Carrot Fertility

Market position

Describes itself as a leading global fertility benefits provider for employers and claims the highest single embryo transfer rate of any fertility benefits provider, with methodology independently validated by Milliman. Coverage from Fierce Healthcare places it among startups disrupting employer fertility services alongside Progyny, the first publicly traded fertility benefits management company, and adjacent players such as Modern Fertility (acquired by Ro) and Ovia Health (acquired by Labcorp). Carrot was named to Fierce Healthcare's Fierce 15 of 2021.

Stated points of difference are global reach with localized, culturally competent care and language, currency and payment options; inclusivity across age, race, income, sex, sexual orientation, gender, faith, marital status and geography; individualized Carrot Plans rather than a fixed pathway; clinical steering toward less invasive alternatives to IVF and single embryo transfer; the Carrot Card removing out-of-pocket payment and reimbursement; and Carrot Rx pharmacy savings.

Technology

A member-facing web and mobile platform delivers the personalized Carrot Plan, messaging and resource centers, provider search across the clinic, attorney and agency network, virtual visits, and Carrot Rx online medication ordering and delivery. Carrot at Home, launched during the COVID-19 pandemic, combined AI-powered predictive analytics with virtual appointments and at-home testing and ovulation tracking. The company has also announced AI-native metabolic care for menopause.

Go-to-market

Sold through direct enterprise channels to employers and through benefit consultants, health plans and union funds; distribution partnerships extend reach, such as the announced arrangement with Healthcare Management Administrators for employer groups in the Pacific Northwest and Michigan. Marketing assets include case studies, member testimonials, an editorial blog, member-facing app listings and a "request Carrot at my company" path for employees.

Large and multinational employers, benefit consultants, health plans and unions; end users are their employees and members pursuing fertility preservation, assisted reproduction, adoption, surrogacy, pregnancy and postpartum care, parenting transitions, menopause support and men's health. Named customers include Box, Snap, Inc., Peloton, Slack, Eventbrite and SiriusXM.

Geography

Headquartered in San Francisco, US, per internal records; the Google Play developer listing gives a corporate address in West Des Moines, Iowa. The service is described as available in 195+ countries, up from more than 55 countries in 2021 and more than 42 countries across North America, Asia-Pacific, Europe, South America and the Middle East in 2020. The Healthcare Management Administrators partnership targets employer groups in the Pacific Northwest and Michigan.

History

Founded in 2016 as a global solution from the outset. By 2020 the company had signed more than 100 employer customers, operated in more than 42 countries, added Carrot at Home telehealth, Carrot Pregnancy and Carrot Rx, made the Carrot Card available worldwide, closed a $24 million Series B led by U.S. Venture Partners taking total funding above $40 million, and added Brian Marcotte to its board. In August 2021, less than a year later, it raised a $75 million Series C led by Tiger Global Management with OrbiMed and existing investors, bringing total funding to $115 million and targeting health plan and multinational employer products. Subsequent site content shows expansion of the offering into menopause, men's health, parenting and return to work, growth to 195+ countries and more than 1,000 customers, and 2026 announcements covering a health plan administrator partnership, an HHS Women's Health Ambassador appointment for co-founder Dr. Asima Ahmad, and AI-native menopause metabolic care.

Risks & controversies

The sources do not report controversies. Notable considerations from the material: several headline outcome, satisfaction and network statistics are self-reported by the company, and network size figures are inconsistent across channels (17,000+ providers on the website versus 3,800+ clinics and 3,400+ attorneys and agencies in the app listing). Financial disclosures are limited, with revenue growth reported only as a multiple. Fierce Healthcare notes a competitive employer fertility benefits market including the publicly traded Progyny and consolidation by Ro and Labcorp, and a falling U.S. birth rate during the pandemic.