The Advance Publications-backed clothing rental service is now valued at $1bn, having received $125m from a consortium co-led by Franklin Templeton Investments and Bain Capital Ventures.
Rent the Runway, a US-based fashion leasing platform backed by media group Advance Publications, secured $125m in funding yesterday at a $1bn valuation.
The round was co-led by investment firm Franklin Templeton Investments and Bain Capital Ventures, part of private equity firm Bain Capital. It included certain funds and accounts advised by T. Rowe Price Associates and Hamilton Lane Advisors, which invested on behalf of the New York State Common Retirement Fund.
Founded in 2009, Rent the Runway runs an…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
