Evolve Vacation Rental Network, a Denver, CO-based vacation rental management company, raised $5.5m in funding.
The round was led by funds and accounts advised by T. Rowe Price Associates, Inc., with participation from Annox Capital and Allen & Company.
The company, which has raised $12m in total funding, plans to use the investment to expand its team and fuel marketing to the 10 million vacation homeowners in North America.
Founded in 2011 by Brian Egan and Adam Sherry, Evolve provides a vacation rental management service that assists homeowners with every aspect of generating rental income including creating listings optimized for online booking performance, promoting them on the major vacation rental marketplaces as well as its own site, responding to traveler inquiries seven days a week, securing bookings online and offline, and handling all pre- and post-stay guest communication.
The company currently services more than 2,000 vacation rental properties throughout North America and has booked more than 55,000 trips since its launch.