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.