AppFolio Unveils FolioSpace™ to Transform the Resident Experience and Help Customers Build Thriving Communities, Acquires LiveEasy to Accelerate its Vision
FolioSpace gives AppFolio property management customers new ways to deliver exceptional value and experiences to their residents
AppFolio acquires LiveEasy to integrate convenient moving and home services into FolioSpace
SANTA BARBARA, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) -- AppFolio (NASDAQ:APPF), the technology leader powering the future of the real estate industry, today unveiled FolioSpace™, a next-generation resident experience that redefines how property managers and renters connect throughout the entire resident journey. FolioSpace will enable AppFolio's 20,000 property management customers to create a unified and elevated experience for the millions of residents they serve — from application through renewal.
To accelerate its resident vision, on October 22, 2024 AppFolio acquired all of the outstanding shares of LiveEasy, a concierge platform providing moving and home services. By vertically integrating LiveEasy and offering its services as part of FolioSpace Resident Onboarding, AppFolio will reduce the stress of moving, deliver increased convenience, and save renters time and money.
FolioSpace: Reimagining How Property Managers Engage with Residents
A recent AppFolio survey reveals residents expect timely communication, on-demand digital experiences, and support during the move-in process. However, traditional resident management approaches often fall short, limiting operational efficiency and resident satisfaction. Meeting these expectations is critical for property managers to gain an edge in an increasingly competitive market.
FolioSpace reimagines how property managers engage with residents by bringing the entire resident journey into one application. By streamlining tasks and communication, FolioSpace replaces traditional manual processes with intuitive digital workflows, including:
- Resident Application & Screening: A seamless application and approval process for applicants while providing property managers the data they need to select trusted residents and protect themselves from fraud.
- Resident Onboarding: A configurable digital checklist to streamline leasing and welcome new residents, plus with LiveEasy, access to savings and dedicated support in setting up their utilities, internet and cable, and moving services.
- Resident Services Marketplace: A collection of essential services to improve residents' living experience, while also creating value for property managers.
- Resident Inbox: A reimagined inbox gives residents a central location to communicate with their property managers for everything from maintenance requests to leasing questions. Property managers can use AppFolio Realm-X Messages, which leverages the power of genAI, to help them sort through, act on, and respond to routine resident communications.
"We envision a world where living in communities feels magical and effortless, freeing people to thrive," said Chris Womack, Chief Growth Officer of AppFolio. "By welcoming LiveEasy and enhancing AppFolio's one powerful platform through FolioSpace, we are taking an important step on our journey of delivering exceptional value and experiences to our property management customers and the residents they serve."
"LiveEasy's mission is to provide surprisingly simple moving and living experiences that combine technology and human touch for renters and homeowners," said Venkatesh Ganapathy, CEO of LiveEasy. "With AppFolio's commitment to innovation and expansive footprint, we believe this combination will propel that mission and enable us to exceed the expectations of both current and new customers."
For More Information
- Learn more about FolioSpace
- Register for FUTURE Conference next week in San Diego to attend sessions focused on the resident experience:
- "The Resident Experience Revolution: Leveraging Tech to Enhance Engagement and Retention"
- "First Impressions Count: Revolutionizing Resident Onboarding with Digital Excellence"
- "Stand Out from the Competition: 2024 Renter Preferences Research Insights"
- Watch the FUTURE opening mainstage event broadcast on LinkedIn Live on Tuesday, October 29 at 9:00am PT.
The transition to FolioSpace will be seamless for existing users of AppFolio's current Resident Portal, requiring no new download or account creation. AppFolio will proactively work with customers to jointly bring the new experience to residents.
Additional Acquisition Information
LiveEasy is the trade name of Move EZ, Inc., which AppFolio acquired via merger for approximately $80 million, subject to customary adjustments.
About AppFolio
AppFolio is the technology leader powering the future of the real estate industry. Our innovative platform and trusted partnership enable our customers to connect communities, increase operational efficiency, and grow their business. For more information about AppFolio, visit appfolio.com.
About LiveEasy
LiveEasy is the country's most comprehensive home services platform. LiveEasy partners with a range of businesses, including property management, brokerage, mortgage, home inspection, insurance, and more. Its turnkey solution enables businesses to customize, brand, and embed home services solutions into their workflows so they can offer a true end-to-end moving and home services solution to renters and homeowners. For more information about LiveEasy, visit liveeasy.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements that are not statements of historical fact contained in this press release, and can be identified by words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "future," "predicts," "projects," "target," "seeks," "contemplates," "should," "will," "would" or similar expressions and the negatives of those expressions. In particular, forward-looking statements contained in this press release include statements relating to the potential benefits and effect of the FolioSpace resident application and the acquisition of LiveEasy and their impact on AppFolio's plans, objectives, expectations and capabilities.
Forward-looking statements represent AppFolio's current beliefs and expectations based on information currently available and speak only as of the date the statement is made. Forward-looking statements are subject to numerous known and unknown risks, uncertainties and other factors that may cause AppFolio's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The risks, uncertainties and other factors that may cause actual results, performance or achievements to materially differ from those expressed or implied by these forward-looking statements include AppFolio's ability to successfully launch the FolioSpace resident application and integrate the LiveEasy business, AppFolio's ability to implement its plans, objectives and expectations with respect to the FolioSpace resident application and the LiveEasy business, negative effects of the announcement of the FolioSpace resident application and/or the Live Easy acquisition on AppFolio's business operations, operating results or share price, and unknown liabilities associated with the acquisition as well as those risks, uncertainties and other factors described in the section entitled "Risk Factors" in AppFolio's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which was filed with the SEC on February 1, 2024, and the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations" in AppFolio's most recently filed Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as well as in its other filings with the SEC. You should read this press release with the understanding that AppFolio's actual future results may be materially different from the results expressed or implied by these forward-looking statements.
AppFolio undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ca49f9fd-edcc-4d48-b939-91518d73ceee
Media Contact Mission North for AppFolio [email protected] Investor Contact Lori Barker [email protected]
