Term Sheet — Friday, March 22

Mar 22, 2019 - Fortune

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...