Runwise
Runwise operates a wireless smart-control platform that automates heating, cooling, gas-leak, and water-leak management for multifamily, commercial, and government buildings. The company serves 1,000+ building-owner and property-management customers across 10,300+ North American buildings via one-time hardware fees and recurring subscriptions.
- Company typePrivate
- Founded2015
- HeadquartersNew York, United States
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Runwise does
Runwise (Runwise Inc.) is a New York-based building-technology company that operates a wireless smart-control platform for the built environment. The company's product combines proprietary wireless hardware (sensors with a stated 10-year battery life and a single control computer) with cloud-based software to monitor and automate heating, cooling, gas-leak detection, and water (toilet) leak detection in multifamily residential, commercial, and government/transit buildings. Runwise reports an installed base of 10,300+ buildings across North America and 1,000+ customers, with named enterprise and government users including Related Companies, LeFrak, Rudin Management, Equity Residential, FirstService, Douglas Elliman, Fairstead, FSR, NYC MTA, LIRR, and NJ Transit.
The platform is differentiated by one-day wireless installation that replaces the multi-week, wired legacy controls common in 1970s-era buildings, and is positioned to deliver 21% heating savings, 17% cooling savings, and 22% water-bill reductions. Runwise monetizes through a one-time hardware and installation fee plus an annual subscription covering 24/7 support, a dedicated building-systems expert, and technician service; a zero-upfront-cost financing option enables adoption without capital outlay. The go-to-market combines direct enterprise field sales with distribution through Con Edison and National Grid utility rebate programs and a November 2025 IoT-connectivity partnership with Verizon (Mobile Private Network and ThingSpace). Carbon-compliance demand, anchored by NYC Local Law 97, is a primary demand driver.
Runwise has raised approximately $79 million across multiple rounds, including a $19M Series A led by Fifth Wall (November 2022), an $11M seed led by Initialized Capital / Susa Ventures / Notation Capital (November 2023), and a $55M Series B led by Menlo Ventures (June 2025). The company was founded in 2015, employs 101-250 people, and is led by co-founder and CEO Jeffrey Carleton with co-founders Michael Cook (Chief Growth Officer) and Lee Hoffman (President).
Runwise firmographics
Firmographics- Name
- Runwise
- Legal name
- Runwise Inc.
- Website
- https://runwise.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Runwise operates a wireless smart-control platform that automates heating, cooling, gas-leak, and water-leak management for multifamily, commercial, and government buildings. The company serves 1,000+ building-owner and property-management customers across 10,300+ North American buildings via one-time hardware fees and recurring subscriptions.
- Ownership category
- akta.pro rank
Runwise industry classification
Industry- Product category
- Building Energy Management Software
- NAICS
- Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use (334512)
- SIC
- Auto Controls For Regulating Residential & Comml Environments (3822), Industrial Instruments For Measurement, Display, And Control (3823)
- akta.pro primary industry
- Smart Building Software Platforms (IWMS/CAFM Integration, Digital Twin, Command Center) (BPABAGAG)
- akta.pro secondary industries
- Smart HVAC, IAQ & Energy Optimization (HSAPAPAB), Smart HVAC Monitoring, Diagnostics & Predictive Maintenance (HSAOANAC), Smart Climate & Air Quality (Thermostats, HVAC, Purifiers, IAQ Sensors) (HSAPAQAD)
Keywords
Where Runwise is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Runwise business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Supply Chain, Marketing or Sales, Operations, Infrastructure
Revenue model
- Hardware and Installation Fee: One-time upfront payment for hardware and installation of the Runwise System. Price set per Order Form, payable prior to installation.
- Annual Subscription Fee: Annual subscription for ongoing Services including monitoring, control, 24/7 support, live training, dedicated building systems expert, and technician service. Initial Period Price paid within 30 days of Installation Date, then auto-renewed for Renewal Periods at adjustable pricing.
- Verizon ThingSpace Partnership: Partnership with Verizon using their Mobile Private Network and ThingSpace IoT platform for connectivity, enabling scalable deployment across North America.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Hardware and Installation Fee (One-time) |
| Subscription | Annual | Annual Subscription for Services |
| Subscription | Monthly | Zero Upfront Cost Option |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels6 records
Runwise product offering
Product offeringCore offering
Runwise combines proprietary wireless hardware (sensors, control units) with cloud-based software to deliver a single control platform that automates and optimizes building heating, cooling, water, and gas systems. The platform powers Smart Heating Control, Smart Cooling Control, Smart Gas Leak Detection, and Smart Toilet Monitoring for multifamily residential and commercial buildings, with 24/7 monitoring, real-time alerts, and open APIs for integration.
Product overview
Runwise is a smart operating system for buildings that combines wireless hardware with cloud-based software to automate and optimize building infrastructure. The platform consists of a single control computer and wireless sensor network that powers multiple services including Smart Heating Control (boiler/steam optimization), Smart Cooling Control (chiller management), Smart Gas Leak Detection, and Smart Toilet Monitoring (water leak detection). Buildings generate average first-month profit of $1,725 with the platform installed.
Differentiator
Problem solved
Functional benefit
Products and services
- Smart Heating Control Wireless control system that optimizes boiler or city steam systems for improved efficiency, safety, and management using indoor sensors and weather forecasting; reduces heating costs by approximately 21% for building owners and property managers.
- Smart Cooling Control Control system for chillers and cooling towers that prevents critical failures in seconds and reduces cooling costs by approximately 17% for building owners and property managers.
- Smart Gas Leak Detection Natural gas detection system with real-time alerts sent directly to building management, preventing undetected leaks and avoiding lengthy gas shut-off restoration processes for building owners and managers.
- Smart Toilet Monitoring Wireless sensor system that detects running toilets instantly by monitoring water flow, alerting management to leaks before they hit water bills, with typical water bill reductions of 22%.
Quantifiable outcome
- 21% average reduction in heating fuel costs
- +9 more outcomes
Companies that use Runwise
Customer profileNamed customers12 records
Segments4 records
Ideal customer profiles4 records
Runwise technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability3 records
Feature6 records
Runwise partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- VerizoncoreVerizon partnership using Mobile Private Network and ThingSpace IoT platform to solve connectivity challenges in aging building infrastructure. Enables real-time sensor data transmission from difficult locations like basements, scaling deployments to over 10,000 buildings.
- Con EdisoncoreCon Edison offers rebates covering nearly 100% of hardware and installation costs for Runwise installations. Recognized Runwise as Top Multifamily Contractor of The Year. Major utility partner driving customer acquisition in NYC market.
- National GridcoreNational Grid provides utility rebates for smart heating controls and building efficiency upgrades. Partnered with Runwise to deliver energy-saving solutions to buildings across the Northeast.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Runwise competitors and assessment
Company assessmentDirect peers
- BrainBox AI: BrainBox AI applies AI to building HVAC optimization, providing autonomous heating and cooling control for commercial real estate. Competes with Runwise in the same customer segment with a similar software-first, AI-driven energy savings pitch.
- Switch Automation: Switch Automation provides a smart building software platform aggregating data from HVAC, lighting, and sensors across portfolios. Comparable to Runwise's cloud dashboard and open API approach, targeting the same property manager personas.
- 71point4: 71point4 (formerly Radiator Labs) is a NYC-based direct competitor that builds wireless steam heating controls for multifamily buildings. Highly comparable given identical target customer (NYC building owners), similar wireless installation approach, and overlapping LL97 value proposition.
- 75F: 75F is a smart building controls company offering wireless IoT sensors and cloud-based HVAC optimization for commercial buildings. Directly competes with Runwise in providing predictive HVAC control, zone-level monitoring, and energy savings for mid-market commercial portfolios.
- Budderfly: Budderfly offers Energy-as-a-Service for commercial buildings, providing hardware, installation, and ongoing optimization at zero upfront cost. Closely mirrors Runwise's go-to-market, zero-upfront-cost, and utility-rebate-driven customer acquisition model.
Broad incumbents
- GridPoint: GridPoint is a more established energy management and building intelligence platform serving multi-site commercial customers. Overlaps with Runwise on energy monitoring, building controls, and utility-driven efficiency programs, but operates at a broader portfolio scale.
- Honeywell Building Technologies: Honeywell offers a broad portfolio of building automation systems, HVAC controls, and energy management software. Competes with Runwise primarily through incumbent installed-base relationships and bundled offerings for large property managers and enterprise customers.
- Johnson Controls: Johnson Controls is a global incumbent in building automation, HVAC controls (including their smart thermostats), and integrated building management platforms. Targets many of the same enterprise property managers and is a key competitor for large commercial retrofit projects.
Emerging players
- ecobee: ecobee (now owned by Generac) provides smart thermostats and home energy management with partial commercial/multifamily applicability. Overlaps with Runwise on smart HVAC control and energy savings, but with a consumer-first product rather than building-management platform focus.
- Enverid: Enverid provides HVAC indoor air quality solutions and smart ventilation control for commercial buildings. Adjacent peer that overlaps with Runwise on HVAC optimization and IAQ, though with a different technology focus (air cleaning vs. wireless control).
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Runwise social profiles
Digital presenceRunwise financial estimates
Financial estimateRevenue estimate
Valuation estimate
Runwise leadership team
Management profileNumber of profiles
Profiles3 records
Runwise funding detail
Funding detailFunding overview
Funding rounds7 records
Investors24 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Runwise M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Runwise
What does Runwise do?
Runwise combines proprietary wireless hardware (sensors, control units) with cloud-based software to deliver a single control platform that automates and optimizes building heating, cooling, water, and gas systems. The platform powers Smart Heating Control, Smart Cooling Control, Smart Gas Leak Detection, and Smart Toilet Monitoring for multifamily residential and commercial buildings, with 24/7 monitoring, real-time alerts, and open APIs for integration.
Is Runwise a public or private company?
Runwise is a private company. It is classified as venture growth investor backed and is currently operating.
When was Runwise founded?
Runwise was founded in 2015. It employs 101 to 250 people.
Where is Runwise based?
Runwise is headquartered in New York, United States, in the North America region.
How does Runwise make money?
Three revenue lines are on record. Hardware and Installation Fee is the primary driver. The others are annual Subscription Fee and verizon ThingSpace Partnership.
Who are Runwise's main competitors?
Direct peers on record are BrainBox AI, Switch Automation, 71point4, 75F and Budderfly. Broad incumbents are GridPoint, Honeywell Building Technologies and Johnson Controls. Emerging players are ecobee and Enverid.
Does Runwise have an API?
Yes. Runwise is built on open APIs. The platform is completely open and accessible with open APIs, allowing users to connect, download, change, or interact with any aspect of the Runwise system with other software or customer technology. They have dozens of integrations with other software systems and hundreds of custom integrations that building owners have built themselves. No public API documentation URL or SDK explicitly mentioned.
What industry is Runwise in?
Runwise's product category is Building Energy Management Software. Its primary akta.pro industry code is BPABAGAG, Smart Building Software Platforms (IWMS/CAFM Integration, Digital Twin, Command Center), with a secondary code of HSAPAPAB, Smart HVAC, IAQ & Energy Optimization. Its NAICS code is 334512 and its SIC code is 3822.