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§ Private Profile · San Francisco, CA, USA
Pacaso is a technology company.
Pacaso has raised $596.5M across 6 funding rounds.
Key people at Pacaso.
Pacaso was founded in 2020 by Spencer Rascoff (Co-Founder, Chair of Board of Directors).
Pacaso has raised $596.5M in total across 6 funding rounds.
Pacaso operates a co-ownership platform for luxury second homes, enabling individuals to purchase fractional shares, typically one-eighth to one-half, of high-value properties. It delivers a fully managed service covering acquisition, legal structuring, interior design, maintenance, and resale, providing a streamlined path to shared vacation homeownership. This approach optimizes property utilization while simplifying the complexities of owning a second residence.
Founded in 2020 by former Zillow executives Austin Allison and Spencer Rascoff, Pacaso emerged from the observation that many second homes are underutilized, often sitting vacant for extended periods. They recognized a market need for practical, flexible vacation options, establishing a structured co-ownership model through real estate expertise to address this inefficiency and broaden access.
Pacaso serves affluent individuals and families seeking premium vacation properties without the full financial or operational burden of sole ownership. Its vision is to redefine second home ownership, making it more accessible and efficient for discerning buyers. The company plans to expand its managed properties in desirable locations, continually enhancing access to leisure living.
Pacaso is a technology-enabled real estate platform that facilitates fractional co-ownership of luxury vacation homes, allowing buyers to purchase shares (one-eighth to one-half) in high-end properties while handling all management, maintenance, and scheduling.[1][3][5] It serves affluent individuals seeking second homes without the full financial or operational burden, solving pain points like high costs, upkeep hassles, and underutilization by democratizing access through shared equity and a seamless digital marketplace.[1][6] The company has shown strong growth, raising $35 million from over 10,000 investors in a 2025 Regulation A+ offering, transacting $164.5 million in gross real estate fees in 2024 (up with 18% adjusted gross profit growth), and operating in 40+ destinations across the US, Mexico, and Europe, with plans for Italy and the Caribbean.[3]
Pacaso was founded in 2020 by Austin Allison and Spencer Rascoff, both former Zillow executives with deep expertise in real estate tech.[1][3][6] The idea emerged from their shared passion for making second-home ownership more attainable; after leaving Zillow, they brainstormed ways to "right-size" ownership by enabling buyers to purchase only the share they need, inspired by Allison's personal experience achieving his own second-home dream.[6] Early traction came quickly: Pacaso pivoted from a third-party marketplace to a first-party model (buying homes itself) to secure inventory, hit $1 billion valuation in five months as the fastest US unicorn at the time, and raised nearly $220 million from VCs like SoftBank before shifting to equity crowdfunding.[4][5] Key moments include disrupting timeshares with true equity ownership and building a secondary market for reselling shares.[4]
Pacaso rides the wave of the sharing economy and collaborative consumption applied to real estate, blending proptech with AI to transform the $40B+ second-home market amid rising luxury demand and economic pressures making full ownership inaccessible.[1][2] Timing is ideal post-2020 remote work boom and wealth concentration, with market forces like high interest rates favoring fractional models over sole purchases; its AI scales operations without proportional headcount growth, enabling rapid global expansion.[2][3] By modernizing co-ownership—previously niche or litigious—Pacaso influences the ecosystem as a benchmark for tech-driven real estate, inspiring platforms with predictive tools and equity crowdfunding (e.g., $72.5M Reg A raise), while fostering liquidity in illiquid assets.[3][4][5]
Pacaso is poised for accelerated global scaling, leveraging 2025 funding and AI efficiencies to enter high-demand markets like Italy and the Caribbean, potentially pushing toward renewed unicorn valuation through higher transaction volumes and EBITDA improvements.[2][3] Trends like AI personalization, IoT integration, and crowdfunding will shape its path, enabling hyper-local adaptations and broader investor access amid VC constraints.[2][5] Its influence may evolve from disruptor to category leader, redefining luxury real estate as inclusive and tech-native—echoing its founding mission to make second-home dreams attainable for more.[1][6]
Pacaso has raised $596.5M across 6 funding rounds. Most recently, it raised $72.5M Other Equity in October 2025.
Pacaso was founded in 2020 by Spencer Rascoff (Co-Founder, Chair of Board of Directors).
Pacaso has raised $596.5M in total across 6 funding rounds.
Pacaso's investors include Rebecca Kacaba, Lydia Jett, 8VC, Acequia Capital, A'Z Angels, Cadenza Capital Management, Craft Ventures, Euclid Ventures, Fifth Wall, General Catalyst, Goodwater Capital, Greycroft.
Key people at Pacaso.
