Cincinnati's Radley Health raises $3M to expand peer-support mental health

Radley Health, a Cincinnati behavioral health company that builds peer support networks for adults living with serious mental illness, has closed a $3 million seed round, the company announced last week.

The round included Aurora Forge, Jackson Healthcare, Peg's Foundation and several family offices, according to the company. They join CareSource, which Radley said had previously announced an investment in the company.

Radley, which operates under the trade name RadleyCare, is led by CEO and co-founder Anson Frericks.

The company says its model relies on certified peer support specialists - people with lived experience in recovery - to provide ongoing engagement, mentorship and support, paired with clinical care and community partnerships. Radley said the approach is designed to improve outcomes, reduce hospitalizations and lower the total cost of care for Medicaid populations.

The company tied the announcement to Mental Health Awareness Month, held every May, pointing out that serious depression among teens has doubled over the past 15 years and that emergency room visits for substance use and mental health conditions rose 42% over the same period.

Radley said it has more than 450 certified peer support specialists working across more than 70 counties in Ohio, a network it describes as one of the largest in the region. The company said that footprint helps address access gaps in a state where 75 of 88 counties are designated Mental Health Professional Shortage Areas.

The company said it will use the capital to expand its peer workforce and training, deepen partnerships with providers and community organizations, build out its technology platform, and launch in additional states.

"Radley Health was founded with a simple but powerful belief: adults living with serious mental illness deserve the opportunity to live amazing lives," Frericks said in the announcement. 

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