Pacaso secures additional $125M in funding, announces global destinations
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As we approach our one-year anniversary, we are excited to share some big developments in our company’s growth! We have secured an additional $125 million in funding, bringing our total valuation to $1.5 billion. This round of funding was led by SoftBank Vision Fund 2 along with participation from FifthWall, Gaingels, and existing investors Greycroft, Maveron, Crosscut Ventures, 75 & Sunny Ventures, and Global Founders Capital.
Expanding across the US and beyond
Pacaso’s growth and momentum over the past year is unprecedented in the real estate space. In the past six months, Pacaso has doubled its domestic market reach with listings in more than 25 top second home destinations in the U.S., including Napa, Lake Tahoe, Aspen, Malibu, Miami and Vail — and we’re ready to serve even more locations so we can fulfill the second home dreams of owners everywhere.
“Pacaso was the perfect alternative to buying a whole property that would be empty most of the time, or waiting years to own a place in Napa. We saw this as our chance to start enjoying Napa now.” — Marcie V., Pacaso owner in Napa Valley, CA
Our ability to secure prominent investment partners indicates a high level of confidence in our business and our mission to enrich lives by making second home ownership possible and enjoyable for more people. This additional funding will allow us to further accelerate our lightning-speed growth in the U.S., enhance our technology to make it even easier to buy and own a second home with Pacaso, and expand our service globally. That’s right — if you’ve been waiting for a chance to co-own a spectacular home along the sunny Mediterranean Sea, Pacaso will soon offer second home ownership in Spain. Listings in Spain will be available by the end of the year, along with a dedicated team of local agents. Future global destinations will include Mexico and the Caribbean.
“Owning a second home means dealing with maintenance, upkeep, furnishings — it’s a lot of work, especially if it’s far away. With Pacaso, I don't have to worry about any of that. It’s a breath of fresh air.” — Kevin P., Pacaso owner in Park City, UT
Razor Suleman joins Pacaso as President of Pacaso Global
Razor Suleman joined Pacaso in June 2021 and leads our global expansion efforts. Razor is working with local partners in expansion markets to build community connections and identify Pacaso-worthy homes in ideal locations. Prior to Pacaso, Razor co-founded the Canadian-based not-for-profit Elevate with Toronto Mayor John Tory. Elevate’s annual tech festival has included global icons such as Michelle Obama, Al Gore and Martha Stewart. Previously, he was founder and CEO of Achievers, a corporate social network focused on employee engagement backed by Sequoia Capital.
Get in on the action
Interested in joining the Pacaso Crew? We’re hiring, with opportunities for remote and market-based positions in the U.S. and Europe. You’ll be in good company! We are a distributed workforce of more than 115 employees across 20 states, and we’ve grown 364% since January 2021. We are ranked #10 on the Fortune Top 100 Small Workplaces list for 2021 and are Great Places to Work certified.
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