$APPF AppFolio Inc Deep Dive and 2024 Outlook

The industry vertical SaaS company is growing quickly and it is gaining market share from competitors

AppFolio is a leading provider of cloud-based business management solutions for the real estate industry. The company was founded in 2006 by Jon Walker and Klaus Schauser, who had backgrounds in technology startups. AppFolio's core products are AppFolio Property Manager and AppFolio Investment Management, which are supplemented by Value Added Services that enhance and streamline business-critical processes.

The company's modern, cloud-based technology platform provides a wide range of reusable core functionality and Value+ services that can be leveraged across its targeted verticals. AppFolio serves small and medium-sized businesses (SMBs) in the real estate industry, with a focus on improving their business efficiency and productivity. The company estimates the total addressable market in the United States to be at least $2.0 billion for SMBs. AppFolio has over 20,000 customers managing more than 8 million units. The company has a disciplined market validation process to select and develop new core functionality and Value+ services, as well as identify suitable adjacent markets and new verticals to target.