Rent the Runway co-founder Jennifer Hyman will step down as CEO, president and board member effective May 15, 2026. Former Nordstrom chief merchant Teri Bariquit will serve as interim CEO and president.
Rent the Runway raises $125 million in a round co-led by Franklin Templeton Investments and Bain Capital Ventures. The financing values the company at $1 billion and brings its total venture funding to $337 million.
Rent the Runway closes a $60 million Series E funding round led by Fidelity Management and Research Company. TCV, Bain Capital Ventures, Highland Capital Partners, and Advance Publications also participate.
Rent the Runway raises $20 million in a round led by Condé Nast Publications, with Bain Capital Ventures, Highland Capital Partners, and Kleiner Perkins also participating. The financing brings the company’s total venture funding to more than $51 million.
