Sunfish founder Angela Rastegar understands the steep financial toll of pursuing fertility care without a safety net. During her tenure as a director at North Star Fertility, Rastegar underwent four egg retrievals to build an embryo reserve, paying upwards of $50,000 completely out of pocket with zero guarantees of a successful pregnancy.

Historically, the fertility sector has operated on a transactional, single-attempt model where patients shoulder the entire economic burden. Established in Los Angeles in 2022, Rastegar's startup, Sunfish, leverages clinical data and artificial intelligence to forecast the total expenses of a patient's family-building journey. The company then backs these pricing estimates with financial refunds and complimentary subsequent cycles. However, a more critical narrative lies in how Sunfish addresses demographics where its predictive algorithms have the least visibility—a hurdle that every femtech AI enterprise must eventually confront.

How Sunfish Prices The Path To A Baby

Sunfish relies on foundational metrics that fertility clinics routinely gather during initial evaluations. According to Rastegar, the predictive model integrates over two million data points sourced from partner clinics, encompassing blood panels, uterine imaging, general wellness indicators, and semen analysis. Additionally, clients have the option to sync biometric data from wearable devices like Oura and Whoop upon providing explicit consent.

This information feeds into a customized financial blueprint. Individuals pursuing egg freezing might receive a target threshold of six to nine eggs, with provisions for a complimentary second cycle if initial targets are not met. Meanwhile, IVF participants pay a fixed, all-inclusive rate that spans every embryo transfer throughout their membership duration, alongside a partial reimbursement reaching up to $15,000 if a live birth is not achieved within the forecasted budget. Rastegar emphasizes their commitment, stating they put their money where their mouth is.

Operating strictly as a third-party navigator rather than a direct medical provider or lending institution, Sunfish collaborates with roughly 15 external lenders for financing. Rastegar describes the organization's function as akin to a college admissions counselor for family planning. Furthermore, participants must utilize facilities within Sunfish's curated network of preferred providers, which undergo strict vetting regarding lab standards, reporting transparency, and historical success rates.

Medical professionals recognize the value of this approach. Dr. Julie Lamb, medical director at Pacific Northwest Fertility—which integrated Sunfish packages in 2024—notes that helping patients manage the financial complexities of treatment has become a vital component of clinical operations.

Where The Fertility Data Runs Thin

Predictive analytics are entirely dependent on the quality of underlying data, a limitation Rastegar openly acknowledges. She points out that the model's accuracy diminishes for older demographics due to scarcer data availability, and current iterations do not adjust for ethnicity given similar informational gaps. Within the platform, patients aged 40 and above are classified as older. Conversely, the algorithm maintains robust datasets for conditions like endometriosis and Polyendocrine Metabolic Ovarian Syndrome (PMOS).

These systemic blind spots reflect broader industry trends. National statistics published by the Society for Assisted Reproductive Technology (SART) indicate a sharp decline in IVF efficacy correlated with advancing age. Racial disparities present another challenge; a 2020 review published in Reproductive Biology and Endocrinology highlighted an analysis of SART data from 2014 to 2016, revealing that Black women experienced lower live birth probabilities compared to white women, even after controlling for confounding variables.

This highlights a fundamental dilemma facing AI applications in women's health: individuals who require financial security the most are frequently those least understood by current algorithms. Sunfish addresses this by onboarding these patients regardless, utilizing their real-world trajectories to refine the predictive engine over time. Rastegar notes that a core pillar of their mission is broadening access to fertility treatments for diverse communities, thereby enriching datasets for the benefit of all.

Pricing Uncertainty Instead Of Screening It Out

Unlike traditional IVF refund initiatives that mitigate risk by excluding applicants based on age, ovarian reserve markers, or past treatments, Sunfish adopts a more inclusive stance. The platform admits every applicant into its IVF program, absorbing the financial variability directly into the package structure. Its egg-freezing protection plan is more selective, with the company reporting a 73% qualification rate for applicants.

Absorbing such financial exposure demands robust capital reserves. Rastegar explains that reimbursements are drawn from an isolated capital reserve and distinct bank account. An independent actuarial firm audited the pricing framework in 2024, utilizing back-testing across thousands of modeled patient portfolios to confirm that pricing thresholds and refund structures operated within a 97% confidence interval.

Sunfish data indicates that 79% of its IVF participants aged 40 and younger successfully achieved pregnancy, significantly outperforming the 54.3% national average benchmark reported by SART. Rastegar attributes this performance to rigorous clinic vetting, comprehensive financial planning that prevents treatment abandonment, and continuous emotional support.

Investors view this convergence of healthcare and financial technology as transformative. Jessica Peltz-Zatulove, founding partner at Hannah Grey VC and an early investor in Sunfish, notes that families routinely confront the simultaneous, daunting challenges of medical and financial uncertainty. Patients similarly emphasize the human element, with Salt Lake City resident Amanda Freeman recalling that the support system never felt transactional throughout her IVF journey with Sunfish.

What Comes Next For Sunfish

The company is steadily expanding its footprint upstream. Introduced in August, Sunfish Starts is a six-month digital curriculum tailored for individuals contemplating parenthood, encompassing natural conception strategies and male fertility assessments. Members gain access to diagnostic tools and wellness products through strategic collaborators like Quest, Evvy, and Fellow. Rastegar expresses optimism that a significant portion of these participants will successfully avoid the need for advanced clinical interventions.

This multifaceted scope complicates traditional categorizations. Rejecting labels as merely a lender, healthcare provider, or women's wellness brand, Rastegar defines Sunfish as a technology enterprise. Olivia Baribeau, principal at Haymaker Ventures—the firm that spearheaded Sunfish's $10 million Series A funding round on January 23, 2025—notes that the company is introducing fintech innovation to one of the most complex financial sectors in medicine. With total capital raised reaching $15 million and membership sales surging past fourfold growth since the funding announcement, Rastegar hints at preparations for a subsequent funding round.

Ultimately, the enterprise remains deeply rooted in the unanswered questions Rastegar faced while funding her own medical procedures: whether she was investing the correct amount, selecting the appropriate clinic, and properly preparing her body. Sunfish operates on the premise that data-driven insights and financial backing can resolve these uncertainties. The ultimate measure of its success will be whether it can deliver those answers just as effectively for the demographic groups its algorithms currently understand the least.