Jessica Alba is not only a busy mother, wife, actress, but she is also the founder of a successful eco-friendly family-oriented products called The Honest Company. The subscription ecommerce company which sells products such as diapers, skin care and cleaning products has closed a $25 million funding round, led by Institutional Venture Partners, and joined by Iconiq Capital.
According to Reuters, the Los Angeles-based company will use the funds for international expansion, product development, increasing distribution capabilities and work on making the brand more accessible, which could include increasing partnerships with retailers.
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 company said in a statement.
"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."
"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.
