More than 3,000 county offices maintain the land records that underpin trillions of dollars in U.S. real estate, and for the most part those records have never talked to each other. Balcony, a New York-area proptech startup, is betting $14 million that it can change that by partnering directly with county clerk offices to digitize and structure property data at the source.
The company announced a $12.7 million seed round led by Blockchange Ventures in May, bringing its total raise to $14 million. The capital will fund expansion of engineering and go-to-market teams and push the platform deeper into county and state governments nationwide. Government agencies on the platform are currently managing more than $400 billion in property value, according to the company.
County land records form the legal foundation of every real estate transaction in the country, but they have historically been siloed, paper-heavy and difficult to access. Balcony's model involves contracting with county clerks to digitize records rather than scraping them secondhand, then layering on tools for title insurers, mortgage lenders and capital markets. The platform also includes mTrace, a threat-detection product aimed at helping governments identify fraud and monitor foreign ownership.
The most concrete proof of concept so far is a five-year deal signed last year with the Bergen County Clerk's Office in New Jersey to digitize 370,000 property parcels, representing roughly $240 billion in real estate value. County clerk offices are not known as fast-moving tech adopters, which is precisely what makes the partnership notable.
"For counties like ours, modernizing how land records are organized and accessed is critical," John Hogan, County Clerk of Bergen County, said in a 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."
Beyond Bergen County, Balcony has signed on Camden, Orange, Morristown, Cliffside Park and Fort Lee in New Jersey. In Orange, cleaning up the records revealed nearly $1 million in municipal revenue that the city did not know it was missing, illustrating the immediate fiscal upside for local governments willing to modernize their infrastructure.
Lead investor Ken Seiff, managing partner at Blockchange Ventures, tied the infrastructure gap directly to national security, specifically the difficulty of monitoring foreign ownership of U.S. land under the current fragmented system. Several states have passed or introduced restrictions on foreign land ownership in recent years, and Congress has taken up the issue at the federal level. Fragmented county-level records make those restrictions challenging to enforce consistently.
"Property ownership is a pillar of our economy, and in today's world, it's also a matter of national security," Seiff said. "The drive to build these digital rails is imperative because our fragmented, century-old system is vulnerable." Blockchange made a similar infrastructure-layer bet with Figure Technologies, a fintech company. Seiff says Balcony fits the same playbook of rebuilding foundational rails that incumbents could not or would not rebuild.
For title insurers and mortgage lenders, the potential downstream value is tangible. Cleaner, faster access to verified parcel data would reduce the time and manual labor required for title searches and underwriting. The industry has been trying to solve this problem in pieces for years, mostly by licensing third-party data aggregators that are themselves scraping county records of varying quality. Balcony's model of going directly to the source is a different approach.
Gregg Lester, co-CEO and president of Balcony, framed the product as additive rather than disruptive. "We are not replacing their critical systems," Lester said, "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."