The Honest Company, a multi-channel family brand providing natural, non-toxic products, has secured a $25 million financing led by Institutional Venture Partners (IVP), and joined by ICONIQ Capital, with participation from existing investors Lightspeed Venture Partners and General Catalyst Partners. The new round of funding adds to $27 million raised previously and will accelerate growth initiatives including international expansion, new product development and innovation, enhanced distribution capabilities, and greater accessibility to the brand says the company.
“The overwhelmingly positive response to both our recent launch in Canada and the availability of Honest products from our retail partners is a testament to the vast unmet global need for safe everyday family products. This new round of funding will provide essential resources for us to continuously expand our suite of products and bring them to households around the world,” says The Honest Company CEO and co-founder Brian Lee. “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.”
Experiencing double digit monthly growth since its launch in January 2012, The Honest Company provides award-winning non-toxic family essentials including bath/skin care, household cleaning, supplements, oral care and baby products available online and at retail partners across the U.S. The company also operates an award-winning blog that provides daily tips and resources for families, personalized customer service and non-profit partnerships that have aided more than 30,000 families with donations of product and time since The Honest Company’s inception.
“Our mission at The Honest Company is to provide healthier, more sustainable products for today’s families and generations to come. We are excited to work with supportive partners that share the same vision and look forward to continued growth and reach,” says The Honest Company president and co-founder Jessica Alba.
“Since the first time the founders shared their vision of a healthier world for families with us several years ago, IVP has been honored to join them in making their vision a reality,” says Eric Liaw, principal of IVP. “We are incredibly thrilled to extend our partnership with The Honest Company as they passionately pursue their goal of making our homes safer for our children.”
The Honest Company was founded by Jessica Alba, Christopher Gavigan, Brian Lee and Sean Kane, and offers an array of products for families including diapers, wipes, bath, skin care, home cleaning and health and wellness products door-delivered through a monthly subscription service of customized product bundles or single item purchases.