FARMINGTON HILLS — Beringea has invested in Abe’s Market, the online destination for ordering natural and organic products. The investment was part of Abe’s $5 million financing round, led by Carmel Ventures with existing investors Index Ventures and Accel Partners, and new investor OurCrowd. Abe’s Market is the 28th new investment made by the InvestMichigan! Growth Capital Fund since its inception. Abe’s Market is using the new funds to fuel its growth as an authority in the green and natural space, making key investments in marketing, talent acquisition, technology enhancements, content creation and product expansion.
“Over the past decade, consumers have begun to understand the impact natural and organic products have on health, wellness and the environment. Abe’s is poised to capitalize on this rapid shift in mindset and is on track to become the leading online specialty natural products retailer,” said Jeff Bocan, managing director for Beringea. “The company’s extensive product offerings and helpful resources make the switch from conventional products to natural alternatives easy and enjoyable.”
“Abe’s Market stands for much more than just a business….we represent a way of life,” said Richard Demb, co-founder and CEO of Abe’s Market. “By providing a personal connection with the merchant and their products online, we are improving the buying experience and helping consumers enjoy a healthier lifestyle. This new round of funding from leading investors is a testament to the strength of what we have built and the future ahead of us.”
Abe’s Market continues to innovate within the natural living and e-commerce spaces. At the beginning of 2013, the site unveiled a new content model that offers insight from Abe’s merchants, staff, and industry thought-leaders on the news and trends happening in the organic, natural, and green industries. The company launched a first of its kind customizable shopping experience to help people filter through and better understand hundreds of various lifestyle and dietary qualities which make up the thousands of products offered on the site.