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Honest Co. , an e-commerce startup co-founded by actress Jessica Alba that makes and sells eco-friendly personal care products, announced yesterday, that it has raised $70 million in a series C funding round. The new round was led by funds affiliated with private investment management firm Wellington Management Company with the participation of existing investors including Lightspeed Venture Partners, Institutional Venture Partners, General Catalyst Partners and ICONIQ Capital. The company’s current valuation is reportedly $1 billion, and Honest’s executives have said in press interviews this week that an IPO could be in the future.

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