Cerebral launched in January 2020 — just weeks before the pandemic sent demand for mental health services through the roof. The platform offers online therapy, psychiatric evaluations, and medication management for conditions including anxiety, depression, insomnia, and ADHD.
The service works on a subscription model. Patients choose between therapy-only, medication-management-only, or a combined plan. Monthly costs range from roughly $85 to $325 depending on the plan, and Cerebral accepts several major insurance providers. Appointments happen via video call, and prescriptions are sent to the patient’s pharmacy.
Cerebral grew explosively during the pandemic, reaching over 700,000 patients and raising more than $300 million in venture capital at a peak valuation of $4.8 billion. However, the rapid growth brought intense scrutiny.
In 2022, the company faced regulatory investigations and media criticism over its prescribing practices, particularly around controlled substances like stimulants for ADHD. Cerebral responded by tightening prescribing protocols, discontinuing controlled substance prescriptions for new patients, and replacing its CEO. The company also dealt with a data privacy incident involving tracking pixels that shared patient information with advertising platforms.
Despite these setbacks, Cerebral has continued operating and serving patients who struggle to access mental health care through traditional providers. Wait times for in-person psychiatrists often stretch weeks or months, and Cerebral can typically match patients with a provider within days.
The company’s trajectory illustrates both the enormous demand for accessible mental health care and the regulatory complexities that telehealth startups face when scaling rapidly in healthcare.
