Pacaso raises $75M, goes from launch to unicorn in 5 months

Pacaso, a less-than-one-year-old startup that is out to give more people a chance at second home ownership, announced Wednesday that it has received $75 million in growth funding at a $1 billion valuation.

Greycroft and Global Founders Capital co-led the $75 million in equity financing, which is notable for a few reasons.

For one, the team. Former Zillow executives Austin Allison and (CEO and co-founder) Spencer Rascoff came up with the concept of Pacaso after leaving Zillow together about 18 months ago. (Publicly traded Zillow today has a market cap of $32.9 billion.) The company gives people the ability to purchase shares in, and become co-owners of, a second home.

“We realized that owning a second home had been a very impactful luxury in both of our lives. We’re both fortunate enough to have second homes, and it made a huge difference to us and our friends and family,” Rascoff said. “What we set out to do was to try to democratize access to second homeownership so that it can be something that is not just a luxury available to the 1%, but hopefully it can be available to many tens of millions of other people around the world.”

Something else that stands out about this raise is that Pacaso, which just launched in October 2020, has achieved unicorn status faster than any other company, according to an internal company analysis of Crunchbase data.

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