Total amount raised
$114.2 Millions
Latest funding date
8/1/2021
Location
Carrot Fertility has successfully raised significant funding through multiple rounds, attracting a diverse group of investors including Tiger Global Management and F-Prime Capital. The platform offers comprehensive fertility benefits tailored for employers, supporting a wide range of family-building journeys.
Continue reading to delve into the details of Carrot Fertility's funding journey and discover the key investors backing this innovative healthcare solution.
What Is Carrot Fertility?
Carrot Fertility, founded in 2016, is based in Menlo Park, California. The company was established by Arun Venkatesan, Asima Ahmad, Juli Insinger, and Tammy Sun.
Specializing in fertility healthcare, Carrot Fertility offers a range of services including egg freezing, in vitro fertilization, and adoption support. Their platform is designed to provide comprehensive fertility benefits for employers.
With a team of 251-500 employees, Carrot Fertility aims to support diverse family-building journeys through personalized care and global reach.
How Much Funding Has Carrot Fertility Raised?
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: July 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and launch services.
- Seed Round
- Amount Raised: $120K
- Date: August 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage operations and product development.
- Seed Round
- Amount Raised: $3.6M
- Date: September 2017
- Lead Investors: Uncork Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2018
- Lead Investors: Backstage Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and scale operations.
- Series A
- Amount Raised: $11.5M
- Date: April 2019
- Lead Investors: CRV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand service offerings and enter new markets.
- Series B
- Amount Raised: $24M
- Date: August 2020
- Lead Investors: U.S. Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology infrastructure.
- Series C
- Amount Raised: $75M
- Date: August 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in product development and international growth.
Total Amount Raised: $114.22M. Current Valuation: Not publicly disclosed.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies. They have a strong presence in the internet, software, consumer, and financial technology sectors.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- F-Prime Capital
- Details: F-Prime Capital is a global venture capital firm investing in healthcare and technology. They have a history of backing innovative companies in these sectors.
- Investment Focus Areas: Healthcare, technology.
- Notable Investments: Denali Therapeutics, Beam Therapeutics, Orchard Therapeutics.
- CRV (Charles River Ventures)
- Details: CRV is a venture capital firm that invests in early-stage technology companies. They have a long track record of supporting startups that go on to become industry leaders.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Twitter, Zendesk, DoorDash.
- U.S. Venture Partners
- Details: U.S. Venture Partners is a venture capital firm that invests in healthcare and technology companies. They focus on early and growth-stage investments.
- Investment Focus Areas: Healthcare, technology.
- Notable Investments: Box, Sun Microsystems, Trulia.
- OrbiMed
- Details: OrbiMed is a healthcare-dedicated investment firm with a focus on biopharmaceuticals, medical devices, and healthcare services. They are known for their deep expertise in the healthcare sector.
- Investment Focus Areas: Biopharmaceuticals, medical devices, healthcare services.
- Notable Investments: Amarin Corporation, Reata Pharmaceuticals, Intarcia Therapeutics.
What's Next for Carrot Fertility?
Carrot Fertility is poised to capitalize on the growing demand for comprehensive fertility benefits. With a presence in over 55 countries, the company has a vast market to tap into. The recent $75 million Series C funding will enable Carrot to enhance its product offerings and personalize the member experience, making fertility care more accessible to all genders and sexual orientations.
Future fundraising opportunities seem promising as Carrot continues to expand its services and reach. However, the company may face challenges such as navigating diverse regulatory landscapes and maintaining service quality across regions. Despite these hurdles, Carrot's innovative approach and strong financial backing position it well for sustained growth.
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