Balcony, a company building modern data infrastructure for the U.S. property market, has announced it has raised a $12.7 million seed round led by Blockchange Ventures, bringing its total raise to $14 million. The financing will be used to accelerate the development of “digital rails” for America’s real estate economy. The Keystone infrastructure is currently helping government agencies in the U.S. manage and secure over $400 billion in property value on its platform.
Balcony recently signed a five-year contract with the Bergen County Clerk’s Office in New Jersey to digitise and bring 370,000 property parcels onto its platform, representing approximately $240 billion in real estate value.
Gregg Lester, co-CEO and President of Balcony, said, “Our role is to partner with these public servants to build a modern, secure, and connected data layer upon that bedrock. We are not replacing their critical systems, but rather building the digital rails alongside them to ensure these foundational records can power a more transparent and secure market for the next century.”
Ken Seiff, Managing Partner at Blockchange Ventures, said, “The drive to build these digital rails is imperative because our fragmented, century-old system is vulnerable. Balcony’s ability to create a verifiable and connected view of land records is the gamechanger, empowering governments to protect against fraud and monitor foreign ownership, which in turn builds the foundation of trust required to finally modernize the rails for the entire real estate economy.”
The funding will also scale Balcony’s engineering and go-to-market teams and expand the deployment of its platform across county and state governments nationwide.
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