Fashion e-commerce powerhouse Rent the Runway has confirmed that it raised $60 million in a funding round led by Fidelity Investments. Technology Crossover Ventures, Bain Capital Ventures, Highland Capital Partners and Advance Publications are also participating in the round.
Recode, which first reported the news, was told that the valuation was a “significant step up” from the $520 million the company raised at in 2014. CEO Jennifer Hyman told the publication that Rent the Runway was valued the way public companies are valued, possibly hinting at IPO goals.
