APPFOLIO INC

Unless otherwise stated in this Annual Report, references to "AppFolio," "we," "us," and "our" refer to AppFolio, Inc. and its consolidated subsidiaries.

Founded in 2006, AppFolio is a technology leader powering the future of real estate. We provide a cloud-based platform, the AppFolio Platform, on which our customers operate their businesses. Our primary customers are property management companies who manage a variety of property types, including single family, multifamily, affordable, commercial, student, and community associations. We help our customers navigate an increasingly interconnected and growing network of stakeholders in their business ecosystems, including property managers, property investors, potential residents, residents, and vendors. We also provide key functionality related to critical transactions across the real estate lifecycle, including screening potential residents, sending and receiving payments, and providing insurance-related risk mitigation services. Our services enable our customers to connect communities, increase operational efficiency, deliver exceptional customer experiences, and improve financial and operational performance. We believe our customer-centric culture leads to long-term customer retention and, ultimately, our long-term success.

Our mission is to build the platform where real estate comes to do business. The AppFolio Platform is designed to deliver value to industry stakeholders throughout the property management ecosystem. These stakeholders include property managers, property owners and investors, residents, and vendors. Our performance-driven platform is (i) a system of record to centralize and store all critical operating information, (ii) a system of action to automate complex workflows while delivering improved outcomes, and (iii) a system of growth to drive value and revenue for the entire ecosystem.

The AppFolio Platform is built upon a unified architecture designed to serve as a single secure system of record for our customers' operational and financial data. This platform foundation provides real-time business intelligence and accounting functionality while maintaining data integrity. Building upon this foundation, AppFolio Realm integrates artificial intelligence, or AI, directly into the platform’s workflows. Through features such as Realm, the platform is capable of automating repetitive, high-volume tasks and promoting operational efficiency. To further enhance the platform's versatility, the AppFolio Stack marketplace utilizes application programming interfaces, or APIs, to facilitate our customers' ability to integrate specialized, third-party technology and services. This extensible ecosystem allows customers and partners to customize their workflows and incorporate specialized external solutions into the unified AppFolio environment.