Fortune Term Sheet — Friday, March 22
Billion Dollar Status
Rent the Runway reached “unicorn” status yesterday, meaning the company is now valued at more than $1 billion. The online clothing rental service raised $125 million in venture funding from investors including Franklin Templeton Investments, Bain Capital Ventures, and T. Rowe Price.
The news comes days after Glossier, a direct-to-consumer beauty brand, also raised a mega-round of $100 million at a $1.2 billion valuation. Both Rent the Runway and Glossier are women-led and both serve female customers…
Private Equity Deals
Hunt Valve Co., which is backed by May River Capital, acquired Montreal Bronze Ltd, a supplier of bronze marine valves. Financial terms weren’t disclosed.
• Energy Impact Partners invested in Attivo Networks, a provider of detection, forensics, and automated incident response to in-network attacks. Additional investors include Bain Capital, ForgePoint Capital, and Singtel Innov8. Financial terms weren’t disclosed.