Actress turned entrepreneur Jessica Alba earned $25 million for her clean-living startup, The Honest Company - a subscription ecommerce startup, TechCrunch reported.
Institutional Venture Partners led the funding round for the company, which sells eco-friendly, non-toxic family-oriented products such as diapers, skin care and cleaning products. Existing investors Lightspeed Venture Partners and General Catalyst Partners also participated in the fund raising. The Honest Company has pulled in some $52 million in funding to date.
"Our mission at The Honest Company is to provide healthier, more sustainable products for today's families and generations to come," Alba, the company's president and co-founder, said in a release."We are excited to work with supportive partners that share the same vision and look forward to continued growth and reach,"
The subscription ecommerce startup was created to ensure parents have access to non-toxic, eco-friendly, effective and beautiful family products that don't break the bank.
The Honest Company has managed double-digit growth since its launch in January last year,
"its growth figures have managed to impress VCs, although the visibility of Alba - an actress who only has to buy her co-workers coffee to get a write up in the Daily Mail - can't hurt," according to TechCrunch.
The company gets customers to sign up for different monthly packages of products and also sells via small scale partnerships with bricks-and-mortar retailers plans to use the new funding to accelerate growth initiatives, including international expansion outside the U.S. - describing its recent launch into Canada as a "positive" step for its growth.
"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," The Honest Company CEO and Co-Founder Brian Lee said in a statement. "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.
"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," he said.
Lee is also co-founder of Shoedazzle and Legalzoom.