Thrive Market, a Los Angeles-based online wholesale buying club for healthy organic products, raised $30m in Series A funding.
The round was led by Greycroft Partners and e.Ventures, with participation from Scripps Network (owners of the Food Network), the founders of the Honest Company, TOMS Shoes, Vitamin Water, Stonyfield Farms, and Zulily as well as John Legend, Tobey McGuire, and Demi Moore. In conjunction with the funding, Dana Settle, Partner and co-Founder of Greycroft Partners, will be joining the board.
The company intends to use the funds to continue to expand operations.
Founded by Nicholas Green, Gunnar Lovelace, Kate Mulling, and Sasha Siddhartha, Thrive Market has created a platform where users can find natural and organic products priced at or below the cost of conventional equivalents. In 9 months since launching last November, the company has attracted more than 100,000 active members, 1,000,000 registered users, and $5mm in monthly sales.
FinSMEs
30/07/2015