-16%

est. 2Y upside i

HealthcareSeries D+

Online mental health platform for therapy and medication management

Rank

#3252

Sector

Telehealth

Est. Liquidity

~3Y

Data Quality

Data: Medium

Expected equity upside is -15.5% over 2 years, with high risk of total loss in bear case.

Last updated: July 3, 2026

Bull (10%)+98%

Exit multiple expands to 4x on projected revenue of $310.5M, driven by IPO window or category leadership. Net of 20% dilution, upside is 98.4%.

Base (45%)+44%

Exit multiple converges to 3x (mid of comp range) on $310.5M revenue. After 20% dilution, upside is 43.8%.

Bear (45%)-100%

Exit multiple compresses to 1.5x, implied value $465.8M below $487M preferred liquidation preference, wiping out common stock.

Est. time to liquidity~3.0 years

Preference Stack Risk

severe

Funding Intensity

21640%

Total funding of $487M is 85.6% of current valuation, meaning common stock is highly junior.

Dilution Risk

high

Latest round of $25M in July 2025 suggests limited runway; a larger raise likely required within 2 years, diluting common shareholders by 15-25%.

Secondary Liquidity

limited

Secondary market exists (valuation source), but employee liquidity options are typically restricted until a major event.

Other — 2 roles

View all 2 open roles at Cerebral →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Cerebral's data — designed to show you've done your homework.

  • 1

    “How does Cerebral plan to defend against large incumbents like UnitedHealth and Cigna entering the telehealth space?”

  • 2

    “What is the current cash burn rate and how does it affect the timeline to profitability or need for additional funding?”

  • 3

    “Given the low secondary valuation, what is management's strategy to restore investor confidence and achieve a liquidity event?”

Community

Valuation Sentiment

Our model estimates -16% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.