Princeton Equity Group Invests in Ellie Mental Health

Ellie Mental Health and Princeton Equity

In Growth Mode, Ellie Is Developing 250-Plus U.S. Franchises 

Princeton Equity Group, a private equity firm, has invested in Ellie Mental Health, which operates and franchises outpatient mental health clinics. Seven-year-old Ellie Mental Health offers individual and family therapy, couples counseling, psychiatric medication management, and community-based mental health services. By teaming with Princeton Equity Group, Ellie Mental Health will have additional support for its plans for rapid growth all over the United States. 

Based in Mendota Heights, Minn., Ellie Mental Health currently has 20 corporate-owned clinics across Minnesota and employs 215 clinicians. It serves 20,000 patients per year, but that number will soon increase dramatically because Ellie has more than 250 franchise sites already being developed in 26 states. 

Ellie Leaders Retain Roles

Erin Pash, co-founder and CEO of Ellie Mental Health, and Kyle Keller, chief clinical officer and also a co-founder, will continue to head up the business and strive toward its goal of establishing the most accessible mental health platform in the nation. In a news release, Pash stated that “the partnership with Princeton will help facilitate the next chapter of our growth as we rapidly expand our corporate and franchise businesses,” adding that because of the country’s mental health crisis, “this investment could not have come at a more opportune time.” 

Doug Kennealey, co-founder and managing partner of Princeton Equity Group, said his firm is very enthusiastic about plans for facilitating Ellie Mental Health’s expansion. “The Ellie team has a track record of delivering superb patient outcomes and improving accessibility for mental health care, which has reached epidemic levels in our country,” Kennealey said. He adds that through his firm’s experience in the franchise industry, Ellie will continue providing stellar service to its franchisees and clinicians, as well as its patients, while the brand grows.   

Pooled Expertise and Resources

Princeton Equity Group’s expertise in the franchise industry will supplement Ellie’s resources to support the expansion of its corporate footprint and rapidly growing franchise system. The combination of Princeton’s specialized business experience and Ellie’s clinical expertise will help the company deliver on its mission to transform the culture of mental health care by providing creative solutions easing accessibility in American communities. Princeton Equity Group exclusively invests in leading franchise and multi-unit companies. The firm views each investment as a long-term, supportive business partnership with founders and management teams. These partnerships have a common objective of growing companies such as Ellie Mental Health in size and value. For details about Ellie Mental Health and its franchise opportunities, visit, call 651-313-8080, or email

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Mary Vinnedge is an award-winning journalist who has served as editor in chief, managing editor and senior editor at national and regional publications, including SUCCESS and Design NJ magazines. She also held reporting and editing roles at The Dallas Morning News and Charlotte Observer newspapers.

Before Mary began covering franchise news and trends as a staff writer for FranchiseWire and Franchise Consultant Magazine, she developed articles on topics ranging from lifestyle, education, health and science to home projects, horticulture, gardening, interior design and architecture. These articles included her reporting on academic news at her alma mater, Texas A&M University, when Mary worked in the marketing department of the Texas A&M Foundation. She continues to be a news junkie and subscribes to several publications.

Today Mary and her husband are empty nesters living on Galveston Island near Houston. The couple’s blended family – scattered around the United States – includes five children, four grandchildren and two very spoiled, very barky miniature schnauzer rescues.
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