$55M Series B led by Menlo Ventures to accelerate product innovation, team growth, and market expansion.
10,000+ buildings using Runwise have already saved over $100M in energy costs, with up to 30% efficiency gains.
Strategic positioning at the AI–built environment intersection drives investor confidence and category leadership.
Runwise, a leading smart operating system for buildings, has raised $55 million in Series B funding to scale its platform and deepen its presence in key markets. The round was led by Menlo Ventures, with significant participation from MassMutual Ventures, Nuveen Real Estate, Multiplier Capital, and Munich Re Ventures, among others. This brings Runwise’s total capital raised to $79 million.
“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, CEO & Co-Founder of Runwise.
Runwise’s platform integrates proprietary hardware, wireless networking, and cloud software to optimize energy usage in real time. Already deployed in over 10,000 buildings across the U.S., the technology has delivered over $100 million in energy savings for customers including Related, Equity Residential, MTA, and National Grid.
“Every building needs to be rebuilt with software, not bricks,” said Lee Hoffman, President & Co-Founder. “We’re transforming outdated infrastructure into intelligent systems that can be installed in a day, paid back in months, and scaled across entire portfolios.”
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“This round gives us the fuel to accelerate that mission and become the global default for the real estate industry,” added Mike Cook, Chief Growth Officer & Co-Founder.
The Series B round was twice oversubscribed, a signal of investor conviction in Runwise’s role at the convergence of AI and the built environment. As part of the deal, Steve Sloane, Partner at Menlo Ventures, joins Runwise’s board.
“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,” said Sloane. “Runwise bridges that gap, creating smarter, more sustainable spaces at scale.”
Customer adoption highlights Runwise’s bottom-line impact.
“More than 150 of our buildings have installed Runwise,” said John Skipper, Director of Energy Management at First Service Residential. “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.”
Runwise reports 30X growth since its seed round and expects to nearly double again this year. With a typical payback period of under five months, the platform is enabling portfolio-wide deployment for asset managers seeking to align operational performance with ESG targets.
As the most capitalized and widely deployed smart building platform in the U.S., Runwise is setting a new benchmark for how buildings operate—proving that the future of infrastructure runs on software.
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