Evolve Vacation Rental Network Raises $2.7M Series A Financing, Led by Former Priceline Vice Chairman and CFO, Robert Mylod

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Online booking agency for vacation rentals secures financing from travel veteran to grow supplier inventory, improve customer experience and expand team

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We built Evolve to make vacation rental easier and more accessible for everyone.

Evolve Vacation Rental Network (http://www.evolvevacationrental.com), an online booking agency for vacation rentals, announced today that the company has closed $2.7 million in Series A financing led by Robert Mylod, former Vice Chairman, CFO and Head of Worldwide Planning & Strategy of priceline.com, the world’s largest online travel company.

Evolve, one of the fastest growing providers of reservations to the vacation rental industry, partners with property managers and owners to provide online marketing and booking services. It then translates those partnerships into a world-class traveler booking experience.

“Vacation rental is more popular than ever, but that growth presents new challenges,” said Brian Egan, Co-Founder and CEO of Evolve. “Owners and managers want to stay ahead of the curve in an increasingly complex and competitive market, and travelers are looking for a seamless, full-service booking experience. We built Evolve to make vacation rental easier and more accessible for everyone.”

Evolve’s comprehensive service covers every facet of the vacation rental process: creation of high-performing property listings, optimized distribution of that inventory across the most popular vacation rental sites, and personalized traveler support both online and offline. The service is offered risk-free to owners and managers who only pay a modest booking fee on each reservation. Travelers can book through the Evolve Network free of charge.

In conjunction with the financing, Mylod will join Egan and Adam Sherry, Evolve’s Co-Founder & Chief Customer Officer, on the company’s Board of Directors. The company will use the funds to fuel development of its inventory acquisition efforts, improve the customer experience, and expand its team.

“The vacation rental market is going through many of the same growing pains that the air, car rental and hotel markets faced over the past decade,” said Mylod. “I’m excited to work with Brian, Adam and their team at Evolve to create a game-changing service in the industry.”

Egan added, “Bob offers unparalleled experience building and operating online travel companies that have successfully tackled similar challenges. We couldn’t ask for a better partner to lead this round.”

The Evolve Network emerged from beta launch last year. It currently has more than 1,000 vacation rental properties in its inventory and has booked more than 25,000 nights for its owner and manager partners.

“In 2012, we were focused on validating the market and our opportunity,” said Sherry. “This round positions us to scale our supplier partnerships aggressively in 2013.”

About Evolve Vacation Rental Network
Evolve Vacation Rental Network is an online booking agency for vacation rentals. We partner with vacation rental owners and managers to provide online marketing and booking services, while offering travelers the world's best vacation rental booking experience. Our team at Evolve is changing the landscape of the vacation rental industry, eliminating hassle, guesswork and frustration at every turn and making vacation rental easier for everyone. Visit http://www.evolvevacationrental.com for more information.

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Brian Egan, Co-Founder & CEO
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