Jessica Alba’s e-commerce brand Honest Co. raises $25 million
Honest Co., Jessica Alba’s eco-friendly baby products line, announced Monday that it has raised $25 million. That brings the start-up’s total financing to $52 million in less than two years.
The Santa Monica e-commerce brand said it would use the money to accelerate its growth, including international expansion, new product development and enhanced distribution capabilities.
“We created the Honest Co. with the dream to one day provide natural, affordable products to families everywhere. We appreciate the continued support from our investors as it will help us get one step closer,” said Brian Lee, Honest Co.'s co-founder and chief executive.
The latest financing round was led by Institutional Venture Partners and joined by Iconiq Capital with participation from existing investors Lightspeed Venture Partners and General Catalyst Partners.
Honest Co. has seen double-digit monthly growth since launching in January 2012. It was co-founded by Lee and Alba, who serves as company president, and sells nontoxic products including skin care, household cleaners and diapers. Merchandise is available online and at retail partners around the U.S.
The company also runs a blog that provides tips and resources for families.