Runwise

New York, NY Climate Tech Private

Runwise is a New York-based smart building control platform that retrofits multifamily and commercial buildings with proprietary wireless sensors, a heat computer, and machine-learning software to optimize boiler and heating system operation. The company combines hardware, software, and expert oversight to cut fuel consumption by an average of 20-25%, reduce carbon emissions, and help building owners comply with regulations such as NYC Local Law 97. Runwise's wireless mesh network installs in a day and works with any central heating system, and the company has expanded from NYC into a nationwide footprint of more than 10,000 buildings.

Overview

Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.

Founded

2018

Employees

150–200

Total Funding

$79.2M

3 rounds

Funding

Total raised $79.2M across 3 rounds

Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.

Last updated 06-25-2026

Latest Round

Type

Series B

Date

June 2025

Amount

$55M

Valuation

Lead Investors

Menlo Ventures
DateRoundAmount RaisedValuationLead Investors
June 2025 Series B $55M Menlo Ventures
November 2022 Series A $19M Fifth Wall
April 21, 2020 Seed $5.2M Initialized Capital

Prominent Investors

Fifth Wall Rudin Management SOJA Ventures The Strykers Derive Ventures Susa Ventures Next View Ventures Waterman Ventures Helium-3 MCJ Collective Silence VC The Cannon Project

Leadership

  • Jeff Carleton

    Co-Founder & CEO

  • Lee Hoffman

    Co-Founder & President

    LinkedIn
  • Michael Cook

    Co-Founder & Chief Growth Officer

    LinkedIn
  • Daniel Cray

    Chief Financial Officer

  • Kelly-Ann Corrigan

    Chief Operating Officer

  • Dmitri Nesterenko

    VP, Software Engineering

  • Shawn Hoffman

    VP, Product & Data Science

Competitors

Competitor list is illustrative and may be incomplete, stale, or erroneous.

  • Parity

    AI-powered HVAC and boiler optimization platform for multifamily and commercial buildings, leveraging remote operators and machine learning to reduce energy use.

  • EnTech

    NYC-focused provider of remote monitoring and basic control systems for building boilers and heating equipment.

  • Intech 21

    Building automation company offering boiler monitoring and energy management hardware/software primarily to NYC multifamily owners.

  • Joulea

    AI- and drone-based energy assessment platform that identifies efficiency improvements in commercial real estate.

  • BrainBox AI

    Autonomous AI HVAC optimization platform for commercial buildings, using predictive analytics to cut energy use and emissions.

  • 75F

    Smart HVAC controls and building automation provider offering wireless sensors and cloud-based optimization for commercial real estate.

Runwise Investment FAQ

Public status and buying access

No. Runwise is a private company and does not have a public stock ticker or trade on a public stock exchange. Its shares are generally held by founders, employees, investors, and other private shareholders. Buyers and sellers may be able to transact in Runwise shares through private secondary transactions, but any transaction depends on share availability, buyer and seller agreement, transfer restrictions, company approval rights, and any applicable right of first refusal. There is no guarantee that Runwise will complete an IPO or other liquidity event.

Yes, it is sometimes possible to buy Runwise shares pre-IPO through private secondary transactions. This depends on finding a willing seller, company approval, and satisfying any transfer restrictions or rights of first refusal.

Buyers interested in buying Runwise shares on the secondary market typically do so through SetterVC and other secondary-market platforms, subject to eligibility requirements, share availability, transfer restrictions, and issuer approval. Buyers may need to satisfy sophistication, accreditation, institutional, platform, regulatory, or other eligibility requirements before participating. Once eligible, buyers may be able to view listings, make bids, and work with a licensed broker through the transaction process. Buyers should ensure they have appropriate legal and financial advisors guiding them before completing any transaction.

Valuation and funding

Runwise's latest disclosed funding round was a Series B round in June 2025. The round raised approximately $55M, with Menlo Ventures listed as disclosed lead or major investors. Primary funding rounds are different from secondary transactions: in a primary round, capital goes to the company, while in a secondary transaction, investors buy existing shares from current shareholders. Funding-round data reflects publicly reported or collected information and may be incomplete.

Runwise has raised approximately $79.2M in disclosed funding across 3 rounds. These figures reflect primary capital raised by the company and do not include every possible secondary transaction, undisclosed round, debt facility, or private transfer. Reported funding totals can change as new rounds are announced or older round details are corrected. Eligible users can use SetterVC to track Runwise's funding history alongside private-market activity where available.

Runwise's disclosed investors include Fifth Wall, Rudin Management, SOJA Ventures, The Strykers, Derive Ventures and Susa Ventures. Investor lists are based on public reporting, company announcements, and collected funding-round data, and may be incomplete. Participation in a prior funding round does not mean those investors are currently buying or selling shares. On SetterVC, eligible users can review Runwise's funding history, valuation history, and private-market activity alongside other venture-backed companies.

Market context

Runwise's most-cited competitors include Parity, EnTech, Intech 21, Joulea, BrainBox AI and 75F. Investors often compare these companies by sector, product focus, valuation, funding raised, growth signals, investor base, and private-market activity.

Secondary-market demand for Runwise shares can be affected by company performance, revenue growth, profitability, funding history, valuation, investor interest, sector momentum, public-market conditions, expected timing of a liquidity event, and the availability of shares for sale. Demand can also be affected by transfer restrictions, company approval rights, right of first refusal processes, limited information, and the price expectations of buyers and sellers. Strong demand does not guarantee strong pricing, liquidity, or investment returns. Weak demand does not necessarily reflect the company's long-term prospects. Demand signals should not be treated as a recommendation or prediction of investment performance. Buyers and sellers should treat demand signals as informational and conduct their own diligence before transacting.

Selling and transaction mechanics

Sellers often rely on intermediaries and platforms, such as SetterVC and other secondary-market platforms, to identify potential buyers. The exact process varies by company and transaction, but sellers often begin by confirming their ownership, desired price, transferability, and any company approval or notice requirements. If the seller agrees with a buyer on acceptable price and terms, the company may need to be notified through a share transfer notice or similar process. If a right of first refusal, company approval right, or other transfer restriction applies, the seller may need to wait until that process is completed. The parties may then execute a purchase and sale agreement, complete required transfer documentation, and close if all required conditions are satisfied. Sellers should always seek proper legal and financial advice before completing the transaction.

Yes, current and former Runwise employees, early investors, and other existing shareholders may be able to sell vested shares before an IPO through a private secondary sale. This is not automatic; it depends on whether the shareholder has transferable shares, whether there is buyer demand, and whether the company's governing documents permit the transfer. Many companies require prior notice, company approval, or a right of first refusal before shares can be sold. Sellers should also seek proper legal and financial advice before proceeding.

A Runwise secondary transaction usually involves an existing shareholder selling shares to a buyer before a public listing. The buyer and seller typically agree on price, number of shares, share class, and closing conditions. The seller may then need to notify Runwise through a share transfer notice or similar process. If Runwise or existing investors have approval rights, transfer restrictions, or a right of first refusal, those steps may need to be completed before the transfer can close. The parties typically enter into a purchase and sale agreement, complete any required transfer documentation, and close only if the necessary conditions are satisfied. Timing and certainty can vary by company and transaction.

In most private secondary transactions, parties commonly use a purchase and sale agreement that outlines price, terms, and conditions. They may also use share transfer documentation, often a stock transfer notice, share transfer notice, transfer instruction, or similar document, along with any required company approval or right of first refusal materials. Proof of ownership, such as a cap table entry, share certificate, brokerage statement, issuer confirmation, or administrator confirmation, may also be important. Buyers often request recent company financials, but private companies may limit disclosure. Since every deal varies, buyers and sellers should consult legal and financial advisors to understand which documents are needed.

Risk, diligence, and investor caution

Buying Runwise shares pre-IPO is risky. Shares are illiquid, no IPO or liquidity event is guaranteed, valuations can change, transfers may require company approval, and private companies may provide limited financial disclosure. Be prepared for total loss. SetterVC and Setter Capital do not provide due diligence, legal, tax, accounting, valuation, or investment advice. Buyers must conduct their own due diligence, verify information, and seek independent legal and investment advice before proceeding.

Private secondary shares are typically illiquid. Unlike public stocks, there is no active public market, so selling them can be difficult and time-consuming. Sales depend on finding a willing buyer and often require company approval. Investors should be prepared to hold the shares for an extended period, with no guarantee of a future sale. Always assess your need for liquidity before investing.

SetterVC and Setter Capital do not provide due diligence, legal, tax, accounting, valuation, or investment advice. Buyers must conduct their own due diligence, including verifying ownership, transferability, legal structure, company approval, and assessing the company's prospects. SetterVC and Setter Capital do not provide advice on whether an investment is good, what price to pay, or what the best bid or ask is. SetterVC and Setter Capital may share documents in some circumstances, but it does not guarantee their accuracy or completeness. Due diligence is essential. Seek legal and investment advice as needed.

Before buying Runwise shares, a buyer should try to review the share class, price per share, implied valuation, transfer restrictions, ROFR process, company approval rights, seller ownership evidence, recent financing or tender-offer information, available financial information, information rights, resale restrictions, tax considerations, and expected liquidity paths. Not all information may be available for a private company. Buyers should confirm available diligence, process details, and information needs with their own legal, tax, and investment advisers.

SPVs carry risks. Examples include the need to confirm the company allows SPV-based transfers, verify that the SPV truly owns the shares or interests it claims to own, and ensure it has not sold more interests than it holds. Due diligence is essential. Seek legal and investment advice as needed.

Forward contracts carry risks. Examples include the seller refusing to transfer the shares at the future date, even if the seller owns them, the seller going bankrupt with creditors claiming the shares, or the seller committing the same shares to multiple parties. Due diligence is essential. Seek legal and investment advice as needed.

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Data collected with AI, which can make mistakes. Please double-check this information.