The Honest Company Gets $70M

Los Angeles-based The Honest Company, the online, family products retailer led by serial entrepreneur Brian Lee, and which was co-founded by Jessica Alba, has raised $70M in a funding round, according to the company Tuesday. The funding was led by Wellingtom Management Company, and also included un-named, public market institutional investors, along with prior investors Lightspeed Venture Partners, Institutional Venture Partners, General Catalyst Partners and ICONIQ Capital. The funding brings the company's total raised to $122M. The company said the funds go to accelerate the company's growth, Honest Company offers up non-toxic, family friendly products such as baby products, bath and skin care, cleaning supplies, and other household goods. Goldman Sachs served as placement agent in the funding, according to the company. More information »