Mental-Health Startup Cerebral Nabs $1.2 Billion Valuation

Cerebral Inc., a startup that provides counseling, medication and other mental-health services, has more than quintupled its valuation to $1.23 billion.

The San Francisco-based company raised $127 million in a round led by billionaire Len Blavatnik’s Access Industries, Chief Executive Officer Kyle Robertson said in an interview. Nami Park, an adviser to Access, has joined Cerebral’s board.

New capital will be used to expand services to include group therapy and couples counseling, and to add treatment for PTSD, bipolar disorder, substance abuse, eating disorders, phobias, obesity and diabetes. The company currently treats anxiety, depression, insomnia and ADHD, ...