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Closes $100 million infusion to accelerate launch of skin care and color.
August 17, 2015
By: Christine Esposito
Editor-in-Chief
The Honest Company has closed $100 million in Series D financing. The firm will use the new capital to accelerate its product roadmap, including the launch of its Honest Beauty line of skincare, color cosmetics, and hair care products, support its global expansion plans, and bolster its online and wholesale distribution. New investors include Glade Brook Capital Partners LLC, which led the round, and AllianceBernstein. Existing investors Fidelity Management & Research Company, Wellington Management Company LLP and Institutional Venture Partners also participated. “The Honest Company provides people with effective, safe, and accessible lifestyle products for healthy, happy lives. This funding will enable us to expand our current product offerings, support the upcoming launch of Honest Beauty, and further our goal of bringing Honest products to a greater number of households around the world,” said Brian Lee, The Honest Company co-founder and CEO. The Honest Company launched in 2012 with 17 products. It has since expanded its portfolio to more than 120 products across baby care, personal care, home care, vitamins and supplements, and baby formula. The company’s products are currently available online at www.honest.com and at more than 4,000 retail partners across the US and Canada, including Target, Whole Foods, Nordstrom, and Costco. “At The Honest Company, we dream big to fulfill our vision of a healthier and more conscious future. With this funding and our partners’ support, we are being given an opportunity to make an even greater impact. We look forward to continuing our growth in the marketplace and meeting our consumers’ evolving needs,” said The Honest Company founder and chief creative officer, Jessica Alba.
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