Reducing Carbon Footprint and Lowering Energy Expenses in Buildings - Runwise Secures $55 Million Investment
Runwise, a building control technology provider headquartered in New York, has raised $55 million in a capital raise, aiming to enter the core markets of the United States, the United Kingdom, and Germany with their innovative wireless sensor technology.
The funding, which includes $30 million in a Series B round and $25 million in debt financing from Multiplier Capital, will be used to support product innovation, team expansion, and entry into new markets.
Jeff Carleton, CEO and Co-Founder of Runwise, emphasized the need for modernization in the building sector. "Most buildings still run on 1960s technology," he stated, "wasting billions of dollars, making cities less safe and comfortable, and generating massive amounts of CO2."
Runwise's platform combines wireless technology, hardware, and cloud-based software to automate building operations, delivering energy cost savings of over $115 million in more than 10,000 buildings across the U.S. The platform has also cut carbon emissions equivalent to more than 100,000 cars.
Returning investors in the Series B round include Soma Capital, Alumni Ventures, Helium-3, Cooley, and Fifth Wall. New investors include MassMutual Ventures, Nuveen Real Estate, and Munich Re Ventures.
Steve Sloane, Partner at Menlo Ventures, praised Runwise's position in AI innovation and the built environment, stating, "We're excited to partner with Runwise as they bring this transformative tech to new heights."
The Series B round was led by Menlo Ventures, with Soma Capital, Alumni Ventures, Helium-3, Cooley, and Fifth Wall returning as investors. The company's platform is fundamentally changing how buildings operate, creating smarter, more sustainable spaces at scale.
With this significant investment, Runwise is poised to make a significant impact in the global built environment, improving energy efficiency, reducing costs, and promoting sustainability.
As Runwise prepares to enter new markets, they plan to allocate part of their funding for innovation in environmental-science and technology, aiming to modernize and improve the energy efficiency of buildings. The firm's focus on integrating AI and wireless technology within the built environment is also attracting interest from finance and business sectors, with investors like Steves Sloane from Menlo Ventures praising their work and expressing excitement to fund their growth.
