The Wall Street Journal reported that the new round values The Honest Co., whose founders include actress Jessica Alba, at nearly $1 billion.
Assuming the figure is accurate, The Honest Co. joins other General Catalyst-backed companies including Airbnb, Snapchat, Kayak, and Demandware that have gone on to achieve billion-dollar valuations.
Cambridge-based General Catalyst co-led the initial round for The Honest Co. in 2012—a $27 million Series A—then took part in the company’s $25 million Series B in November. General Catalyst’s Neil Sequeira, a managing director in the firm’s Silicon Valley office, is a member of the board at The Honest Co., which is based in Santa Monica, Calif.
Alba visited Boston in 2012 to attend a gathering of companies in General Catalyst’s portfolio.
Wellington Management Company led the new round. Other investors in the funding included Lightspeed Venture Partners, Institutional Venture Partners, and ICONIQ Capital.
Kyle Alspach has worked in journalism in Massachusetts since 2005 and was one of the original staff writers at BetaBoston.
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