Rent the Runway Raises $24.4 Million

“The business is continuing to expand very quickly,” Rent the Runway co-founder and CEO Jennifer Hyman told WWD, where the news was first reported, indicating that the company would invest the new funding “in people, marketing and scaling our operation to make sure we are delivering incredible customer experiences.”

“Over the next year, we have plans to expand our showrooms,” she added, referring to real-world retail locations where consumers can try on outfits and get advice from Rent the Runway style advisors..