Jessica Alba’s ecommerce venture The Honest Company has closed a USD 25 million funding round, led by the existing investors Institutional Venture Partners. Other investors involved include Iconiq Capital, Lightspeed Venture Partners and General Catalyst Partners
This brings the start-up’s total financing to USD 52 million in less than two years.
According to the company, a part of the funding will be used to accelerate the overall growth, including international expansion outside the U.S. It will also focus on adding new products and will continue building out the range of items it offers. Earlier this year, the startup launched its services in Canada.
“We created The Honest Company 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, CEO and Co-Founder, The Honest Company.
Co-founded by serial entrepreneur Brian Lee and actress Jessica Alba in 2011, The Honest Company is an ecommerce platform that offers natural, non-toxic products such as diapers, skin care, cleaning and other products. The idea is to provide its consumers have access to non-toxic and eco friendly family products.
Apart from instant checkout feature, the portal works on a subscription based model. The startup also donates a percentage of its sales to Baby2Baby.org – a not for profit organisation which supplies families in need with essential baby gear and clothing for their children up to age 12.
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