The pair forced their way into a 49-year-old man's home, where they threatened him and his 17-year-old daughter with a firearm.
Police described it as a "terrifying" incident and said they believe it was a targeted attack. The incident happened at around 11pm on Sunday at a property in Glen Avenue, Largs, Ayrshire.
Police said the robbers, both men, made off with cash as well as other personal items. No one was injured. Both men are described as being around 5ft 10ins and of slim build.
Detective Sergeant John Deans said: "I would appeal to anyone who may have seen something suspicious to contact police."