[Techtaffy Newsdesk]

Rent the Runway, an online destination for dress and accessory rentals, has received a $20 million investment with all existing investors participating in the fundraising round including Advance, parent company of Conde Nast, Bain Capital Ventures, Highland Capital Partners and Kleiner Perkins Caufield & Byers.

Prior to the $20 million investment, Rent the Runway had raised more than $31 million in venture capital.

Rent the Runway currently has over 3 million members 170+ designer brands, and recently introduced an online social shopping platform – Our Runway – which allows women to shop based on user-generated photos of real women with their similar body type.