Investors are betting that a start-up aiming to become the online equivalent of Costco for healthy foods can grow and 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 by a group of entrepreneurs, is one of several start-ups built around a membership model. But customers pay $60 a year to be able to buy organic food at what the company says are lower prices than what traditional grocers like Whole Foods offer.
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