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US fertility startup Carrot raises $75M to make IVF and egg-freezing more affordable


News is in that San Francisco-based Carrot Fertility, the leading global fertility benefits provider for employers, has raised a $75 million Series C round. The investment was came from Tiger Global. Further, OrbiMed and existing investors including F-Prime Capital, CRV, U.S. Venture Partners and Silicon Valley Bank also participated in the round. 

With this the startup’s total funding came up to $115 million. Founded in 2016 by Tammy Sun and Dr. Asima Ahmad, in the last two years, Carrot has seen its revenue grow 5 times. The startup helps customizing a fertility benefit that offers employees financial, medical, and emotional support as they head towards parenthood.

Carrot’s program includes egg freezing, in vitro fertilization (IVF), adoption, donor and gestational carrier services. They offer a premium pharmacy experience — dubbed as Carrot Rx, and also there’s Carrot Pregnancy; and the Carrot Card, which is a flexible fertility benefits debit card for employees.

Currently, the startup is assisting more than 250 companies including Box, Snap, Inc., and Peloton. Their members also have access to more than 2,000 reproductive endocrinologists, urologists, adoption experts, mental health experts, OB/GYNs, doulas, and more.

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