The GOAT Effect: Simone Biles-Backed Mental Health Startup Cerebral Now Valued At $4.8B
Photo Credit: Valerie Macon

The GOAT Effect: Simone Biles-Backed Mental Health Startup Cerebral Now Valued At $4.8B

Simone Biles is not only leaving her mark on the world of just gymnastics but the world of technology as well.

AfroTech previously shared that the Olympic star partnered with Cerebral — the leading online mental health provider — as its Chief Impact Officer (CIO) in October 2021.

After being on the team for less than two months, the mental health startup’s value has vaulted to a higher level, InnovationMap reports.

Cerebral's Value

According to the outlet, the San Francisco-based company has raised $300 million in venture capital — taking its value to $4.8 billion.

Cerebral announced the Series C round led by SoftBank Vision Fund 2 on Dec. 8. Fellow investors included Prysm Capital, Access Industries, WestCap Group, and ARTIS Ventures.

The GOAT Effect

By the looks of the numbers, Biles puts the “I” in CIO. Her impact as the face of Cerebral is what one could call the GOAT effect.

Along with her company role, Biles also added an undisclosed amount into the $462 million that it has raised since its inception.

While numbers don’t lie, the main intention behind Biles backing Cerebral is her advocacy for mental health. Following the aftermath of her own personal battle, the professional athlete strives to help make mental health resources more accessible.

“Mental health is just as important as physical health, but for far too long the stigma of mental health has prevented too many people from seeking help,” Biles shared in a statement. “I have my own challenges with mental health, and therapy has been very empowering for me as I try to be the best person that I can be. I believe everyone should have access to mental health resources and Cerebral gives me the ability to personalize my mental health care experience.”

The Root Of The Partnership

As a Cerebral partner, Biles is providing access to mental health resources by financially assisting underserved communities, as well as tackling mental health stigma by encouraging communities to reach out for help.

To learn more about Cerebral, click here.