EDGE
Get a demo
Log In

Cerebral

Mental Health Tech
Segments:
Telepsychiatry/Teletherapy Platforms
?
Product stage:
Growth
?

Cerebral is a telepsychiatry platform that provides access to online psychiatrists and medicine for anxiety, depression, insomnia, and attention deficit hyperactivity disorder (ADHD). The company's Medication + Basic therapy plan charges a monthly fee of USD 99 for its services but offers a discounted fee of USD 45 for the first month. Members fill out a form to help identify their symptoms, connect with a psychiatrist over a video call, and get access to a care counselor. After the first visit, members will get a monthly delivery of their prescriptions, the opportunity to chat with a care counselor, and access to a psychiatrist as required. As of February 2022, Cerebral had served more than 420,000 patients since its inception in January 2020 and had a network of more than 2,000 healthcare providers across all 50 states as of December 2021.

In May 2022, the company announced a new transformation program for the company, which will focus on growth and patient experience, named “Cerebral Core.” The program includes objectives for reviewing quality practices while enhancing user and clinician experiences. This is in response to the company being investigated by several government authorities such as the Federal Trade Commission , the Department of Justice and the DEA . These investigations followed after a report by Bloomberg found the company’s prescribing practices to be too lenient. Since the investigations began, Cerebral paused , and then subsequently halted , issuing prescriptions. Following this, the company replaced its CEO .

Funding and financials

Cerebral raised USD 300 million in Series C funding in December 2021 led by SoftBank Vision Fund 2. The latest funding round brought total funds raised to USD 462 million and nearly quadrupled its valuation to USD 4.8 billion from USD 1.2 billion in June 2021. The funds will be directed toward pursuing mergers and acquisition prospects and expanding its offering in 2022 to include conditions such as schizophrenia. It also plans to build on its partnerships with single-payer health care systems, provide self-guided tools, and grow its international footprint by entering into new markets in Europe.

Mental Health Tech

Mental Health Tech

Key stats
Featured companies
189
Total funding (USD)
11.0 Bn
Total addressable market (USD)
94.3 Bn
Key competitors
 
Loading...
Loading...
Loading...
Loading...
Product Overview
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
Product Metrics
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
Company profile
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...

Recent Updates

Industry news
Feb 27, 2023
DEA proposed telemedicine laws could prove to be restrictive for online prescribers
Telehealth
Industry news
Feb 27, 2023
DEA proposed telemedicine laws could prove to be restrictive for online prescribers
Mental Health Tech
Regulation/policy
Jun 15, 2022
Federal Trade Commission opens up investigation into Cerebral
Mental Health Tech
Product updates
May 25, 2022
Cerebral announces transformation plan; Walmart and CVS to stop filling prescriptions
Mental Health Tech
Management news
May 18, 2022
Cerebral CEO asked to step down; company president and CMO to fill position
Mental Health Tech
Product updates
May 17, 2022
Cerebral halts prescriptions of most controlled substances for all patients
Mental Health Tech

Company Brief


HQ location:
181 2nd St San Francisco CA USA
Founded year:
2020
Employees:
1,001-5,000
Total Funding:
USD 462.0 million
Last Funding
USD 300.0 million, Dec 2021

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
arrow
menuarrow
Click here to learn more
Get a demo

By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.