Runwise, a New York–based proptech startup, has raised $55 million in a Series B funding round to expand its smart building operating system. The round was led by Menlo Ventures, with additional participation from MassMutual Ventures, Nuveen Real Estate, Multiplier Capital, Munich Re Ventures, and existing investors including Fifth Wall. This brings Runwise’s total funding to $79 million and signals strong investor confidence, as the round was oversubscribed.
Runwise delivers a vertically integrated solution that combines proprietary hardware, wireless connectivity, and cloud-based software to modernize how buildings control heating, cooling, water, and electricity. Its platform is already in use in over 10,000 buildings across the U.S. and serves a customer base of more than 1,000 organizations, including major players like Equity Residential, National Grid, and Related.
The system delivers measurable performance improvements for building owners and managers:
-
Up to 30% energy savings
-
Over $100 million in cumulative customer savings
-
A payback period of under five months, making it an attractive solution for cost-conscious operators.
Runwise’s founders—Jeff Carleton, Lee Hoffman, and Mike Cook—believe the future of real estate lies in transforming traditional infrastructure into software-defined buildings. The company’s approach positions it as a bridge between artificial intelligence and the built environment, using data and automation to eliminate inefficiencies in legacy systems.
The new funding will fuel product development, expand team capacity, and support entry into new markets, helping Runwise scale toward its vision of becoming the default operating system for buildings worldwide. The company has grown roughly 30× since its seed round and expects to nearly double again in the next year.