Apart from being a badass actress, model and sex symbol, Jessica Alba is also a startup co-founder. About two years ago, she and business partner Chris Gavigan launched The Honest Company, an LA-based startup focused on making affordable baby products that are non-toxic, sustainable, and eco-friendly.
According to multiple sources, Alba’s startup recently raised $25 million in a second-round of funding led by Institutional Venture Partners and Iconiq Capital. This brings the total funding to $52 million since the company launched in January 2012.
The Honest Company aims to use the funds for new product development and expansion outside of the United States. According to Forbes, the company’s co-founder Brian Lee offered his thoughts in regards to the expansion:
For Lee, the expansion is all about getting to a big enough size to make a dent in the market–reaching a critical mass of consumers with products that don’t have toxic ingredients, but also encouraging customers to adopt healthier habits. That’s the main reason to go the triple bottom line, for-profit route, he says. “Running a small company is great, but we want to to be at a point where we’re selling at a mass level,” he says. “And that’s best done by having a for-profit model.”
The Honest Company initially started out as a monthly subscription-based service with an online store. Most recently, they’ve begun to put their products in various stores, from small boutiques to large stores like Costco.