AppFolio Files For IPO

Goleta-based AppFolio has filed for an IPO, saying in a filing that it is hoping to raise up to $100M on the NASDAQ Global Market as APPF. The IPO is being underwritten by Morgan Stanley, Credit Suisse, Pacific Crest Securities, and William Blair. Appfolio--which is led by Brian Donahoo--is venture backed by Investment Group of Santa Barbara and BV Capital, along with such local angels as Andreas von Blottnitz and Klaus Schauser. AppFolio is at least the second Central Coast company to file for an IPO in the last two weeks; San Luis Obispo-based Mindbody filed for an IPO last week. AppFolio develops cloud-based property management software.