Pacaso Co-Founders Receive Top Honors in Inman’s 2024 Best of Proptech Awards
SAN FRANCISCO, Nov. 25, 2024 – In a significant win for the innovative real estate company, Pacaso, co-founders Austin Allison and Spencer Rascoff have been named winners in the prestigious 2024 Inman Best of Proptech Awards. This recognition solidifies Pacaso’s position at the forefront of the property technology (proptech) revolution, transforming the way people buy, own, and sell luxury vacation homes.
Allison secured the Entrepreneur category award, a testament to his visionary leadership and entrepreneurial spirit in shaping Pacaso’s groundbreaking co-ownership model. Meanwhile, Rascoff, in his capacity as co-founder and through his venture firm, 75 & Sunny, claimed the Venture Capital award, underscoring the investment community’s confidence in Pacaso’s future potential.
The Inman Best of Proptech Awards celebrate companies and individuals spearheading innovation within the real estate industry. In a period of rapid technological advancement impacting every aspect of real estate, from construction to financing, these awards offer valuable insight into the transformative changes shaping the sector. This year’s winners exemplify how technology can streamline processes, manage services, and offer entirely new ways for real estate professionals to expand their businesses and better serve clients.
“For the second year in a row, Inman is thrilled to acknowledge the companies, products, and leaders who are architecting the future of real estate,” stated Inman CEO Emily Paquette. “These award recipients are trailblazers in residential proptech, pushing industry boundaries and driving unprecedented growth and transformation.”
Pacaso’s Strong First-Half 2024 Performance Fuels Award Success
This achievement comes on the heels of Pacaso’s announcement of exceptional first-half 2024 results. The company reported a remarkable 38% year-over-year increase in adjusted gross profit, reaching approximately $13.2 million. Gross real estate transacted and associated service fees totaled approximately $88 million, showcasing robust demand for Pacaso’s unique co-ownership model. Furthermore, the company reported a significant improvement in adjusted EBITDA, narrowing the deficit to approximately $(10.3) million compared to $(16.9) million in the previous year, signifying considerable progress towards long-term financial sustainability.
These impressive financial figures underscore Pacaso’s sustained momentum and commitment to delivering exceptional value to both co-owners and stakeholders. The results highlight the increasing appeal of shared luxury vacation home ownership, a trend Pacaso is expertly capitalizing upon.
Award Selection Process and Pacaso’s Vision
The Inman editorial team meticulously selected the Best of Proptech award winners across four key categories: alternative financing, entrepreneurs, innovation in construction, and venture capital. Pacaso’s wins in both the entrepreneurial and venture capital categories underscore the company’s holistic approach to disrupting the luxury vacation home market.
Founded in 2020 by Austin Allison and Spencer Rascoff, Pacaso operates as a technology-enabled marketplace, modernizing the concept of real estate co-ownership. The company offers a curated selection of luxury vacation homes in sought-after destinations across the U.S. and internationally. Beyond providing exceptional properties, Pacaso offers comprehensive management services, including white-glove scheduling, personalized concierge services, and seamless resale processes, making the luxury vacation home experience effortlessly accessible to more families.
For more information about Pacaso and its available listings, please visit www.pacaso.com.
