Carrot

What Carrot does

Carrot Fertility, Inc. operates a global B2B fertility and family-building benefits platform that connects employer-sponsored members to culturally competent care across more than 195 countries via 17,000+ eligible providers. The platform spans the full family-forming journey including fertility preservation, IVF/IUI, gestational surrogacy, adoption, pregnancy and postpartum, parenting, menopause, and men's health, and serves more than 1,200 employer and payer customers such as Salesforce, Box, Elastic, Henry Ford Health, SiriusXM, Barry's, and SurveyMonkey. Underlying technology includes the proprietary Carrot Intelligence AI platform (built on the largest proprietary clinical dataset in the fertility category), the AI-powered Global Price Monitoring System across 50+ currencies, Carrot Rx pharmacy benefits, the Carrot Card Visa Commercial payment product (powered by Stripe and Airwallex), the Carrot Sprints metabolic-health coaching programs (with Apple HealthKit, Android Health Connect, and Withings integrations), and the Carrot Collective marketplace of partner products. Methodologies are independently validated by Milliman, and Carrot Medical, LLC operates as a HIPAA Covered Entity with GDPR, CCPA-state, Washington MHMDA, and Colorado/Texas AI compliance.

The company monetizes primarily through quote-based B2B enterprise subscriptions sold to employers, health plans, benefit consultants, and unions, supplemented by pharmacy benefits (Carrot Rx), a marketplace (Carrot Collective), and payments revenue (Carrot Card). Go-to-market combines direct enterprise field sales with channel distribution through Transcarent's Experience Store, Amazon Health, the UHC Store, Guardian Life Insurance hospital indemnity, and benefit consultants/brokers. The company employs 251-500 people, is headquartered in Sacramento, California, and was founded in 2016. The only disclosed funding event is a $24M Series B in August 2020 led by U.S. Venture Partners, with the company subsequently funding product and geographic expansion (into menopause, pediatrics via Blueberry, pelvic floor via Origin, OB/GYN-delivered care, and AI) primarily from operating cash flow.

Name

Carrot

Legal name

Carrot Fertility, Inc.

Website

https://get-carrot.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

251–500 employees

Short description

Carrot Fertility is a global B2B benefits platform that connects employer-sponsored members to fertility, family-building, and midlife care across 195+ countries, serving 1,200+ employer and payer customers with proprietary AI, pharmacy, and payment modules.

Ownership category

akta.pro rank

Headquarters

HQ city

Sacramento

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Employer/Plan Sponsor Subscriptions: B2B recurring revenue from employers, health plans, benefit consultants, and unions purchasing Carrot as a sponsored fertility and family-forming benefit for their workforce/members. Carrot serves more than 1,200 employer and payer customers.
2. Pharmacy / Carrot Rx Flex Program: U.S. employer-paid fertility pharmacy benefits revenue stream offering price transparency, drug discounts, and flexible options for fertility treatment medications across all 50 states.
3. Carrot Collective Marketplace: Curated marketplace of fertility and hormonal health products from partner brands (Oura, Function, Eight Sleep, Needed, Mira, Legacy, ExSeed) available to Carrot members globally at no additional cost to employers, accessed through the Carrot app.
4. Platform Distribution via Partners: Revenue from inclusion as a women's health solution in partner platforms such as Transcarent's Experience Store (which delivers 7.6x more referrals to women's health solutions via its AI WayFinding platform).

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels9 records

Core offering

Carrot Fertility is a global fertility and family-building benefits platform sold primarily on a B2B basis to employers, health plans, benefit consultants, and unions, who sponsor Carrot as a workforce benefit covering egg/sperm/embryo freezing, IVF/IUI, gestational surrogacy, adoption, pregnancy and postpartum, parenting, menopause, and men's health for their employees and dependents. The platform connects members to 17,000+ eligible providers across 195+ countries with 24/7 expert support, and is augmented by Carrot Intelligence AI, Carrot Rx pharmacy benefits, Carrot Card payment product, Carrot Sprints metabolic-health coaching, the Carrot Collective marketplace, a Telemedicine for Menopause virtual clinic, OB/GYN-delivered early-stage fertility care, and partnership-enabled modules for pediatric telemedicine and pelvic floor therapy.

Product overview

Carrot Fertility operates as a single global fertility and family-building benefits platform augmented by a portfolio of specialized modules. The core Carrot Fertility Platform coordinates culturally competent care across 195+ countries and member journeys including egg/sperm/embryo freezing, IVF/IUI, gestational surrogacy, adoption, pregnancy and postpartum, parenting and return to work, menopause, and men's health. Layered on top of the core platform are add-on modules: Carrot Intelligence (the proprietary global AI platform that powers personalized guidance, billing anomaly detection, treatment pathway optimization, and predictive analytics across Carrot's clinical dataset), Carrot Rx (fertility medication benefits), Carrot Card (a Visa commercial payment product powered by Stripe / Airwallex), Sprints: Supporting Fertility and Sprints: Supporting Menopause (AI-supported metabolic-health coaching that integrates with Apple HealthKit, Android Health Connect, and Withings), the Carrot Collective marketplace (curated fertility and hormonal health products from partners such as Oura, Function, Eight Sleep, Needed, Mira, Legacy, and ExSeed), the Telemedicine for Menopause virtual clinic, the AI-powered Global Price Monitoring System, OB/GYN-delivered early-stage fertility care, and partnership-enabled modules for pediatric telemedicine (Blueberry Pediatrics) and pelvic floor therapy (Origin). Together these products form an integrated B2B2C benefits platform sold to more than 1,200 employers and payers worldwide.

Differentiator

Problem solved

Functional benefit

Brands

• Carrot Rx: Single-source fertility medication needs platform, including the 'Flex Program' for U.S. employer pharmacy benefits.
• Carrot Card
• Carrot Intelligence
• Carrot Sprints
• Carrot Collective

Products and services

• Carrot Fertility Platform Core global fertility and family-forming benefits platform providing culturally competent care in 195+ countries for egg/sperm/embryo freezing, IVF/IUI, gestational surrogacy, adoption, pregnancy, postpartum, parenting, menopause, and men's health, with 17,000+ eligible providers and 24/7 expert support. Sold to employers, health plans, benefit consultants, and unions to sponsor as a workforce benefit.
• Carrot Intelligence Proprietary global AI platform built on the largest proprietary clinical dataset in the fertility category (195 countries), delivering hyper-personalized guidance, earlier IVF interventions, billing anomaly detection, treatment pathway optimization, care navigation, and predictive analytics for Carrot members.
• Carrot Rx Single-source fertility medication benefits program providing price transparency, drug discounts, and flexible options for fertility treatment medications across all 50 U.S. states via the Flex Program. Sold to U.S. employers as part of the fertility benefits package.
• Carrot Card Visa commercial card product for paying fertility care worldwide, powered by Stripe and issued by Celtic Bank / Community Federal Savings Bank (Member FDIC), with international payments supported by Airwallex. Provides localized currency and language support across 195+ countries.
• Carrot Sprints: Supporting Fertility First-and-only metabolic-fertility coaching program providing personalized guidance on nutrition, physical activity, sleep, and stress management to improve fertility outcomes during the 'Premester' window (3–12 months before pregnancy). AI-supported personalization with human moderators on de-identified inputs.
• Carrot Sprints: Supporting Menopause Lifelong metabolic-health support program for members navigating menopause, extending Carrot's metabolic-health coaching model beyond fertility care into midlife care.
• Carrot Collective Curated marketplace offering fertility and hormonal health products and services from clinically vetted partners (Oura, Function, Eight Sleep, Needed, Mira, Legacy, ExSeed) to Carrot members globally at no additional cost to employers. Accessed through the Carrot app.
• Telemedicine for Menopause Virtual clinic providing menopause and midlife health care, including medications, aimed at improving access and reducing costs for members navigating menopause.
• Global Price Monitoring System AI-powered monitoring system that detects billing fraud and price discrepancies in global fertility care by analyzing claims data across more than 50 currencies to protect employer investments in cross-border fertility services.
• OB/GYN-Delivered Early-Stage Fertility Care First plan-sponsored fertility benefit in the U.S. to formally cover early-stage fertility care (initial evaluations, diagnostic workups, monitoring) delivered by board-certified OB/GYNs, using Carrot Intelligence to securely connect clinical data between OB/GYNs, reproductive endocrinologists, and the Carrot care team.
• Pediatric Telemedicine (Blueberry Pediatrics) On-demand 24/7 pediatric telemedicine offering for families with children under 12, including virtual care and home diagnostic kits, aimed at reducing healthcare costs, improving productivity, and decreasing unnecessary emergency visits.
• Pelvic Floor Therapy (Origin partnership) Integrated pelvic floor therapy program combining virtual and in-person care delivered through partnership with Origin, expanding Carrot's pelvic health support across fertility, pregnancy, postpartum, and menopause.

Quantifiable outcome

• 94.6% IVF success rate vs. 74% national benchmark
• +7 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability11 records

Feature7 records

Partnerships

20 partnerships are on record, tiered medium and high.

• Amazon Health (third-party benefit storefront)mediumChannel Partner/ Reseller/ Distributor · 1 June 2026Some employers offer Carrot through Amazon Health's third-party benefit storefront; Carrot receives limited eligibility information and shares back status updates so dashboards reflect real-time benefit information.
• UHC Store (UnitedHealthcare benefit storefront)mediumChannel Partner/ Reseller/ Distributor · 1 June 2026Carrot is offered through the UHC Store as a third-party benefit storefront; similar eligibility and status data exchange as Amazon Health integration.
• WithingsmediumTechnology or Integration · 1 June 2026Withings scales integrate with Carrot Sprints metabolic-health program as a connected data source (e.g., weight, body composition) for personalized coaching under member consent.
• Apple HealthKitmediumTechnology or Integration · 1 June 2026Carrot Sprints integrates with Apple HealthKit as a connected health data source for personalized coaching on metabolic-health goals.
• Android Health ConnectmediumTechnology or Integration · 1 June 2026Carrot Sprints integrates with Android Health Connect as a connected health data source for personalized coaching on metabolic-health goals.
• Stripe (payments)mediumTechnology or Integration · 1 June 2026Stripe powers Carrot Card Visa Commercial cards, processing payments for fertility care worldwide.
• Airwallex (payments)mediumTechnology or Integration · 1 June 2026Airwallex US, LLC (NMLS #1928093) issues and manages Carrot Card Visa Commercial cards and supports U.S. payment services for Carrot customers.
• OriginhighStrategic or Co-development Partner · 30 April 2026Carrot partnered with Origin, a national provider of pelvic floor physical therapy, to deliver integrated pelvic floor therapy programs to Carrot members via employer benefits. Combines virtual and in-person care to address underdiagnosis of pelvic floor dysfunction; claims cost savings of over $3,000 per patient annually. Expands Carrot's pelvic health support across fertility, pregnancy, postpartum, and menopause — relevant for 85% of Carrot members reporting pelvic floor symptoms.
• Salesforce (joint customer/partner)mediumOthers · 22 April 2026Salesforce partners with Carrot (and Progyny) to offer fertility care to its employees, alongside Lyra Health/BetterUp (mental health) and Bright Horizons/Cleo (childcare/parenting). Salesforce serves as both a marquee customer and a co-promotion reference point.
• Blueberry PediatricshighStrategic or Co-development Partner · 18 February 2026Carrot added 24/7 on-demand pediatric telemedicine with Blueberry Pediatrics for families with children under 12. The service provides unlimited access to pediatricians and includes home medical kits, aiming to reduce pediatric ER visits (saving $1,100+ per ER visit) and improve workplace productivity. Covered by plan sponsors and rolled out in the coming months after the February 2026 announcement.
• OurahighTechnology or Integration · 4 February 2026Oura established Carrot as one of its women's health partner platforms to integrate biometric data (temperature trend tracking, sleep data, activity metrics) with Carrot's fertility, postpartum, and family-forming insights. Also a launch partner of the Carrot Collective curated marketplace.
• FunctionmediumGTM or Marketing Partner · 5 December 2025Function is one of seven launch partners of the Carrot Collective curated marketplace offering fertility and hormonal health products to Carrot members globally at no additional cost to employers.
• Eight SleepmediumGTM or Marketing Partner · 5 December 2025Eight Sleep is one of seven launch partners of the Carrot Collective curated marketplace, providing smart mattress products to Carrot members globally.
• NeededmediumGTM or Marketing Partner · 5 December 2025Needed is one of seven launch partners of the Carrot Collective curated marketplace, offering fertility and hormonal health supplements to Carrot members globally.
• MiramediumGTM or Marketing Partner · 5 December 2025Mira is one of seven launch partners of the Carrot Collective curated marketplace, offering at-home fertility monitoring devices to Carrot members globally.
• LegacymediumGTM or Marketing Partner · 5 December 2025Legacy is one of seven launch partners of the Carrot Collective curated marketplace, providing male fertility services/products to Carrot members globally.
• ExSeedmediumGTM or Marketing Partner · 5 December 2025ExSeed is one of seven launch partners of the Carrot Collective curated marketplace, providing male fertility products to Carrot members globally.
• Elevate BabymediumStrategic or Co-development Partner · 17 November 2025Elevate Baby and Carrot partnered to make family-building more accessible — providing Carrot members with discounts and exclusive access to Elevate's reproductive services, emphasizing accessibility and personalized care.
• TranscarenthighChannel Partner/ Reseller/ Distributor · 19 October 2025Carrot is a women's health partner inside Transcarent's Experience Store (alongside Maven Clinic, Midi Health, Progyny, and Kindbody). The Store uses generative AI-powered WayFinding technology and reportedly delivers 7.6x more referrals to women's health solutions; Transcarent serves 1,700+ employers/health plans covering ~20 million people.
• Guardian Life InsurancehighChannel Partner/ Reseller/ Distributor · 23 June 2025Guardian integrated Carrot's fertility and family-building services into its hospital indemnity insurance policy — becoming the first carrier to include fertility health and family-building directly in hospital indemnity insurance. Provides Guardian policyholders personalized guidance, educational resources, and access to 900+ clinics in the U.S. for fertility, urology, and menopause.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Progyny: Public fertility and family-building benefits platform sold to employers and health plans, offering a curated provider network and managed-care services. Progyny is Carrot's most direct head-to-head competitor in enterprise fertility benefits RFPs.
• Maven Clinic: Virtual care platform for women's and family health (fertility, maternity, pediatrics, menopause) sold to employers and health plans. Maven is a direct competitor in the family-building benefits category and a co-partner inside Transcarent's Experience Store alongside Carrot.
• Kindbody: Hybrid fertility clinic operator and employer benefits provider (acquired WINFertility). Kindbody competes with Carrot for employer fertility benefits contracts and is also co-listed in Transcarent's Experience Store.
• WINfertility (now part of Kindbody): Pre-acquisition, WINFertility was a leading fertility benefits administrator serving employers and health plans. Although now part of Kindbody, it remains a directly comparable benefits-management model to Carrot's employer B2B offering.

Emerging players

• Stork Club: Fertility and family-building benefits platform serving employers with a flexible, modular benefit design. Stork Club is a smaller emerging competitor in the same employer-purchased fertility benefits category.
• Halle Tecco / Natalist (adjacent: digital women's health): Consumer-facing preconception and fertility health brand. While not a direct B2B benefits competitor, Natalist represents the broader digital women's and fertility health category in which Carrot's Carrot Collective marketplace partners operate.
• Cleo: Family benefits platform covering parenting, returning-to-work, and child care support, sold to employers (also a Salesforce partner). Cleo competes for the same employer family-building benefits wallet, with overlapping parenting and return-to-work offerings.

Broad incumbents

• Ovia Health (Labcorp): Women's and family health platform (now owned by Labcorp) sold to employers and health plans for maternity, fertility, and family benefits. Overlaps with Carrot in women's/family benefits sold to large employers and payers.
• Modern Health: Global mental health benefits platform sold to employers (and a named Carrot customer). Competes for employer benefits wallet share, frequently co-bundled with fertility benefits, and an indirect competitor in the 'whole-person' benefits category.
• Lyra Health: Mental health benefits platform sold to employers (referenced as a Salesforce mental-health partner alongside Carrot). Competes for the same employer benefits budget on adjacent clinical categories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/CarrotFertility
• YouTubeyoutube.com/@CarrotFertility
• Facebookfacebook.com/carrotfertility
• LinkedInlinkedin.com/company/carrot-fertility
• Instagraminstagram.com/carrotfertility

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carrot