Evolve Vacation Rental Network, a Denver, CO-based vacation rental management company, raised $80m in funding.
The round, which brought total funding to $103m, was led by funds and accounts advised by T. Rowe Price Associates, with participation from Winslow Capital Management, Foxhaven Asset Management, and Arrowmark Partners and existing investors Annox Capital, Allen & Company LLC, and PAR Capital Ventures.
The company intends to use the funds to support its triple-digit annual growth, enhance its core offerings, and further the development of its tech-enabled services platform.
Founded in 2011 by Brian Egan, CEO, Evolve is a vacation rental management company operating a portfolio of more than 9,000 properties in over 500 markets across North America. It manages all aspects of marketing and booking vacation rental properties, while providing homeowners with the option to configure on-the-ground services to their liking, including access to a vetted network of local partners.
To date, the company has secured over $350m in rental income for its owners.