Rent the Runway, a NYC-based online destination for designer dress and accessory rentals, raised an additional funding, bringing the total Series C amount to $24.4m.
American Express and Novel TMT Ventures joined Advance Publications, Inc., parent company of Conde Nast, Bain Capital Ventures, Highland Capital Partners and Kleiner Perkins Caufield & Byers (read here).
The company intends to use the capital to continue hiring executives (read here), and expand its marketing and inventory efforts.
Led Jennifer Hyman , CEO and co-founder of Rent the Runway is an online platform for designer dress and accessory rentals. It has a roster of over 170 top designers, 35,000 dresses, and 7,000 accessories.