Thrive Market Raises $111 Million

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Online health food store Thrive Market has raised a $111 million round.

The round was led by Invus with participation from Greycroft Partners, E-Ventures, and Cross Culture Ventures, reports the New York Times. The funds will be used to help the company grow, including creating more Thrive Market-branded goods and paying for marketing.

Thrive Market sells about 3,000 different health foods, supplements, household, personal care and beauty products at near wholesale prices online. The company makes money through a $60 a year membership fee; a business model that is similar to Costco or Amazon Prime.

As of February, the company had a $100 million run rate, reported SoCal Tech. The company now has more than 300,000 paid members.

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