AppFolio takes $22M for property management software

AppFolio makes software for property managers and the real estate business, designed to track details like applications, vacancies, work orders and accounting.

The Santa Barbara, Calif.-based company is based on a software-as-a-service model to reduce the need for special training, and can also be used in the field on mobile devices.

BV Capital led the $22 million round, according to socalTECH. Other investors included Cisco and the Investment Group of Santa Barbara. It was the year-old company’s second funding; the first, for $5 million, was led by Bertelsmann Venture Capital.

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