General Catalyst Leads $27M Round in Jessica Alba's The Honest Company
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Posted March 25, 2012
Jessica Alba
CAMBRIDGE -- The Honest Company, a provider of non-toxic and natural baby and family products online, has completed its $27 million Series A financing, led by General Catalyst, Lightspeed Venture Partners and Institutional Venture Partners (IVP). The funding will allow the company to accelerate growth and deeper development of their safer and eco-friendly products, as well as to further establish its brand as the most effective, affordable and authentic choice for today's families.
"The overwhelmingly positive response we have received since our recent launch has shown us we need to continue dedicating time and resources to further develop our Honest brand and community," said President of The Honest Company, Jessica Alba. "The new funding confirms our positioning and acknowledges the big need for a brand and servi! ce to de liver pure, healthy products that are delightful, effective and beautiful."
"We are truly encouraged by the depth of knowledge the Honest team embodies for creating a brand that truly resonates with consumers everywhere. This funding will help drive brand innovation and ground-breaking research to ensure the best non-toxic products for babies and families," said Neil Sequeira, Managing Director of General Catalyst.
The Honest Company offers monthly subscriptions of baby and family products, like diapers, wipes and bath / skin care - all delivered to members' front doors. The Honest Company also formulates and manufactures household cleaning products, such as laundry detergent, surface cleaners and dish soap, all meticulously crafted in the USA.
"The Honest Company is breaking new ground on building social commerce connectivity and awareness with consumers through the use of our creative brand strategies. We are very excited to expand our brand to a market that is seeking a modern and fresh approach," said Brian Lee, CEO of The Honest Company.
"I have two young kids, three-and-a-half and six-months old. When Brian and Jessica told me what they were doing, creating natural, non-toxic, family products, I immediately understood the opportunity. All parents want the best, safest products for their kids," said Jeremy Liew, Managing Director of Lightspeed Venture Partners.
"To its core, The Honest Company is mission driven - a mission that believes that our children deserve better, healthier, and more sustainable lives, and we are excited to be a helping The Honest Company fulfill this promise," said Dennis Phelps, General Partner of IVP.
About The Honest CompanyThe Honest Company (www.Honest.com), helmed by Jessica Alba, Christopher Gavigan, Brian Lee, and Sean Kane, was created to ensure that parents have access to non-toxic, ecofriendly, beautiful family products that don! 't break the bank. The Honest Company offers a monthly subscription service, through Honest.com, of customized product bundles including diapers, wipes, baby bath, skin care, and home cleaning products delivered directly to customer's front doors. A percentage of sales is donated to Baby2Baby.org.
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