Rascoff’s Pacaso Vaults to Unicorn Status as Greycroft Invests

Pacaso, a startup that offers shared ownership of residential properties, has raised $75 million in new capital at a valuation of $1 billion -- just six months since its launch.

The San Francisco-based company, founded by Zillow Group Inc. co-founder Spencer Rascoff and Dotloop founder Austin Allison in October, said it reached so-called unicorn status faster than any other U.S. company.

Pacaso co-founders Spencer Rascoff, left, and Austin Allison.

Photographer: Cory Sherwood/Pacaso

“Second-home ownership was already a dream for families pre-pandemic, but that interest has only amplified with Covid-19 shifting the way people work and live,” Allison, Pacaso’s CEO, said in an interview.

The company acquires homes then sells ...