August 2015 $100M Honest Co Round Puts Jessica Alba Among 40 Richest Self-Made Women in America
Adam Rifkin stashed this in Black Swans!
The Honest Company, the nontoxic household products startup cofounded by actress Jessica Alba, announced on Friday that it had closed $100 million in Series D financing.
The movie star-turned-mogul owns about a 20% stake in Honest, which started out selling diapers and baby wipes online but has quickly grown into an 120-product empire.
The company’s new valuation boosts Alba’s net worth to approximately $340 million — and onto Forbes’ list of America’s richest self-made women.
Should the company go public as expected, Alba could well be on her way to the billionaires’ club — not a bad return for an initial $6 million seed investment by Alba and cofounder Brian Lee.
Honest’s latest round was led by new investors Glade Brook Capital Partners LLC. Other participants included AllianceBernstein LP as well as existing investors Fidelity Management & Research, Wellington Management Company and Institutional Venture Partners.
The Los Angeles-based company said the new infusion of capital would be used to grow its Honest Beauty line of skincare, cosmetics and haircare products.