The Honest Company, which was co-founded by the actress Jessica Alba and which sells eco-friendly natural, non-toxic products online, has raised a $70 million funding round that was led by funds associated with Wellington Management Company. Existing investors Lightspeed Venture Partners, Institutional Venture Partners, General Catalyst Partners and ICONIQ Capital also participated. Los Angeles-based The Honest Company had previously raised $52 million, including a $25 million round in November.
Photo: Jessica Alba poses at a press line for “Sin City: A Dame to Kill For” during the 2014 Comic-Con International Convention in San Diego, Calif., July 26, 2014. REUTERS/Mario Anzuoni
The Honest Company Closes $70 Million Investment Round to Accelerate Growth
Round Led by Public Company Institutional Investors
LOS ANGELES, California (August 27, 2014) — The Honest Company, Inc. (www.honest.com), a premium family brand providing a broad portfolio of natural, non-toxic products, today announced the closing of a $70 million financing round. Funds affiliated with Wellington Management Company LLP led the round and were joined by other leading public market institutional investors. Existing investors Lightspeed Venture Partners, Institutional Venture Partners, General Catalyst Partners and ICONIQ Capital also participated. The new round of financing adds to the $52 million raised since the company’s launch in 2012 and will enable the company to accelerate growth as it continues to build a leading global brand.
“The Honest Company provides families everywhere with safe, convenient and affordable family essentials. This funding will enable us to expand our current category offerings and availability, and develop products across many new and exciting categories,” said Brian Lee, The Honest Company Co-Founder and CEO.
The Honest Company provides award-winning, non-toxic family essentials, including bath/skin care, household cleaning, supplements, oral care, baby products and exclusive designer collaboration items, available online and at retail partners across the United States and Canada. The Honest Company also supports non-profit partnerships by donating products and employee time. To date, over a half million Honest products have been donated to assist more than 50,000 families through more than 1,300 employee volunteer hours.
“We value the support of our partners and customers in helping us make a meaningful impact in the marketplace. We dream big at The Honest Company and continuously strive to make the world healthier and more sustainable – today and in the future,” said The Honest Company Co-Founder, Jessica Alba.
Goldman Sachs served as sole placement agent to the company on the financing.
For more information on The Honest Company please visit www.honest.com
About The Honest Company
The Honest Company (www.Honest.com), founded by Jessica Alba, Christopher Gavigan, Brian Lee and Sean Kane, was created to ensure that parents have access to non-toxic, eco-friendly, effective and beautiful family products that don’t break the bank. Honest.com offers essentials for every family member including diapers, wipes, bath, skin care, home cleaning and health and wellness products conveniently door-delivered through a monthly subscription service of customized product bundles or single item purchases. Honest products are also available at select retail outlets. As a certified B Corporation, The Honest Company strives to promote sustainability, engage employees and community and support non-profit initiatives working to solve critical health and social issues affecting children and families. Available in the U.S. and Canada.