The Honest Company closes Series E funding round
The Honest Company, the healthy lifestyle brand by actress Jessica Alba, announced on Thursday the closing of its Series E funding round that was led by Fidelity Management & Research Company.
The brand launched its series D funding round in 2015, raising $100 million. In 2016, the brand’s annual revenue was reported to be $300 million, following a $220 million investment.
The Honest Company has invested heavily in sales, research & development, brand and retail marketing and fulfillment teams, and cut 80 jobs to shift from e-commerce to omni-channel.
The new financing comes amidst the brand’s transformation and will be used to execute long-term strategy, shift from e-commerce to omni-channel and support global expansion plans.
“Our team is focused on executing a plan that builds on our success to date and transforms Honest into a true omni-channel company that delivers the most authentic, engaging and seamless customer experience possible, wherever our customers shop. This funding will enable us to further our goal of making our products accessible to as many people as possible,” said The Honest Company CEO, Nick Vlahos.
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