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March 11, 2013 05:00 pm GMT

AmEx, Conde Nast Back The Netflix For Designer Clothes, Rent The Runway

rent-the-runway-luxury-designer-dress-rentals-plus-jewelry-purses-and-moreBack in November, we wrote that Rent The Runway, a Netflix for designer clothes, accessories and jewelry, had raised $20 million in funding led by Cond Nast Publications, with Bain Capital Ventures, Highland Capital Partners and Kleiner Perkins Caufield & Byers participating. The company is announcing an additional $4.4 million in new funding from new investor American Express, Advance Publications (the parent company of Cond Nast) and Novel TMT Ventures. This brings the company's total funding to $54 million.

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