What is Evolve?
Evolve Vacation Rental Network, based in Denver, Colorado, operates as a next-generation vacation rental management company. It aims to maximize rental income for homeowners while offering unparalleled flexibility, all at a competitive industry fee of 10% per booking. The company currently manages a portfolio of over 9,000 vacation rental properties spread across more than 500 markets in North America, positioning itself as a key player in the property management technology space.
How much funding has Evolve raised?
Evolve has raised a total of $99.2M across 4 funding rounds:
Series A
$2.7M
Series B
$5.5M
Series C
$11M
Unspecified
$80M
Series A (2013): $2.7M, investors not publicly disclosed
Series B (2016): $5.5M led by David Allen Company and Annox Capital
Series C (2017): $11M supported by T. Rowe Price, Annox Capital, Allen & Company LLC, and PAR Capital Ventures
Unspecified (2018): $80M featuring Winslow Capital, Annox Capital, Allen & Company, ArrowMark Partners, Foxhaven Asset Management, PAR Capital Ventures, and T. Rowe Price
Key Investors in Evolve
T. Rowe Price
T. Rowe Price is a global investment management firm founded in 1937, known for managing equity and fixed income funds for a diverse client base, including institutional investors and retirement plans.
Annox Capital
Annox Capital is an investment firm that backs businesses with bold, unconventional approaches and disruptive technology, investing in a range of industries from startups to later-stage ventures.
Allen & Company LLC
Allen & Company LLC, established in 1932, is a Florida-based investment firm providing financial planning and wealth management services, with investment advisory services offered through its registered entities.
What's next for Evolve?
The recent major strategic investment signifies Evolve's transition into a scaling phase, likely focusing on expanding its market reach, enhancing its technology platform, and potentially exploring new service offerings. With significant backing, the company is poised to further disrupt the traditional vacation rental management industry by leveraging its cost-effective model and flexible solutions. Future growth may involve strategic partnerships, technological advancements in guest and owner experiences, and continued geographic expansion.
See full Evolve company page
