Carrot Fertility

Carrot Fertility enables companies to offer its employees fertility benefits, through flexible and customized plans to finance the treatments. As of August 2021 the company serves employees in 55 countries and counts notable employers such as Peloton, Box, and Samsara as its customers. The company is currently on track to reach a customer base of 450 and nearly 1 million in covered members during 2021—with its customer growth quintupling over the last 18 months and its revenue increasing by five-fold in the last two years. In addition to processing claims and reimbursements for employers, Carrot also offers custom reports on enrollments, engagement, and costs.

The company’s program includes egg freezing, in vitro fertilization (IVF), adoption, and donor and gestational carrier services. It also offers the Carrot Card, which allows employees to access their benefits and pay for services, mitigating out-of-pocket payments. Carrot also offers a “Carrot Card” for covered employees, which functions as a debit card to conveniently pay for their treatments.

The company’s Female Fertility and Wellness Test, which includes a clinician-led telemedicine visit, was developed in partnership with the home-based test kit provider imaware. It offers a complete picture of women’s fertility health and helps them perform hormone and biomarker (anti-mullerian hormone, high-sensitivity C-reactive protein, hemoglobin A1c) monitoring at home.

Carrot launched a telehealth program (Carrot at Home) that combines artificial intelligence (AI) powered predictive analytics with virtual appointments. The company raised USD 75 million in Series C funding in August 2021 in a round led by Tiger Global Management, and intends to use the funds to expand its global footprint, invest in member experience, and increase its customer base.