Cerebral Vet’s New Behavioral Health Venture Raises $6.2M

AdvocateMH, the behavioral health triage company founded by the ex-CEO of troubled mental health provider Cerebral, has raised $6.2 million.

The company was seeking a total of $8 million, according to publicly available documents. Brookline, Massachusetts-based AdvocateMH will focus on behavioral health triage through partnerships with health systems, payers and providers.

“We help individuals navigate the complex behavioral health landscape by connecting them to the right care at the right time – whether that’s therapy, psychiatry, peer support or other resources,” a job posting for the company read. “Our innovative model prioritizes quality, patient experience and seamless care coordination, making mental health more accessible and effective for all.”

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Dr. David Mou, who founded AdvocateMH, will lead the company as CEO. Mou recently stepped down from his position as Cerebral’s CEO but will stay with Cerebral as chief medical officer, Behavioral Health Business reported earlier this month. 

Claymont, Delaware-based Cerebral offers virtual therapy, psychiatry and medication management. Mou took over as the company’s CEO in 2022 and led it through considerable turmoil, including scrutiny of its Adderall prescribing practices, a pivot away from controlled medicine prescribing, layoffs and lawsuits. Cerebral has also sued its co-founder and former CEO, Kyle Robertson, for repayment of a $50 million loan. 

Joining Mou in AdvocateMH’s C-Suite is Bridget Stewart, who will serve as chief operating officer, and Dr. Thomas Insel, who will serve as president, according to LinkedIn.

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Other behavioral health providers have closed notable funding rounds in recent weeks. Earlier this month, integrated pediatric care provider Bluebird Kids landed $31 million

In February, virtual substance use disorder (SUD) treatment provider Ria Health raised $12.5 million and peer support startup You Are Accountable raised $1.9 million. In the same month, child mental health provider Little Otter raised $9.5 million, autism therapy provider Frontera Health raised $32 million and newly-profitable SUD treatment provider Bicycle Health raised $16.5 million

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