upfront ventures

upfront ventures

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Telehealth startup Cerebral entered the medical tech scene two years ago, backed by over $400 million in venture funding and a promise: remote access to mental health professionals and treatment that could help patients with a range of behavioral challenges, from depression to anxiety to ADHD, all bundled in a neat monthly subscription priced at $100 per month.

But by May of this year, Cerebral’s practices began to crumble under scrutiny. The company’s problems accelerated when an ex-executive filed a lawsuit in April alleging he was fired for speaking out against the Cerebral’s tendency to over-prescribe ADHD stimulants. The lawsuit then led to a Justice Department investigation into the company’s “possible violations” of the federal Controlled Substances Act, which is still pending alongside a separate inquiry from the Drug Enforcement Administration.

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Sustainability on Agenda at Celebrity-studded Upfront Summit

Los Angeles-based venture capital firm Upfront Ventures has raised $650 million that will be spread across three different funds targeted at various points in the startup lifecycle. According to a press release from the firm, the Upfront Venture VII fund will invest $280 million into early-stage founders focusing on “healthcare and applied biology; defense technologies; computer vision; agtech and sustainability; fintech; consumerization of enterprise software; and gaming infrastructure.”

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Invoca, a Santa Barbara-based AI software platform that analyzes customer service calls for sales and marketing teams, is now a unicorn.
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