Second home co-ownership startup pacaso raises $75m

Real estate found two more unicorns (startups with valuations above $1 billion) in March with a $75 million funding round by second home co-ownership startup Pacaso and a $150 million funding round by tech-focused brokerage Side, which provides a platform that puts agents and their branding front and center. Pacaso, which offers a platform that allows homeowners to purchase shares in second homes, has reportedly hit unicorn status faster than any other U.S. company has. The startup, run by dotloop founder Austin Allison as CEO and former Zillow Group CEO Spencer Rascoff as chairman, provides an innovative twist on the housing market with its model. Side, which launched in 2017, is a bit older, but represents, too, the newer models catching the attention of investors. These companies’ fast rise and rapid growth reveal the financial sophistication that now exists in the tech-age wing of the residential real estate industry.