Thrive Market Revenue, Valuation, Funding & Investors
Thrive Market is valued at $220M as of July 2015, a 2.2x multiple on its last reported $100M revenue.
Last Thrive Market valuation
$220M
Series A · Jul 2015
Last Thrive Market funding round
$20M
Undisclosed stage · Oct 2019
Thrive Market revenue
$100M
Series A · Jul 2015
Key investors in Thrive Market
Greycroft
Invus
Headline
MaC Venture Capital
Kapor Capital
Compound
About Thrive Market
Thrive Market is an online membership grocery service carrying over 5,000 organic and non-GMO products with filters for diets like keto and vegan. Los Angeles-headquartered since 2014, it matches paid memberships with free ones for low-income families and has raised millions through Thrive Gives for food access initiatives.
Founded
2013
HQ
Los Angeles, CAWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Revenue
$100M (Jul 2015)
Valuation
$220M (Jul 2015)
Thrive Market Valuation
Thrive Market is currently valued at $220M, based on its Series A in July 2015.
The $30M round was led by Greycroft.
Thrive Market valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2015 | Series A | $220M | 2.2x |
Thrive Market Revenue
Thrive Market's latest recorded revenue is $100M, as of its Series A in July 2015. At a $220M valuation, that implies a 2.2x revenue multiple.
Thrive Market revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2015 | $100M | $220M | 2.2x | Series A |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Thrive Market Funding History
Thrive Market has raised a total of $241M across 7 funding rounds.
Thrive Market's first fundraising round was a $8M seed round in January 2014. The most recent completed round was a $20M undisclosed-stage round in October 2019.
Thrive Market funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2019 | Undisclosed stage | Invus (lead) | $20M | - | Thrive Market is an online membership-based retailer offering organic, non-GMO, and sustainable grocery products at discounted prices to health-conscious consumers. Founded in 2014, it operates as an e-commerce platform with a focus on wholesale pricing for members, competing in the direct-to-consumer organic food sector. The company launched in November 2014 and rapidly scaled through influencer-backed funding and product expansion, including launching self-branded items that comprised significant sales portions by 2017. The specific October 2019 convertible note round raised $20 million led by Invus to support ongoing growth and expansion initiatives. This followed prior rounds including a $111 million Series B in June 2016 also led by Invus, a $42.4 million Series B extension in July 2018, and other extensions. Total funding across rounds reached over $241 million by 2025, with Invus as a key backer focused on transformative consumer models. Around 2016, near earlier Invus-led funding, Thrive Market reported over $100 million in revenues, $200,000 daily sales, and 300,000 paying members. Growth accelerated during COVID-19 with 90% revenue increase, reaching over $700 million in annual sales by March 2025 alongside 1.6 million members and 750 brands. In 2021, it considered an IPO at over $2 billion valuation but remained private; secondary markets later implied $1.16-1.3 billion valuations. Thrive Market enhanced its social impact through the Thrive Gives program donating memberships since 2015, achieving climate and plastic neutrality, and converting to a public benefit corporation in 2023. It became the first online-only grocer to accept SNAP EBT in 2024, generating over $1 million in initial revenue from it. Distribution expanded with TRUE-certified centers, positioning it for ESG investors amid DTC market consolidation. |
| Jul 2018 | Series B | Pure Imagination Brands; KSV Global | $42M | - | - |
| May 2017 | Series B | - | $20M | - | Thrive Market is an online membership-based marketplace offering organic, non-GMO, and sustainable groceries and household products at discounted prices, targeting health-conscious consumers. Founded in 2013 by Nick Green and Sasha Mordi, it differentiates through strict quality standards excluding products with artificial ingredients, appealing to wellness-focused shoppers unlike traditional retailers such as Trader Joe's which lacks delivery and similar restrictions. The company built early traction via influencer networks, raising an $8M seed from over 150 angels including Jillian Michaels and Deepak Chopra in January 2014. The specific May 2017 funding was a $20M Series B extension, following a $111M Series B led by Invus in June 2016 and a $10M convertible note in October 2016, aimed at expanding market presence, contributing to a total raised exceeding $241M by 2025 across multiple rounds including further extensions in 2018 and 2019. Later traction shows over $700M in annual sales and 1.6M paying members as of March 2025, with additional revenue from SNAP EBT in late 2024. The company has sustained growth as a private entity, with secondary market valuations implying $1.1B-$1.3B recently and past IPO considerations at over $2B in 2021, though no public offering occurred. Thrive Market converted to a Public Benefit Corporation, emphasizing ESG factors like climate neutrality. |
| Oct 2016 | Series A | - | $10M | - | Thrive Market raised $10 million in a convertible note round in October 2016 after rejection by traditional VCs, leveraging networks of health and wellness influencers. This followed a $111 million Series B in June 2016 led by Invus, bringing total funding to around $141 million by late 2016. The company operates as a membership-based e-commerce platform for natural and organic food products, launched in November 2014. In June 2016, ahead of the October round, Thrive Market reported being on track for over $120 million in annual revenue and was growing rapidly in the organic grocery space. By that time, it had 300,000 paying members and daily sales of $200,000. The business focused on affordable access to organic, gluten-free, paleo-friendly, and GMO-free items from brands like Annie’s and Yogi, plus its own products, targeting underserved regions like the U.S. Midwest and South. Funding supported infrastructure expansion, content development including recipes, educational materials, journalistic content, and documentary videos. Investors included Greycroft Partners, e.ventures, Cross Culture Ventures, and celebrities like Demi Moore and John Legend. |
| Jun 2016 | Series B | Invus (lead); MaC Venture Capital; Kapor Capital; Demi Moore; Greycroft; Clark Landry; John Legend; Headline; HDS Capital | $111M | - | Thrive Market is a membership-based online retailer specializing in natural, organic, and non-GMO health and wellness products, offering over 4,000 items from top brands at 25-50% below traditional retail prices, plus its own private-label goods like coconut oil and pasta sauce. The $59.95 annual membership model provides access to these discounted products, shipped within 24 hours from fulfillment centers in Los Angeles and Indiana, serving 90% of the US population in 2-4 days. Launched less than two years prior to the round, the company had grown to over 300,000 paying members by mid-2016. In June 2016, Thrive Market raised $111 million in a Series B funding round led by Invus, with participation from existing investors like Greycroft Partners, e.ventures, and Cross Culture Ventures, as well as celebrities Demi Moore and John Legend. This followed a $30 million Series A led by Greycroft. The funds were earmarked for building infrastructure, boosting marketing, creating more private-label products, expanding content like recipes, educational materials, journalistic pieces, and documentary videos. At the time, Thrive was on track for over $120 million in annual revenue and had exceeded expectations in a competitive market against players like Vitacost and traditional retailers like Whole Foods. The round targeted scaling operations to reach underserved demographics, such as women in the US Midwest and South, by leveraging direct brand sourcing to maintain low prices. |
| Jul 2015 | Series A | Greycroft (lead) | $30M | $220M | Thrive Market is an online membership-based wholesale club offering organic foods, eco-friendly products, and health-conscious goods at up to 25-50% discounts by purchasing in bulk and charging a $60 annual membership fee, modeled after Costco but focused on healthy living. Launched in November 2014, it quickly grew to over 100,000 paying members and 1 million registered users within eight to nine months, shipping 1 million products with 75% conversion from free trials to paid memberships. In July 2015, Thrive Market raised approximately $30 million in a Series A funding round led by Greycroft Partners, with participation from E.Ventures, Scripps Networks Interactive, CAVU, Powerplant Ventures, and various angels including celebrities like John Legend and Demi Moore. This followed an $8 million convertible note round from over 100 high-profile investors such as Deepak Chopra and Tony Robbins. Multiple tranches were reported around July 10, 2015, including Series A ($33.54MM at $6.65/share), Series A-2 ($584K at $0.53/share), Series A-1 ($1.23MM at $0.27/share), and Series A-3 ($4.45MM at $5.32/share), all at a post-money valuation of $220.4 million according to Forge Global data. An SEC filing also noted a $32.9 million round with 191 investors, potentially overlapping. The company was tracking a $100 million revenue run rate for its first full year since launch as of the funding announcement. Funds were earmarked for expanding operations, including a new 275,000 square-foot fulfillment center in Indiana to better serve the East Coast, alongside the existing 40,000 square-foot West Coast facility. Thrive Market aimed to make healthy products affordable nationwide, offering one free low-income membership per paying user and planning to accept food stamps by early 2016. This round marked the largest early-stage investment in an LA online shop at the time, positioning Thrive Market to scale rapidly in the e-commerce health food sector amid competition from models like Jet.com. Growth to 100,000 members validated demand, with founders Gunnar Lovelace and Nick Green leveraging prior exits to build a mission-driven platform. |
| Jan 2014 | Seed | Compound; LDR Ventures; Jeremy Roll; Tony Robbins; Digi Ventures; Deepak Chopra; Jillian Michaels; Loren Bendele | $8M | - | Thrive Market raised an $8 million seed round in January 2014 from over 150 influencers, including Deepak Chopra, Jillian Michaels, Tony Robbins, and others listed. The company, founded in 2014, launched its online membership platform for healthy, organic groceries in November 2014 after rebranding from Shop Tribe and facing rejections from over 50 venture capitalists. Thrive Market positions itself as a combination of Whole Foods and Costco, offering discounted organic products to paying members for $59.95 annually while donating a free membership for every new paying customer. |
Who has invested in Thrive Market?
19 investors have backed Thrive Market across its funding rounds, including Greycroft, Invus, Headline, MaC Venture Capital, Kapor Capital and Compound.
Lead investors include Invus and Greycroft.
Thrive Market Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| New York City, NY | 2 | Lead | Jun 2016 | |
| New York City, NY | 2 | Lead | Jul 2015 | |
| New York City, NY | 1 | Participant | Jan 2014 | |
| United States | 1 | Participant | Jan 2014 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Jeremy Roll | Los Angeles, CA | 1 | Participant | Jan 2014 |
| Tony Robbins | San Diego, CA | 1 | Participant | Jan 2014 |
| Abilene, TX | 1 | Participant | Jun 2016 | |
| San Francisco, CA | 1 | Participant | Jun 2016 | |
| Demi Moore | Los Angeles, CA | 1 | Participant | Jun 2016 |
| Los Angeles, CA | 1 | Participant | Jan 2014 | |
| Deepak Chopra |  Toronto | 1 | Participant | Jan 2014 |
| Miami, FL | 1 | Participant | Jan 2014 | |
| Loren Bendele | Los Angeles, CA | 1 | Participant | Jan 2014 |
This data is available for Pro users. Sign up to see all 19 Thrive Market investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialInvestments by Thrive Market
Thrive Market has invested in 4 companies to date.
Latest investment by Thrive Market was on October 29th 2020. Thrive Market invested in MarketerHire in their $3M Seed round.
Latest Investments by Thrive Market
| Description | MarketerHire is a San Francisco-headquartered talent platform connecting companies with freelance marketing experts in SEO, content, paid media, and growth strategy. Used by startups like Brex and enterprises including Airbnb and Salesforce, it matches projects in under 48 hours from a network of 10,000 vetted professionals. All roles support remote work globally, enabling marketers to supplement income without leaving full-time positions. | Serenity Kids is an Austin, Texas-based company founded in 2016 that produces nutrient-dense baby foods and toddler snacks. The product line features meat-based pouches, bone broth sticks, and grain-free bars free of added sugars, targeting parents seeking paleo and carnivore-friendly options for child nutrition. | Good Catch produces plant-based seafood alternatives including shredded tuna, crab cakes, and fish patties from lentils, chickpeas, and fava beans. Headquartered in Newtown, Pennsylvania since 2016, the company supplies grocery chains like Whole Foods and targets omega-3 fortified products mimicking ocean flavors and textures. | Rael is a Los Angeles-based feminine care brand offering organic pads, tampons, period underwear, and intimate washes sold in Target stores and online across 13 countries. The product line features pH-balanced wipes and acne patches for menstrual skin, with expansions into clean beauty serums distributed via Amazon and GetRael.com. |
| HQ Country | | | | |
| HQ City | San Francisco, CA | Austin, TX | Philadelphia, PA | Los Angeles, CA |
| Deal Date | 29 Oct 2020 | 25 Jul 2019 | 7 Aug 2018 | 15 May 2018 |
| Round | Seed | Seed | Series A | Seed |
| Raised | $3M | $2M | $9M | $3M |
| Investors | RiverPark Ventures; Singh Capital Partners; Seamless Accelerator; Notion Capital; West Quad Ventures; Zillow; FabFitFun | David Perlmutter; Nick Green; Sasha Siddhartha; Katie Wells; Vani Hari; Wild Ventures; Kelly LeVeque; Gunnar Lovelace; Melissa Hartwig Urban | FreshDirect; VegInvest; PHW Group; New Crop Capital; Starlight Ventures; M13; Baleine & Bjorn Capital; Clear Current Capital; EverHope Capital; Stray Dog Capital; Rocana Venture Partners | SBVA; BAM Ventures; Atinum Investment |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all Thrive Market investments and their VC round multiples. Start Free Trial | ||||
Thrive Market Competitors
Thrive Market competitors include listed companies like Kogan.com and Baozun, and private ones like Trela, Pangaea, Juanpi and IDUS.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Brazil | Private | - | - | $125M | - | |
 Australia | Publicly listed | $347M | ($11M) | $226M | 0.6x | |
| Los Angeles, CA | Private | - | - | $230M | - | |
 Wuhan | Private | - | - | $233M | - | |
 Seoul | Private | - | - | $240M | - | |
| China | Publicly listed | $1.5B | $1M | $157M | 0.2x |
Thrive Market Public Comps
Thrive Market is still privately-owned, but its public comps include Kogan.com, Eurocash, Uxin, Giftee, YesAsia, Vente Unique, Verkkokauppa.com, Nofoth Company, 1-800-Flowers.com and Newegg.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $347M | ($11M) | 0.6x | 0.6x | (19.3x) | 6.9x | |||
| $7.9B | $149M | 0.1x | 0.1x | 4.9x | 4.1x | |||
| $483M | ($16M) | 1.1x | 0.7x | (35.0x) | (24.9x) | |||
| $91M | $20M | 2.5x | 2.5x | 11.7x | 9.4x | |||
| $502M | $42M | 0.4x | 0.3x | 4.9x | 4.1x | |||
| $231M | $22M | 0.8x | 0.7x | 8.4x | 6.6x | |||
| $606M | $27M | 0.3x | 0.3x | 7.2x | 7.4x | |||
| $115M | $25M | 1.5x | - | 6.9x | - | |||
This data is available for Pro users. Sign up to see all Thrive Market competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Thrive Market
| When was Thrive Market founded? | Thrive Market was founded in 2013. |
| Where is Thrive Market headquartered? | Thrive Market is headquartered in Los Angeles, CA, United States. |
| Is Thrive Market publicly listed? | No, Thrive Market is a private, VC-backed company. |
| What is Thrive Market's valuation? | Thrive Market was last valued at $220M in its Series A in July 2015. |
| How much funding has Thrive Market raised? | Thrive Market has raised $241M across 7 funding rounds. |
| What was Thrive Market's last funding round? | Thrive Market's last funding round was a $20M undisclosed-stage round in October 2019, led by Invus. |
| Who are Thrive Market's investors? | Thrive Market's investors include Invus, Greycroft, Compound, LDR Ventures, Jeremy Roll, Tony Robbins, MaC Venture Capital, Kapor Capital, Demi Moore, Digi Ventures and 9 others. |
| What is Thrive Market's revenue? | Thrive Market's latest recorded revenue is $100M (July 2015). |
| What is Thrive Market's revenue multiple? | Thrive Market's latest valuation implies a 2.2x revenue multiple ($220M valuation on $100M of revenue). |
| Which companies are comparable to Thrive Market? | Companies comparable to Thrive Market include Trela, Kogan.com, Pangaea, Juanpi, IDUS and Baozun. |
| How many companies has Thrive Market invested in? | Thrive Market has invested in 4 companies, including MarketerHire, Serenity Kids, Good Catch and Rael. |
| What was Thrive Market's last investment? | In October 2020, Thrive Market invested in MarketerHire's $3M seed round alongside RiverPark Ventures, Singh Capital Partners, Seamless Accelerator and 4 other investors. |
See companies similar to Thrive Market
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.