Evolve is a Denver, CO–based vacation rental hospitality company led by CEO Brian Egan. It manages over 19,000 homes across more than 750 markets. The company has generated more than $2 billion in rental income for its owners. Evolve raised $100M in funding in a round led by Durable Capital Partners. The company intends to use the funds to expand operations and its business reach. This latest round brings Evolve’s total funding to $235 million. Evolve operates a tech-enabled vacation rental management platform that handles marketing, bookings and provides homeowners the option to configure on-the-ground services via a vetted network of local partners. Founded in 2011 by CEO Brian Egan, the company manages a portfolio of more than 9,000 properties across over 500 markets in North America. To date Evolve has secured over $350m in rental income for its owners. The company reported triple-digit annual growth and aims to use new capital to support that growth and enhance its core offerings. Evolve is focused on further developing its technology-enabled services platform to scale operations and homeowner services. Its model combines centralized marketing and booking with local service options for property owners. Evolve operates a tech-enabled rental management platform focused on marketing and booking vacation properties while offering owners the option to configure on-the-ground services. The company currently services more than 4,000 properties in over 500 markets across North America and has secured over $150m in gross bookings for its owners. It plans to use new funds for expansion and continued development of its services platform. Evolve has raised $23m in total funding to date. The platform combines marketing, booking and optional local services to drive owner bookings and revenue. The company was founded in 2011 by Brian Egan and Adam Sherry and is based in Denver, Colorado. Evolve provides a full-service vacation rental management product that creates listings optimized for online booking performance, promotes properties on major marketplaces and its own site, responds to traveler inquiries seven days a week, secures bookings online and offline, and handles pre- and post-stay guest communication. The company currently services more than 2,000 vacation rental properties across North America and has booked over 55,000 trips since launch. Evolve plans to use new capital to expand its team and to fuel marketing efforts aimed at the estimated 10 million vacation homeowners in North America. Financially, the company reported a $5.5M funding round and has raised $12M in total to date. The service targets homeowners who want an end-to-end solution for generating rental income without managing day-to-day operations themselves. Evolve was founded in 2011 by Brian Egan and Adam Sherry and is based in Denver, Colorado. Evolve Vacation Rental offers a white-glove service to help homeowners list and market vacation properties online. The company conducts phone consultations, gathers property information and photos, writes SEO-friendly copy, and lists properties across HomeAway, VRBO, FlipKey and its own site. It handles inquiries, takes payment, uses online rental agreements to eliminate faxing, and runs A/B split tests on listings. Evolve does not provide on-the-ground services like cleaning or maintenance but helps homeowners contract those services. Homeowners pay no upfront listing fees; Evolve takes a 10% fee only if it rents the property. Founders Brian Egan and Adam Sherry were early employees at Exclusive Resorts. The startup closed a $530,000 seed round last May from angel investors including Kevin Willer, Andrew Houser, and John Anderson.

Total raised

$197M

Funding rounds

5

Latest round

Equity

Latest activity

Feb 2022