Texas native and Olympic gymnast Simone Biles recently became the chief impact officer at Cerebral, a mental health subscription provider, and since has helped the company raise $300 million in venture capital.
Biles, who has won 32 championship medals in her gymnastics career, drew worldwide attention at the Toyoko Summer Olympic games last year when she competed in only one event before leaving the games to concentrate on her mental health.
Two months later, Biles agreed to become Cerebral’s Chief Impact Officer and serve as the new brand’s face.
Cerebral sponsored Biles’ Gold Over America Tour, which took place from September to November 2021. Cerebral will also be supporting the 2022 Simone Biles International Invitational.
The event will take place January 27-30 at Houston’s George R. Brown Convention Center. The invitational is held in Biles’ home gym, the World Champions Centre, in Spring, Texas.
“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 said in a Cerebral press release.
She said that her challenges with mental health, and therapy, have empowered her as she tries to become the best person possible.
“I believe everyone should have access to mental health resources, and Cerebral gives me the ability to personalize my mental health care experience,” her statement read.
Digital health startups like Cerebral are benefiting from the mushrooming market for mental health.
The behavioral health industry in the United States grew by 11.3 percent in 2020, with pandemic-related mental health issues driving more demand, according to a report by Fortune Business Insight. The report claims that the US market is expected to grow from $77.62 billion in 2021 to $99.4 billion in 2028.
Cerebral claims that its $300 million funding injection would allow it to expand globally, build strategic alliances, and claims to have a network of more than 2,300 clinicians working in all 50 states.