AppFolio, Inc. Completes $86 Million IPO

Represented AppFolio, Inc. (NASDAQ: APPF) a provider of cloud-based software solutions, in its IPO. 

AppFolio sold an aggregate of 7,130,000 shares of its Class A common stock (including shares subject to the underwriters’ overallotment option) at an initial public offering price of $12.00 per share or gross proceeds of approximately $86 million. The joint book-running managers were Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC, and the co-managers were Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., and William Blair & Company, L.L.C.

Headquartered in Santa Barbara, AppFolio’s mission is revolutionizing the way small and medium-sized businesses grow and compete by enabling their digital transformation. AppFolio creates comprehensive, easy-to-use cloud-based business management software for vertical markets, including its property management software (AppFolio Property Manager) and legal practice management software (MyCase).