Cerebral (company)
| Company type | Private |
|---|---|
| Industry | Telehealth, Mental Health |
| Founded | 2020 |
| Founder | Kyle Robertson, Ho Anh |
Key people |
|
| Services | Online mental health care |
| Website | cerebral |
Cerebral Inc. is an American telehealth company that provides online mental health services, including therapy, counseling, and medication management for various mental health conditions.
History
[edit]Cerebral was founded in 2020 by Kyle Robertson and Ho Anh.[1][2] The company quickly scaled its operations across the United States and grew its network to include thousands of licensed clinicians.[3]
Early on, Cerebral partnered with gymnast and Olympic gold medal winner Simone Biles as their Chief Impact Officer.[4]
In June 2021, the company raised $127 million, and was valued at $1.2 billion.[5][6] In December 2021, Cerebral raised $300 million in a Series C funding round led by SoftBank Vision Fund 2, boosting the company’s valuation to approximately $4.8 billion.[7] The round included investors such as Prysm Capital, Access Industries, and WestCap Group.[8][9]
In 2022, Cerebral came under scrutiny for its prescribing practices, particularly concerning controlled substances such as Adderall. The U.S. Department of Justice (DOJ) began investigating potential violations of the Controlled Substances Act. In response, Cerebral announced that it would cease most prescriptions of controlled substances.[10][11]
After Kyle Robertson's exit, in May 2022, Cerebral experienced major setbacks, including workforce reductions and strategic shifts, amid regulatory scrutiny and financial pressures.[12][13][14] Kyle Robertson has since gone on to found Zealthy, a telemedicine company.[15] David Mou, stepped in as CEO in mid-2022, who was formerly the company’s chief medical officer.
In November 2024, Cerebral eventually agreed to pay $3.65 million to resolve the DOJ probe.[16]
Mou stepped down as CEO in December 2024. Brian Reinken, a former board member, has since stepped in as the interim CEO. [17]
Services
[edit]Cerebral provides online mental health services including therapy, psychiatric evaluations, medication management, and ongoing support. The platform uses a subscription model and employs telehealth technology to match users with licensed therapists and prescribers.[18]
See also
[edit]References
[edit]- ^ "Startup Gambles on Treating Mental Health Online". Bloomberg. 2020-01-08.
- ^ "Startup Cerebral Soared on Easy Adderall Prescriptions. That Was Its Undoing". WSJ. 2022-06-08. Retrieved 2025-05-06.
- ^ "Cerebral in a new era with focus on clinical quality, CEO says". Fierce Healthcare. 2022-06-10. Retrieved 2025-04-18.
- ^ Radnofsky, Louise. "Simone Biles Executes a Tricky New Move: Mental-Health Champion". WSJ. Retrieved 2025-05-06.
- ^ Gormley, Brian (2021-06-10). "Cerebral Raises $127 Million, Adds to Mental-Health Funding Surge". Wall Street Journal. ISSN 0099-9660. Retrieved 2025-05-06.
- ^ "Mental-Health Startup Cerebral Nabs $1.2 Billion Valuation". Bloomberg.com. Archived from the original on 2022-01-31. Retrieved 2025-05-06.
- ^ Gormley, Brian (2021-12-08). "SoftBank Leads $300 Million Investment in Mental-Health Startup Cerebral". Wall Street Journal. ISSN 0099-9660. Retrieved 2025-05-06.
- ^ "Mental health startup Cerebral gets SoftBank funding, valuation surges to $4.8 bln". Reuters via Yahoo Finance. 2021-12-08. Retrieved 2025-04-18.
- ^ "SoftBank backs mental health app Cerebral, giving it $4.8B valuation". MedCity News. 2021-12-08. Retrieved 2025-04-18.
- ^ Livingston, Blake Dodge, Shelby. "Leaked email: Mental-health startup Cerebral will stop prescribing most controlled drugs like Xanax and Adderall". Business Insider. Retrieved 2025-05-06.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ Landi, Heather (2022-05-04). "Truepill, Cerebral halt prescriptions for ADHD medications". www.fiercehealthcare.com. Retrieved 2025-05-06.
- ^ "Cerebral cuts staff for 2nd time in 2022". Modern Healthcare. 2022-10-24. Retrieved 2025-05-06.
- ^ Landi, Heather (2022-06-02). "Cerebral announces layoffs as part of operational restructure". www.fiercehealthcare.com. Retrieved 2025-05-06.
- ^ "Cerebral's WestCap Consulting Deals Targeted in Lawsuit". bloomberg.com. 2024-04-03.
- ^ Content, Sponsored (2017-05-19). "Patients Are Choosing Zealthy—Here's Why It's a Healthcare Favourite". Fast Company. Retrieved 2025-05-06.
- ^ "Telehealth company Cerebral to pay $3.65 mln to resolve probe of Adderall sales". Reuters. 2024-11-05.
- ^ "The former CEO of troubled startup Cerebral has a new project: another mental health company". Business Insider. 2025-03-04. Retrieved 2025-04-18.
- ^ "Digital mental health subscription service Cerebral lands $35M". MobiHealthNews. 2020-10-07. Retrieved 2025-04-18.