Travel Startup Evolve Raises $100 Million for Vacation Rentals
- ByStartupStory | February 19, 2022
A $100 million capital round has been announced by Evolve, a vacation rental hospitality firm. The financing was headed by Durable Capital Partners.
Evolve, located in Denver, is a vacation rental management company that has raised $235 million in funding.
According to Evolve, the property management company Vacasa, which went public in December, has a unique business strategy that attracts a diverse range of consumers.
Evolve, unlike Vacasa, operates on an a la carte basis. Its base plan includes all aspects of driving rental income as an on-ramp to promoting a home on major channels like Airbnb, Booking.com, and Vrbo for a 10% commission. It does not cover housekeeping or upkeep. Shooting professional images, generating a listing, providing rate-setting assistance, and handling visitor interactions are just a few of the services available.
Evolve opts for a middle ground of an a la carte strategy, allowing owners to utilize their favorite local suppliers for housekeeping and maintenance if they so want.
Evolve’s success has been fueled by a combination of web marketing and word-of-mouth recommendations. Last year, it increased its workforce by 68 per cent to roughly 800 employees. Since its inception in 2011, the company claims to have served more than 7 million visitors.
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