What is Evolve?
Headquartered in Denver, Colorado, Evolve Vacation Rental Network operates as a next-generation management platform designed to maximize rental income for homeowners while providing unparalleled flexibility. By charging a flat fee of 10% per booking, the company has established a cost-effective alternative to traditional property management firms. Currently, Evolve services over 9,000 vacation rental properties across more than 500 markets in North America, leveraging proprietary technology to streamline the booking process and enhance guest experiences. Its market position is defined by a commitment to transparency, low-cost service, and a scalable infrastructure that empowers individual property owners to compete effectively in the global travel economy.
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 Allen & Company LLC, PAR Capital Ventures, T. Rowe Price, and Annox Capital
Unspecified (2018): $80M featuring Winslow Capital, T. Rowe Price, Annox Capital, PAR Capital Ventures, Allen & Company, ArrowMark Partners, and Foxhaven Asset Management
Key Investors in Evolve
T. Rowe Price
A global asset management organization providing investment solutions and financial services through active management, fundamental research, and long-term investment perspectives.
PAR Capital Ventures
A private investment fund focused on long-term success through rigorous fundamental research and disciplined portfolio management for its limited partners.
Annox Capital
An investment firm specializing in businesses that utilize disruptive technology or innovative online strategies, targeting a diverse range of industries including real estate.
What's next for Evolve?
With this major strategic investment, Evolve is well-positioned to accelerate its market penetration and further refine its technology stack. The company is expected to focus on enhancing its automated booking tools and expanding its footprint into new, high-demand vacation markets. By leveraging the expertise of its institutional partners, Evolve aims to solidify its leadership in the property technology space, potentially exploring new service verticals that complement its core rental management offering. The focus remains on maintaining its industry-leading fee structure while scaling operations to meet the evolving needs of both property owners and travelers in an increasingly digital-first hospitality environment.
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