Bengaluru: California-based leading healthy lifestyle brand, The Honest Company raises $100 million in Series D round of funding led by Glade Brook Capital Partners LLC. The funding round was participated by a new investor Alliance Bernstein along with the company’s existing investors Institutional Venture Partners, Fidelity Management & Research Company and Wellington Management Company LLP.
The company had previously raised $27 million in its series A round of funding led by General Catalyst Partners in 2012 and $25 million in series B round led by Institutional Venture Partners (IVP) in 2013. It also raised $70 million in series C round of funding led by Wellington Management in 2014. The latest round brings the company’s total fund to $222 million.
The firm will utilize the fund to gear up its product development and to launch its Honest Beauty line. It also intends to use in expanding its reach globally and to boost its online and bulk distribution.
Spearheaded by the Hollywood actress Jessica Alba, Santa Monica-based Honest Company is a consumer goods service dedicated to provide eco-friendly baby and family products. The three-year-old firm highlighted harmless household products in order to provide a marketplace for green consumerism. Launched its services with 17 products, the firm had expanded its wings by designing and manufacturing its own products and claims to have more than 120 products across baby care, personal care, home care, and many more. The firm also offers products online and owns presence in 4,000 retail shops in the U.S. and Canada.