Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>In June 2025, Runwise raised a $55 million Series B led by Menlo Ventures, with participation from MassMutual Ventures, Nuveen Real Estate, Multiplier Capital, and Munich Re Ventures, alongside existing investors including Fifth Wall.</li><li>The system installs in as little as one day without requiring new wiring, making it ideal for retrofitting older buildings.</li><li>Runwise operates a B2B subscription model providing Building Controls-as-a-Service.</li></ul>

In June 2025, Runwise raised a $55 million Series B led by Menlo Ventures, with participation from MassMutual Ventures, Nuveen Real Estate, Multiplier Capital, and Munich Re Ventures, alongside existing investors including Fifth Wall.The system installs in as little as one day without requiring new wiring, making it ideal for retrofitting older buildings.Runwise operates a B2B subscription model providing Building Controls-as-a-Service.

<ul><li>Despite billions flowing into ESG and climate tech startups during 2020-2021, most have failed to gain traction because they don’t deliver tangible financial and operational savings to owners &amp; operators of real estate.</li><li>Building-control incumbents—Honeywell, Johnson Controls, Siemens—still ship mostly hardware with thin software layers and sell through HVAC middlemen, while a new wave of vertically integrated platforms such as Runwise go direct to owners.</li><li>We&#39;ve created a way of putting a modern operating system - a new brain - into buildings that&#39;s 20-30 times cheaper than what historically existed because we do it completely wirelessly.</li></ul>

Despite billions flowing into ESG and climate tech startups during 2020-2021, most have failed to gain traction because they don’t deliver tangible financial and operational savings to owners &amp; operators of real estate.Building-control incumbents—Honeywell, Johnson Controls, Siemens—still ship mostly hardware with thin software layers and sell through HVAC middlemen, while a new wave of vertically integrated platforms such as Runwise go direct to owners.We&#39;ve created a way of putting a modern operating system - a new brain - into buildings that&#39;s 20-30 times cheaper than what historically existed because we do it completely wirelessly.

Lee Hoffman, co-founder Of Runwise, On The Operating System For Buildings

United States

Sensor-based platform to monitor and optimize building heating systems

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Runwise (RUNWISE US)

Primer: Runwise - 14 Dec 2025

Sensor-based platform to monitor and optimize building heating systems

Sacra

Lee Hoffman, co-founder Of Runwise, On The Operating System For Buildings

In short, what is Runwise...

Sacra

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