Online health food company Thrive Market announced a $111 million round of funding this morning. The round will help the company create new branded goods, as well as expand the startup's marketing efforts.
The three-year-old company offers a wide selection of healthy food for a $60 a year membership, allowing access to organic products at better prices than stores like Whole Foods or Trader Joe's.
Though the direct-to-consumer grocery space has grown crowded over the past few years, Thrive Market boasts five million registered users, and ships $200,000 worth of goods a day. The company has over 300,000 memberships, and for each one, the Marina Del Rey-based startup sponsors a low-income family. They are also vocal in their mission to help loosen restrictions on the way food stamps are used.
The round of funding was led by Invus, the round included contributions from Cross Culture Ventures, e.ventures and Greycroft Partners. Last July, the company raised $30 million in a round led by Greycroft Partners.
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