Funding round
Cerebral Series C
Cerebral, which works in telehealth mental health services in Claymont, raised $300M in a Series C round announced on 8 Dec 2021, led by SoftBank Vision Fund and SoftBank, at a $4.80B post-money valuation. 6 firms took part, with 1 individual investor. It is Cerebral's third venture round on record; the one before was a Series B in Jun 2021.
$300M
Amount raised
$4.80B
Post-money valuation
$4.50B pre-money
6
Investors
2 leads
4.0x
Step-up from the Series B
$1.20B in Jun 2021
6.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Cerebral at $4.80B after the new money, 4.0 times the $1.20B of its Series B (Jun 2021). The $300M bought investors about 6.3% of the company. It came 6 months after Cerebral's Series B. It is 65% of the $462M Cerebral has raised in the venture rounds on record. No later venture round is on record for Cerebral.
Investors
Who put money in
SoftBank Vision Fund and SoftBank led the round with 4 other firms.
Lead investors
- SoftBank Vision Fund backs 234 venture-backed companies new investor
- SoftBank
Also in the round
- backs 18 venture-backed companies new investor
- Access Industries new investor
- WestCap backs 36 venture-backed companies new investor
- backs 33 venture-backed companies new investor
Individual investors: Simone Biles.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
7 Series C rounds in Psychologists & Counseling Services within a year either side disclosed an amount; the median was $60M, and this round was 5.0 times the median. The closest in time, other companies' Series C rounds in Psychologists & Counseling Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Spring Health Psychologists & Counseling Services | 16 Sep 2021 | $190M | $2.00B | Kinnevik |
| Psychologists & Counseling Services | 29 Mar 2022 | $105M | $705M | KKR |
| Psychologists & Counseling Services | 1 Sep 2021 | $80M | not disclosed | Sofina and Temasek |
| Psychologists & Counseling Services | 31 Aug 2021 | $50M | not disclosed | Insight Partners |
| Psychologists & Counseling Services | 29 Jun 2021 | $60M | not disclosed | Longitude Capital |
| Psychologists & Counseling Services | 27 Oct 2022 | $52M | not disclosed | not named |
| Psychologists & Counseling Services | 15 Dec 2020 | $51M | $500M | Battery Ventures |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Cerebral raise in its Series C round?
Cerebral raised $300M in its Series C round, announced in Dec 2021.
Who led Cerebral's Series C round?
SoftBank Vision Fund and SoftBank led it, with Prysm Capital, Access Industries, WestCap and Artis Ventures.
What was Cerebral's valuation at the Series C round?
$4.80B post-money ($4.50B pre-money).
How does it compare with other Series C rounds in Psychologists & Counseling Services?
7 Series C rounds in Psychologists & Counseling Services within a year either side disclosed an amount; the median was $60M, and this round was 5.0 times the median.