About Rent the Runway
Rent the Runway is a company based in New York (United States) founded in 2009 by Jennifer Fleiss.. Rent the Runway has raised $326.35 million across 12 funding rounds from investors including Fidelity Investments, Ares Management and Kleiner Perkins. The company has 850 employees as of December 31, 2023. Rent the Runway has completed 1 acquisition, including Go Try It On. Rent the Runway offers products and services including Clothing Subscription and Delivery and Return Service.
- Headquarter New York, United States
- Employees 850 as on 31 Dec, 2023
- Founders Jennifer Fleiss
- Stage Public
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Sectors
Retail
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
$306.2 M3as on Jan 31, 2025
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Net Profit
$-69.9 M38as on Jan 31, 2025
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EBITDA
$60 M380as on Jan 31, 2025
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Total Equity Funding
$326.35 M (USD)
in 12 rounds
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Latest Funding Round
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Investors
Fidelity Investments
& 13 more
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Employee Count
850
as on Dec 31, 2023
- Investments & Acquisitions
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IPO & Listings of Rent the Runway
Rent the Runway is a publicly listed company on the NASDAQ with ticker symbol RENT in USA, operating in the Retail trade sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Rent the Runway
Rent the Runway offers a comprehensive portfolio of products and services, including Clothing Subscription and Delivery and Return Service. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Subscription for accessing designer clothes with delivery options.
Handles free delivery and easy returns of rented items.
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Funding Insights of Rent the Runway
Rent the Runway has successfully raised a total of $326.35M across 12 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 12
- Last Round Last Round
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First Round
First Round
(15 Jul 2009)
- Investors Count 14
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2020 | Amount | Series E - Rent the Runway | Valuation | Ares Management |
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| Oct, 2020 | Amount | Debt – Conventional - Rent the Runway | Valuation |
investors |
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| Mar, 2019 | Amount | Series E - Rent the Runway | Valuation | Franklin Templeton Investments , Bain Capital Ventures |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Rent the Runway
Rent the Runway has secured backing from 14 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Fidelity Investments, Ares Management and Kleiner Perkins. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Alternative asset investment management firm
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Founded Year | Domain | Location | |
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Venture capital fund focused on investing in multiple sectors
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Founded Year | Domain | Location | |
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An investment platform is provided for diverse sectors and geographies.
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Rent the Runway
Rent the Runway has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Go Try It On. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Social platform for fashion and beauty enthusiasts is operated.
|
2010 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
|
2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 |
Financial Statements - Rent the Runway
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Rent The Runway Comparisons
Competitors of Rent the Runway
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Rent The Runway
Frequently Asked Questions about Rent the Runway
When was Rent the Runway founded?
Rent the Runway was founded in 2009.
Where is Rent the Runway located?
Rent the Runway is headquartered in New York, United States. It is registered at New York, New York, United States.
Is Rent the Runway a funded company?
Rent the Runway is a funded company, having raised a total of $326.35M across 12 funding rounds to date. The company's 1st funding round was a Series E of $125M, raised on Jul 15, 2009.
How many employees does Rent the Runway have?
As of Dec 31, 2023, the latest employee count at Rent the Runway is 850.
What is the annual revenue of Rent the Runway?
Annual revenue of Rent the Runway is $306.2M as on Jan 31, 2025.
What does Rent the Runway do?
The company was founded in 2009 in New York, United States, with Jennifer Fleiss as co-founder. Operations center on an online rental platform in the fashion sector, where items such as shirts, pants, shorts, skirts, dresses, wedding wear, activewear, jewelry, handbags, and sunglasses are provided for subscription-based access. A mobile application is supported on iOS for user convenience.
What products or services does Rent the Runway offer?
Rent the Runway offers Clothing Subscription and Delivery and Return Service.
Is Rent the Runway publicly traded?
Yes, Rent the Runway is publicly traded on NASDAQ under the ticker symbol RENT.
How many acquisitions has Rent the Runway made?
Rent the Runway has made 1 acquisition, including Go Try It On.
Who are Rent the Runway's investors?
Rent the Runway has 14 investors. Key investors include Fidelity Investments, Ares Management, Kleiner Perkins, Conde Nast, and Franklin Templeton.
What is Rent the Runway's ticker symbol?
The ticker symbol of Rent the Runway is RENT on NASDAQ.
What is Rent the Runway's valuation?
The valuation of Rent the Runway is $1B as of Mar 2019.