What is Carrot?
Carrot Fertility operates as a premier global provider of fertility benefits, specifically engineered for employers and health plans. By offering a customizable, clinically-managed program, the company addresses the multifaceted needs of employees navigating fertility preservation, IVF, adoption, and pregnancy support. The platform is designed to reduce overall healthcare costs while simultaneously improving clinical outcomes, positioning Carrot as a vital partner for organizations aiming to enhance their employee benefits packages. Through its innovative use of technology, including the Carrot Card for flexible payment and Carrot Rx for pharmacy services, the company has established a dominant market position in the digital health and reproductive benefits space.
How much funding has Carrot raised?
Carrot has raised a total of $144.9M across 6 funding rounds:
Unspecified
$5.8M
Angel/Seed
$3.6M
Other Financing Round
$25M
Series A
$11.5M
Series B
$24M
Series C
$75M
Unspecified (2017): $5.8M, investors not publicly disclosed
Angel/Seed (2017): $3.6M led by Venture Softtech
Other Financing Round (2018): $25M supported by New York Life Ventures and JJDC
Series A (2019): $11.5M featuring Crv
Series B (2020): $24M backed by Uncork Capital, F-Prime Capital, Maven Ventures, U.S. Venture Partners, CRV BV, and Precursor Ventures
Series C (2021): $75M with participation from U.S. Venture Partners, Tiger Global Management, F-Prime Capital Partners, and OrbiMed
Key Investors in Carrot
OrbiMed
OrbiMed is a specialized investment firm focused on the healthcare sector, managing capital across biopharmaceuticals, medical devices, and digital health platforms to support innovation at various stages of development.
U.S. Venture Partners
U.S. Venture Partners is a prominent Silicon Valley venture capital firm specializing in early-stage investments across cybersecurity, enterprise software, and healthcare sectors.
F-Prime Capital
F-Prime Capital is a global investment firm with a dedicated team of investors, engineers, and scientists focused on advancing healthcare and technology solutions.
What's next for Carrot?
With the support of its latest capital infusion, Carrot is well-positioned to expand its footprint in the enterprise healthcare market. The company is expected to focus on deepening its clinical integrations and enhancing its digital infrastructure to support a broader range of reproductive health services. As the demand for inclusive and comprehensive family-forming benefits continues to rise among Fortune 1000 corporations, Carrot's strategic roadmap likely involves scaling its global operations and refining its pharmacy and payment solutions to maintain its competitive edge. The firm remains committed to its core objective of providing accessible, high-quality fertility care, leveraging its robust network of investors to drive long-term innovation and market leadership.
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