“We had these awesome benefits around everything from food to transportation to healthcare, but there was nothing for this,” Sun recalls of spending over $30,000 of her own money on egg freezing, a procedure that has tripled in popularity in the last five years. “There was such a mismatch between what I consider healthcare and what the system considered healthcare.”
Meanwhile, tech stalwarts such as Facebook and Apple offered such benefits, solidifying the idea that fertility care was a luxury reserved for top-tier companies. The disparity inspired a frustrated Sun to launch Carrot Fertility, which works closely with employers to offer affordable and customizable fertility care benefit programs that include IVF, surgery, and egg freezing.
Since its 2016 founding, the San Francisco-based startup raised $3.5 million in funding and now works with dozens of employers, ranging from small finance and legal firms in the Midwest to Silicon Valley giants like Foursquare.
“There’s a huge part of the the economy in the middle market where these types of benefits should be available,” stresses Sun. “It should be considered a basic part of healthcare.”
“This Is Something That Matters To A Lot Of People.”
Carrot Fertility is just one of dozens of fertility startups that emerged in the last few years as female founders draw greater attention to the issue. As, for the first time, the majority of new moms in the U.S. are over 30, medical intervention becomes a more pressing reality for couples. The CDC’s National Survey of Family Growth found that over 7 million women (that’s 12% of American women of reproductive age) have sought fertility treatment services.
That means an influx of startups dedicated to a host of issues surrounding the complexity that involves starting a family: ovulation tracking, ovarian reserve testing, programs to make the process more accessible, and more. As such, the global fertility services market is expected to grow to $21 billion by 2020, with an annual growth rate of almost 9%, according to a Technavio research report.
Source : https://www.fastcompany.com/40521525/fertility-tech-is-worth-billions-and-investors-are-finally-paying-attention