Carrot Fertility
Global employer fertility benefits platform processing nearly $1B in fertility, family-building, and maternity claims across 50+ currencies, with a growing AI layer for fraud detection and care optimization.
Menlo Park, CA
2016
$115M
$500M
Employer Benefits, Self-Pay
What They Do
Carrot Fertility provides employer-sponsored fertility and family-building benefits, enabling employees to access IVF, egg freezing, donor services, surrogacy, adoption, and maternity support through a managed benefits platform. The business model is overwhelmingly B2B, selling benefits programs to employers and, increasingly, health plans; self-pay exposure comes mostly through out-of-pocket services layered around those employer pathways rather than a large standalone consumer channel. Carrot’s global claims and reimbursement infrastructure is a differentiator, particularly for cross-border fertility care and multinational employers. Its newer maternity and pediatric partnerships extend the platform beyond conception without changing the core employer-benefits revenue engine.
Competitive Position
Carrot competes with maven-clinic (DTC and employer maternity/fertility), progyny (fertility benefits, publicly traded), and kindbody (clinic-based fertility). Carrot's international claims infrastructure and maternity claims processing are differentiators not matched by domestic-only peers. PHD scope note: Carrot's primary identity is employer fertility benefits; PHD tracks Carrot because its maternity claims data and maternity-adjacent products intersect the maternal health tech space, but Carrot is not a maternal-pediatric care delivery company per se.