The Honest Company Raises $25 Million in Financing to Accelerate Growth and International ExpansionBack
New Financing Round Led By Institutional Venture Partners Brings Total Funding to $52 Million Since Launch in January 2012
LOS ANGELES, California (November 11, 2013) — Today, The Honest Company (www.Honest.com), a premier multi-channel family brand providing natural, non-toxic products, announced 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.
“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,” said 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 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 conveniently available online and at retail partners across the United States. The company takes pride in social goodness with an award-winning blog dedicated to providing daily tips and resources for families, highly-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,” said 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.”
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 & wellness products conveniently door-delivered through a monthly subscription service of customized product bundles or single item purchase. 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.
About Institutional Venture Partners (IVP)
With $4 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. Founded in 1980, IVP has invested in over 300 companies, 96 of which have gone public. IVP is one of the top-performing firms in the industry and has a 32-year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. Since its inception, IVP investments include such notable companies as ArcSight (HPQ), Buddy Media (CRM), ComScore (SCOR), Concur Technologies (CNQR), Dropbox, Fleetmatics (FLTX), HomeAway (AWAY), Juniper Networks (JNPR), Kayak (KYAK), LegalZoom, LifeLock (LOCK), Marketo (MKTO), MySQL (ORCL), Netflix (NFLX), Polycom (PLCM), RetailMeNot (SALE), Seagate (STX), Shazam, Supercell, Synchronoss (SNCR), Tivo (TIVO), Twitter (TWTR), and Zynga (ZNGA). For more information, visit http://ivp.com or follow IVP on Twitter: @ivp.
About ICONIQ Capital
ICONIQ Capital is a global multi-family office and merchant bank for a group of influential families.