Newspaper article International New York Times

Online Grocer in New Round of Financing

Newspaper article International New York Times

Online Grocer in New Round of Financing

Article excerpt

The round of financing for the start-up, which aims to provide healthy, organic food at low prices, was led by the investment firm Invus.

Investors are betting that a start-up aiming to become the online equivalent of Costco for healthy foods can blossom.

The company, Thrive Market, said on Monday that it had raised $111 million in a new round of financing, led by the investment firm Invus. Other existing investors, including Greycroft Partners, E- Ventures and Cross Culture Ventures, also took part.

Thrive, founded three years ago, is one of several start-ups built around a membership model. Customers pay $60 a year to be able to buy organic food at what the company says are lower prices than what traditional grocers offer.

"We're looking to make healthy living affordable and accessible to any American family," Nick Green, a Thrive Market co-founder, said in an interview. …

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