Pros
I have been working at Appfolio for over three and a half years and it's been such an amazing experience to grow, both experience and position wise, with the company. Leadership does an amazing job of clearly explaining our objectives and what the stakes are. I understand how my actions and my teams actions affect the company's performance. There are plenty of opportunities for hard workers to move up and management is putting in place more training for newer managers. It's very exciting to see the investment in home-grown talent! Having worked at other companies that are not as "employee centric," it is very clear that this one is special. I've never worked anywhere that having "Happy" Employees is a focus-it's awesome. That being said, employees have a big responsibility to maintain a positive and productive culture. I've recommended the company to three other friends (who also currently work here) and felt very confident doing so.
Cons
I think there are growing pains with every company that goes from startup to public, but AppFolio has done an awesome job of staying true to its roots.