Carrot Inc. Raises $25M
Digital health company Carrot Inc. has announced a $25m funding round led by JJDC with participation from New York Life Ventures; to name one.
The Redwood City, CA-based company, established in 2015, is the developer behind Pivot, a tech-enabled platform that uses an FDA-cleared carbon monoxide breath sensor, a mobile app, in-app coaching, pharmacotherapy, and community to encourage users to quit smoking.
“Quitting smoking greatly reduces chances of developing smoking-related diseases, yet successful quit attempts require a multi-disciplinary approach. Given Johnson & Johnson’s expertise across its medical device, consumer health and wellness, and pharmaceutical sectors, we are excited to have JJDC lead this round as we believe it takes a concerted healthcare approach to address the consequences of smoking on a global scale. We’re also pleased to have the funding of New York Life Ventures and the continued confidence of our existing investors. Their support furthers our mission to help millions of people to quit smoking.” – President and CEO, David Utley.