The Honest Company (honest.com), actress Jessica Alba’s online organic baby products company, just got a big boost, in the form of $27 million in investor funding for future growth. The “Series A financing,” the type typically reserved for start-ups that have yet to turn a profit, is being offered by General Catalyst, Lightspeed Venture Partners and Institutional Venture Partners (IVP), all companies specialized in funding internet ventures.
Alba co-founded The Honest Company with Christopher Gavigan, former CEO of Healthy Child Healthy World, a nonprofit that informs parents of toxic risks to their children in every day products. The mission of The Honest Company is to provide healthy, organic baby products made from sustainable resources. The funding, it says, will enable it to expand its product line and visibility in the growing natural baby product market.
The online retailer delivers monthly supplies of eco-friendly diapers and baby care products to customers’ homes. The Honest Company’s attractive website allows customers to personalize their orders based on their baby’s gender, and their own personal taste and values. All products are guaranteed to be allergen-free, made from organic, sustainable, plant-based materials, and not tested on animals.
Surely Alba’s star power contributed to The Honest Company securing $27 million in investor funding. But if the website is telling the “honest” truth, Alba and her partner have hit on an idea that will resonate with leagues of parents concerned about the health and safety not just of their babies, but the planet, as well.
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