Jessica Alba's startup reportedly just raised $100 million at a $1.7 billion valuation
The Honest Co. sells natural and eco-friendly household products like premium diapers and toothpaste.
According to one of The Honest Co.'s early investors, Jeremy Liew, about 80% of that revenue comes from customers who receive a monthly delivery of diapers and other products.
Last summer, The Honest Co. raised $70 million at a valuation close to $1 billion.
Since founding The Honest Co. in 2011, Alba has been able to leverage her celebrity to throw the company into the limelight, garnering attention for her environmental and social goals. Like Toms and Warby Parker, The Honest Co. donates some of its products and revenue, meriting a B Corp certification from nonprofit group B Lab. (B Corps are also known as benefit corporations.)
"I wanted clean, safe, effective products that were affordable and beautifully designed, and I couldn't find that in the marketplace," Alba said on "Late Night with Jimmy Fallon." "There wasn't really a family brand that spoke to me as a young mom."
Previously, Reuters reported that Honest was seeking new funding that would value the company up to $2 billion.
Earlier this summer, some Honest Co. customers complained that the company's sunscreen doesn't work. Chicago mother Gretta Stabler purchased The Honest Company's SPF 30 sunscreen at Costco, according to the local NBC affiliate. During a recent trip to the pool, she applied sunscreen to her 6-year-old daughter Maggie four times, Stabler claims. "She got really burned on her arms, shoulders, legs face, pretty much everywhere. I was angry," Stabler said.
We have reached out to The Honest Company for comment and will update this post accordingly.