Runwise—a leading smart operating system for buildings—announced a $55 million Series B financing round. The funding round was led by Menlo Ventures, with meaningful participation from new investors MassMutual Ventures, Nuveen Real Estate, Multiplier Capital, and Munich Re Ventures, as well as returning backers Soma Capital, Alumni Ventures, Helium-3, Cooley, and Fifth Wall. The new funding round will support product innovation, team expansion, as well as entry into new core markets. The raise brings Runwise’s total funding to $79 million.
This funding round was twice oversubscribed, underscoring investor confidence in Runwise’s category-defining approach to making buildings smarter, more efficient, and cost-effective.
Momentum: Runwise is now installed in over 10,000 buildings across the U.S., serving upwards of 1,000 customers, including major real estate owner-operators like Related, Equity Residential, First Service Residential, MTA, Port Authority, National Grid, Rudin, LeFrak, UDR, Douglas Elliman, and Akam, among others. These assets have collectively saved over $100 million in energy costs to-date.
Runwise’s vertically integrated platform combines proprietary hardware, wireless connectivity, and cloud-based software to automate and optimize building operations. And with rapid deployment and a typical payback period of under five months, it marks the first time the economics of installing a smart operating system for buildings actually pencil, unlocking portfolio-wide scale. And since its seed round, the company has grown over 30X and is on track to nearly double again this year, driven by demand for solutions that deliver tangible ROI, operational simplicity, and environmental impact.
New board member: Steve Sloane, Partner at Menlo Ventures, will join Runwise’s Board of Directors as part of this investment.
KEY QUOTES:
“Most buildings—old and new—still run on 1960s technology, wasting billions of dollars, making living and working in cities less safe and comfortable, and generating massive amounts of CO2.”
Jeff Carleton, Chief Executive Officer & Co-Founder, Runwise
“Every building needs to be rebuilt with software, not bricks. That’s what we’re doing at Runwise, transforming outdated infrastructure into intelligent systems that can be installed in a day, paid back in months, and scaled across entire portfolios.”
Lee Hoffman, President & Co-Founder, Runwise
“This round gives us the fuel to accelerate that mission and become the global default for the real estate industry.”
Mike Cook, Chief Growth Officer & Co-Founder, Runwise
“Over the next decade, there will only be two types of companies: those that drive AI innovation and those that enable AI to transform the physical world. Runwise is perfectly positioned at the intersection of these forces, bridging the critical gap between AI and the built environment. Their platform is fundamentally changing how buildings operate, creating smarter, more sustainable spaces at scale. We’re excited to partner with Runwise as they bring this transformative tech to new heights.”
Steve Sloane, Partner at Menlo Ventures
“Runwise delivers exactly what building operators need: real savings and simplicity. More than 150 of our buildings have installed Runwise, and in most buildings we have seen up to 30% in energy savings, while making the buildings more comfortable, and easier to manage. It’s a win for affordability, a win for operations, and a win for the environment.”
John Skipper, Director of Energy Management at First Service Residential
