Blockchange Ventures led the funding round for Balcony, founded in 2021. The round brings total funding to $14 million.
In a statement, the company said the fresh capital will go toward engineering, platform deployment and other efforts.
The company operates Keystone, described as a “unified platform for property intelligence” that helps public agencies manage and secure more than $400 billion in property value.
The company’s clients include Bergen County, N.J., which has a five-year deal with Balcony, and Hopkins County, Ky., which earlier this year signed a two-year contract.
The Bergen County deal involves digitizing 370,000 property parcels as part of the company’s platform — parcels valued at a collective $240 billion.
“For counties like ours, modernizing how land records are organized and accessed is critical,” John Hogan, county clerk of Bergen County, said in the statement. “Balcony’s platform works alongside the systems we already use to help us organize decades of records in a way that improves transparency and makes information easier for both our office and the public to access.”
Hopkins will use Balcony to upgrade its land management record systems by “unifying land records and tax assessment data using Balcony’s Keystone solution,” according to the company. “The platform will serve as the infrastructure layer of property and land data, creating a comprehensive 360-degree parcel view.”
Balcony says much of its opportunity comes from the more than 3,000 county offices that keep land records, much of them “fragmented across local systems, creating friction and risk for the entire economy,” according to the statement.
The company’s sales pitch is that it can create “digital rails” for the property market, resulting in structured and connected layers of data.
“We have a profound respect for the public records that counties steward,” said Gregg Lester, co-CEO and president of Balcony, in the statement. “Our role is to partner with these public servants to build a modern, secure and connected data layer upon that bedrock.”
