How Much Did Rent the Runway Raise? Headquarters, Funding & Key Investors

Rent the Runway has raised $326 million across multiple rounds, including a significant $125 million Series F round in 2019, which pushed its valuation to $1 billion. Earlier funding included a $60 million Series E round led by Fidelity and $200 million in debt financing from Temasek Holdings to strengthen operations. Its Series G round in October 2020, backed by Ares Management, further enhanced liquidity and long-term growth stability. Additional secondary transactions provided investor liquidity over the years. Collectively, these rounds position Rent the Runway as one of the most funded consumer platforms in fashion tech.

How Much Did Rent the Runway Raise? Funding & Key Investors

Rent the Runway is an online fashion rental platform offering designer clothing and accessories on subscription and on-demand models. Users can rent apparel, handbags, jewelry, sunglasses, and special-occasion outfits through its web and mobile platforms.

It partners with hundreds of fashion brands, enabling a sustainable alternative to traditional retail, while making luxury fashion more accessible. The platform provides curated collections, doorstep delivery, dry cleaning, and flexible rental options for members.

What Is Rent the Runway and What Does It Do?

Rent the Runway, founded in 2009 by Jennifer Hyman and Jennifer Fleiss, is headquartered in New York City, United States. The company operates an online rental platform offering a wide range of multi-category fashion products, including dresses, activewear, jewelry, handbags, and more, through both subscription and one-time rentals.

Its mobile app and online platform streamline rental selection, booking, delivery, and returns while offering access to designer brands at a fraction of purchase cost.

Rent the Runway employs 850 people, with a focus on sustainability, circular fashion, and expanding its subscription-based rental ecosystem.

How Much Funding Has Rent the Runway Raised?

1. Series E

Amount Raised: $60M
Date: December 2016
Lead Investors: Fidelity
Motivation: To expand the subscription service and enhance technology infrastructure.

2. Venture Round

Amount Raised: $20M
Date: March 2018
Lead Investors: Blue Pool Capital
Motivation: To scale operations and expand market reach.

3. Debt Financing

Amount Raised: $200M
Date: August 2018
Lead Investors: Temasek Holdings
Motivation: To support business growth and operational expenses.

4. Series F

Amount Raised: $125M
Date: March 2019
Lead Investors: Bain Capital Ventures, Franklin Templeton
Motivation: To scale the subscription business and expand product offerings.

5. Venture Round

Amount Raised: $5M
Date: June 2020
Lead Investors: SuRo Capital
Motivation: Business continuity during COVID-19.

6. Series G

Amount Raised: $100M
Date: October 2020
Lead Investors: Ares Management
Motivation: Strengthen financial stability and long-term growth.

Total Funding Raised: $326 Million

Current Valuation: $1 Billion (as of 2019)

Latest Funding Date: October 2020

Key Investors

1. Ares Management

Details: A global alternative investment manager active across credit, private equity, and real estate.
Investment Focus Areas: Credit, private equity, real estate.
Notable Investments: Neiman Marcus, Guitar Center, McGraw-Hill Education.

2. SuRo Capital

Details: A publicly traded venture capital firm investing in high-growth private companies.
Investment Focus Areas: Technology, education, financial services.
Notable Investments: Coursera, Palantir Technologies, Spotify.

3. Bain Capital Ventures

Details: VC arm of Bain Capital focusing on early- and growth-stage companies.
Investment Focus Areas: Software, fintech, healthcare, commerce.
Notable Investments: LinkedIn, DocuSign, SurveyMonkey.

4. Temasek Holdings

Details: A global investment company owned by the Singapore government.
Investment Focus Areas: Financial services, telecommunications, media, and technology.
Notable Investments: Alibaba Group, Singapore Airlines, DBS Bank.

Where Is Rent the Runway’s Headquarters?

Rent the Runway is headquartered in New York City, United States a strategic location for fashion partnerships, logistics networks, and access to global retail markets.

What’s Next for Rent the Runway?

Rent the Runway is expanding beyond fashion rental into adjacent categories, including home décor and lifestyle products. The company is focused on increasing subscription retention, optimizing logistics, and deepening brand partnerships. With sustainable fashion gaining global momentum, Rent the Runway aims to scale its rental ecosystem while expanding into international markets and enhancing operational efficiency.

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