The Honest Company, Inc., a Los Angeles, CA-based family brand providing a broad portfolio of natural, non-toxic products, closed a $70m financing round.
The round was led by funds affiliated with Wellington Management Company LLP with participation from Dragoneer Investment Group and one other public market institutional investor and existing investors Lightspeed Venture Partners, Institutional Venture Partners, General Catalyst Partners and ICONIQ Capital.
The company, which had previously raised the $52m, intends to use the funds to expand operations and develop products across many new and exciting categories.
Co-founded by Brian Lee, CEO, Jessica Alba, Christopher Gavigan, and Sean Kane, The Honest Company provides 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 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.