Today, dear readers, we speak of Rent The Runway as an exemplar for changing conditions in the world of financing and venture capital. Today RTR announced they had closed a $125,000,000 VC round led by Franklin Templeton Investments and Bain Capital Ventures.
This brings the total of VC funding (they also have $200,000,000 in debt) to $337,000,000 based on a valuation of $1,000,000,000.
Wow! RTR has come a long way since its 2009 funding by Bain of $1,800,000.
RTR has been working for ten years to become an overnight success. Some whisper RTR is being groomed for an Initial Public Offering, something they spoke of in the past, but not recently.