The Honest Company, which is unique for reason that we will get to shortly, has just raised a massive series A round, totaling some $27 million.
From the docket on the company, they claim to aim to provide “non-toxic and natural baby and family products online.” Honest works much like ManPacks, sending tailored monthly boxes of supplies to parents, in this case. Essentially, whatever your tot needs for the month will arrive, like clockwork, from Honest. Honest.
The round was led by General Catalyst, Lightspeed Venture Partners and Institutional Venture Partners, a good set of investment firms, who have invested in LivingSocial and other firms.
It’s a neat model, and one that has been expanding of late, given its ease. Amazon, for example, now lets users subscribe to individual products, at a discount, on a recurring basis. However, Honest has a rather unique president, the comically famous (and if I may say, quite pretty), Jessica Alba at the ship’s wheel. Given her stature outside of tech, it’s excellent to see her take on this role in our realm. She commented on the success of the firm thus far with her as president:
“The overwhelmingly positive response we have received since our recent launch has shown us we need to continue dedicating time and resources to further develop our Honest brand and community. The new funding confirms our positioning and acknowledges the big need for a brand and service to deliver pure, healthy products that are delightful, effective and beautiful.”
Given that Honest has an obvious spokesperson at their disposal, the company should be able to quickly capitalize on its cash. Whether competitors will spring from the weeds to copy its success, is all that likely remains to be seen.
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