TechTaffy

tech:

taffy

Rent The Runway Raises $20 Million

By TechTaffy Desk

[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.

 

Just in

Series E

Vercel raises $250M

San Francisco-based Vercel, a frontend cloud platform provider, has secured $250 million in Series E funding, bringing the company's valuation to $3.25 billion.
Series A

Worky raises $6M (Mexico)

Mexico City-based Worky, a provider of HR and payroll software solutions for Mexican companies, has closed a $6 million Series A financing round.
Industry

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.
Around the web

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 
AI

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services.