AppFolio, which provides a cloud-based platform for managing rental property, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
AppFolio is one of three major players in rental property management software next to RealPage (NASDAQ: RP) and Yardi.
The Goleta, CA-based company, which was founded in 2006 and booked $54 million in sales for the 12 months ended March 31, 2015, plans to list on the NASDAQ under the symbol APPF. AppFolio initially filed confidentially on April 17, 2015. Morgan Stanley and Credit Suisse are the joint bookrunners on the deal. No pricing terms were disclosed.
