Funding round
Cerebral Series B
Cerebral, which works in telehealth mental health services in Claymont, raised $127M in a Series B round announced on 10 Jun 2021, led by Access Industries, at a $1.20B post-money valuation. 11 firms took part, with 2 individual investors. It is Cerebral's second venture round on record; the one before was a Series A in Oct 2020.
$127M
Amount raised
$1.20B
Post-money valuation
$1.07B pre-money
11
Investors
1 lead
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Cerebral at $1.20B after the new money. The $127M bought investors about 11% of the company. It came 8 months after Cerebral's Series A. It is 27% of the $462M Cerebral has raised in the venture rounds on record. Cerebral raised again 6 months later: a Series C round of $300M in Dec 2021, at $4.80B post-money.
Investors
Who put money in
Access Industries led the round with 10 other firms.
Lead investor
- Access Industries new investor
Also in the round
- Silver Lake Waterman new investor
- backs 33 venture-backed companies new investor
- Oak HC/FT backs 106 venture-backed companies new investor
- WestCap backs 36 venture-backed companies new investor
- AirAngels new investor
- new investor
- Celtic House Asia Partners new investor
- backs 227 venture-backed companies new investor
- backs 2 venture-backed companies
- backs 6 venture-backed companies
Individual investors: Bill Ackman and Chris Burch. Joined the board: Nami Park (Access Industries).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
13 Series B rounds in Psychologists & Counseling Services within a year either side disclosed an amount; the median was $50M, and this round was 2.5 times the median. The closest in time, other companies' Series B rounds in Psychologists & Counseling Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Psychologists & Counseling Services | 16 Jun 2021 | $72M | not disclosed | GV |
| Psychologists & Counseling Services | 4 May 2021 | $70M | $750M | Andreessen Horowitz |
| Psychologists & Counseling Services | 12 May 2021 | $47M | not disclosed | EQT Ventures |
| Psychologists & Counseling Services | 25 May 2021 | $20M | not disclosed | Health Velocity Capital |
| Psychologists & Counseling Services | 20 May 2021 | $10M | not disclosed | Eight Roads |
| Psychologists & Counseling Services | 23 Sep 2021 | $38M | not disclosed | Industry Ventures |
| Psychologists & Counseling Services | 2 Feb 2021 | $28M | not disclosed | Insight Partners |
| Psychologists & Counseling Services | 23 Nov 2021 | $53M | not disclosed | Morningside |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Cerebral raise in its Series B round?
Cerebral raised $127M in its Series B round, announced in Jun 2021.
Who led Cerebral's Series B round?
Access Industries led it, with Silver Lake Waterman, Artis Ventures, Oak HC/FT, WestCap and AirAngels and 5 more.
What was Cerebral's valuation at the Series B round?
$1.20B post-money ($1.07B pre-money).
How does it compare with other Series B rounds in Psychologists & Counseling Services?
13 Series B rounds in Psychologists & Counseling Services within a year either side disclosed an amount; the median was $50M, and this round was 2.5 times the median.
Did Cerebral raise again after this round?
Yes: a Series C round in Dec 2021 of $300M at $4.80B post-money.