Runwise, a smart operating system for buildings, announced a $55 million Series B financing round. The round was led by Menlo Ventures — a venture capital firm investing at the forefront of AI— with meaningful participation from new investors MassMutual Ventures, Nuveen Real Estate, Multiplier Capital and Munich Re Ventures, alongside returning backers Soma Capital, Alumni Ventures, Helium-3, Cooley and Fifth Wall.
“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,” said Jeff Carleton, Runwise CEO and co-founder.
The fresh capital will support product innovation, team expansion and entry into new core markets. The raise brings Runwise’s total funding to $79 million.
“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 That’s what we’re doing at Runwise — transforming outdated infrastructure into intelligent systems that can be installed in a day, paid back in months, and scaled across entire portfolios,” said Lee Hoffman, president and co-founder, Runwise.
This round was twice oversubscribed. Steve Sloane, partner at Menlo Ventures, will join Runwise’s board of directors as part of this investment.
Runwise is installed in more than 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. 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 true portfolio-wide scale. 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.
