain investors, which may diverge. Additionally, post-IPO, AppFolio might confront the necessity of augmenting its portfolio through acquisitions to fortify its position in the market, especially in the face of formidable competitors like Yardi and RealPage, ensuring its continued competitiveness and relevance in the industry landscape.

AppFolio Ecosystem, Partners, Resellers and SI

In 2023, the strategic partnership between Best Egg, renowned for its financial solutions empowering individuals with limited savings, and AppFolio, a premier provider of cloud-based business management solutions for real estate, marks a significant milestone in the evolution of rent payment methods. Through the integration of Best Egg's Flexible Rent solution into the AppFolio Property Manager resident portal, over seven million renters across the United States gain access to a personalized and flexible rent payment option without leaving their resident portal.The synergy between Best Egg and AppFolio heralds a new era in rent payment solutions, demonstrating a shared commitment to innovation and industry leadership.

Among its partners are, Move.com, RentalAds.com, RentPath Network, Rentals.com, Apartment Guide, Rent.com, Zumper, Realtor.com, Abodo, Show Me The Rent, Homes.com, KeyLasso, FRBO, Uloop, EveryRent, RentLingo, Walk Score, Hunt, RadPad, CampusCribz, RentHop, Michigan Affordable Housing Solutions, USA Today College, Low Income Housing Authority, Apartable, PadMapper, Houses321.com, Zillow Rental Network, Lovely, Apartments.com, Apartment List, RentalSource.com, RentFocus, Trovit, ApartmentLove, ClassifiedAds, CallitHome, UniversityParent, uCribs, RealRentals, Trulia, HotPads, RPOA of Kent County (MI Rental Guide), Michigan Housing Council, Washtenaw Area Apartment Association (MIdigs.com), Detroit Metropolitan Apartment Association,Renvy, Alaska Housing Finance Corporation, Ann Arbor Observer, Property Management Association of Michigan, Advance Digital Local Market Network, Kentucky Rents, Bryan - College Station Apartment Association, Westside Rentals, Smoke-free Housing NY, CitySpade, Michigan Smoke-Free Apartments, North Dakota Apartment Association, Jackson Area Landlords Association, Eastern Michigan University Off-Campus Housing, Washington Multi-family Housing Association, Smoke Free Nebraska, Boston Real Estate Investors Association, Corpus Christi Apartment Association, New York Capital Region Apartment Association, Southwest Missouri Rental Housing Association, Shiawassee Regional Chamber of Commerce, Washtenaw Guide, Respiratory Health Association of Metropolitan Chicago, Tobacco-Free Western New York, American Lung Association in Oregon, Apartment & Rental Source, Northwest Arkansas Apartment Association, Bismarck - Mandan Apartment Association, REIA of Toledo, KSdigs, Connecticut REIA.

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Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

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