AppFolio Acquires Utility Analytics Company
September 04 2018 - 09:05AM
AppFolio, Inc. (NASDAQ:APPF), a leading provider of cloud-based
business software solutions in the real estate and legal markets,
announced the completion of the acquisition of substantially all of
the assets of WegoWise, Inc., a provider of cloud-based utility
analytics software for approximately 700,000 units, most of which
are multi-family.
The WegoWise platform empowers building owners
and managers to better manage operating and capital expenditures
relating to utilities, and includes the following offerings:
- Automated utility data acquisition and analytics
- Peer-to-peer performance benchmarking
- Spike tracking
- Utility compliance reporting
- EPA Energy Star Portfolio Manager integration
- Retrofit measurement and verification
- Green loan qualification and compliance reporting
With utility management a top priority for large
portfolio property managers and owners, the WegoWise acquisition is
expected to serve as a building block for a future utility
management Value+ Service that will be offered to AppFolio real
estate customers.
About AppFolio, Inc.
AppFolio's mission is to revolutionize vertical
industry businesses by providing great software and service. Our
cloud-based solutions serve over 12,300 customers in the real
estate market and 10,000 customers in the legal market. Today our
products include property management software (AppFolio Property
Manager) and legal practice management software (MyCase). AppFolio
was founded in 2006 and is headquartered in Santa Barbara, CA.
Learn more at www.appfolioinc.com.
About WegoWise,Inc.
WegoWise was founded in 2010 with the mission to
catalyze environmental, social and economic sustainability in the
built environment. Located in Boston, MA, WegoWise’s cloud-based
solutions serve over 450 customers in the US with a large presence
in multi-family.
Investor Relations Contact: ir@appfolio.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," "seeks," "estimates," "expects,"
"intends," "may," "plans," "potential," "predicts," "projects,"
"should," "could," "will," "would," or similar expressions and the
negatives of those expressions. In particular, forward-looking
statements contained in this press release relate to the expected
impact of the WegoWise acquisition on future Value+ services that
may be offered by AppFolio.
Forward-looking statements represent AppFolio's
current beliefs and assumptions based on information currently
available. Forward-looking statements involve numerous known and
unknown risks, uncertainties and other factors that may cause the
Company'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. Some of the risks and uncertainties that may cause the
Company's actual results to materially differ from those expressed
or implied by these forward-looking statements are described in the
section entitled "Risk Factors" in AppFolio's Annual Report on Form
10-K for the year ended December 31, 2017, which was filed with the
SEC on February 26, 2018, as well as in the Company's other filings
with the SEC. You should read this press release with the
understanding that the Company's actual future results may be
materially different from the results expressed or implied by these
forward looking statements.
Except as required by applicable law or the
rules of the NASDAQ Global Market, AppFolio assumes no obligation
to update any forward-looking statements publicly, or to update the
reasons actual results could differ materially from those
anticipated in these forward-looking statements, even if new
information becomes available in the future.
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