Runwise Secures $55M to Expand AI-Powered Operating System for Smarter, Greener Buildings
Runwise, a leading smart operating system for buildings, has raised $55 million in a Series B funding round. This investment will help scale their platform and strengthen their presence in critical markets. The round was led by Menlo Ventures, with participation from MassMutual Ventures, Nuveen Real Estate, Multiplier Capital, Munich Re Ventures, and others. With this latest funding, Runwise has raised a total of $79 million.
Jeff Carleton, CEO and Co-Founder of Runwise, points out the inefficiencies of current building technologies: “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.”
Runwise’s platform combines proprietary hardware, wireless networking, and cloud software to optimize energy use in real time. Deployed in over 10,000 buildings across the U.S., the system has delivered more than $100 million in energy savings to clients such as Related, Equity Residential, MTA, and National Grid.
Transforming Buildings with Software
Lee Hoffman, President and Co-Founder, emphasizes the need for software-driven infrastructure: “Every building needs to be rebuilt with software, not bricks. We’re transforming outdated infrastructure into intelligent systems that can be installed in a day, paid back in months, and scaled across entire portfolios.”
Mike Cook, Chief Growth Officer and Co-Founder, adds that the new funding accelerates their mission: “This round gives us the fuel to accelerate that mission and become the global default for the real estate industry.” The Series B round was twice oversubscribed, reflecting strong investor confidence in Runwise’s position at the intersection of AI and the built environment.
As part of the deal, Steve Sloane, Partner at Menlo Ventures, joined Runwise’s board. He noted, “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 bridges that gap, creating smarter, more sustainable spaces at scale.”
Proven Impact and Rapid Growth
Customer adoption highlights Runwise’s tangible benefits. John Skipper, Director of Energy Management at First Service Residential, shared, “More than 150 of our buildings have installed Runwise. In most buildings, we’ve seen up to 30% in energy savings while making them more comfortable and easier to manage. It’s a win for affordability, operations, and the environment.”
Since its seed round, Runwise has grown 30-fold and expects to nearly double again this year. With a typical payback period under five months, the platform supports portfolio-wide deployment for asset managers aiming to improve operational performance and meet ESG targets.
As the most funded and widely adopted smart building platform in the U.S., Runwise is setting a new standard for building operations, proving that the future of infrastructure runs on software.
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