
Total amount raised
$224.2 Millions
Latest funding date

Location
Evolve has successfully raised significant capital through multiple funding rounds, with its latest being a Series F round. The company has garnered the support of prominent investors, including Durable Capital Partners and T. Rowe Price.
Continue reading to delve into the details of Evolve's funding journey and the key investors who believe in its vision for modern vacation rental management.
What Is Evolve?
Evolve, founded in 2011 by Adam Sherry and Brian Egan, is a hospitality company based in Denver, Colorado. They specialize in making vacation rentals easy for both guests and homeowners. With a team of 501-1000 employees, Evolve offers 24/7 guest support and a low 10% management fee for homeowners.
How Much Funding Has Evolve Raised?
- Series A
- Amount Raised: $2.7M
- Date: April 2013
- Lead Investors: Robert Mylod Jr.
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation and scale initial operations.
- Series B
- Amount Raised: $5.5M
- Date: June 2016
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance service offerings.
- Series C
- Amount Raised: $11M
- Date: June 2017
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and improve technology infrastructure.
- Series D
- Amount Raised: $80M
- Date: August 2018
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase property listings.
- Series E
- Amount Raised: $25M
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To navigate the challenges posed by the COVID-19 pandemic and sustain growth.
- Series F
- Amount Raised: $100M
- Date: February 2022
- Lead Investors: Durable Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate property growth and continue innovating the vacation rental experience.
Total Amount Raised: $224.2M. Current Valuation: Not publicly disclosed.
Key Investors
- Durable Capital Partners
- Details: Durable Capital Partners is an investment manager focused on companies with the potential to compound over time. It was co-founded by Henry Ellenbogen in 2019, who was previously the Portfolio Manager of T. Rowe Price's New Horizon Fund.
- Investment Focus Areas: Companies with the potential to compound, private and public markets, long-term investments in durable businesses.
- Notable Investments: Not publicly disclosed.
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm founded in 1937. It offers a broad range of mutual funds, subadvisory services, and separate account management for individual and institutional investors.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Amazon, Google, Facebook.
- Robert Mylod Jr.
- Details: Robert Mylod Jr. is a venture capitalist and the managing partner of Annox Capital. He has a background in finance and has served on the boards of several high-profile companies.
- Investment Focus Areas: Technology, travel, financial services.
- Notable Investments: Booking Holdings, Redfin, Vroom.
What's Next for Evolve?
With the recent $100 million funding, Evolve is poised to capitalize on the growing demand for vacation rentals. The company plans to accelerate property growth and enhance the guest experience through innovations like the Rest Easy Promise and Risk-Free Guarantee. Managing over 19,000 homes and generating more than $2 billion in rental income, Evolve is well-positioned to expand its market presence.
Future fundraising opportunities seem promising, given the company's impressive growth trajectory and the increasing interest in vacation rentals. However, Evolve may face challenges in maintaining high standards and customer satisfaction as it scales. Navigating competitive pressures and ensuring sustainable growth will be crucial for the company's continued success.
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