NEW YORK--(BUSINESS WIRE)--Yes Hearing, the leading provider of affordable, accessible, and convenient hearing technology and audiology care, today announced that it closed a $10M Series A financing round. The investment was led by Blue Heron Capital with participation from Primetime Partners, Ensemble Innovation Ventures, Maccabee Ventures & Gaingels.
“Hearing care is a critical component of healthy aging,” said Sam Shear, Founder and CEO of Yes Hearing. “The unique challenge with hearing loss is that we tend to isolate ourselves, introduce poor lifestyle choices, and subsequently increase our risks of comorbidities that can negatively affect quality of life. We lose the ability to connect, communicate, and engage with the world around us. That can lead to major consequences for both an individual and those who love them. I’ve witnessed the devastating effects on my family firsthand,” he said.
Yes Hearing is the largest national provider of in-home hearing healthcare, operating in 50 states with a network of over 500 mobile audiologists and hearing care specialists. Since 2019, the company’s patient-centered delivery model has combined audiologist-led telehealth with hands-on professional hearing care at home to increase the adoption, usage, and ongoing care for individuals with hearing loss. The company provides prescription hearing aids at upwards of 40% less than the cost in a typical clinic setting.
“Yes Hearing is solving the nearly $20B annual hearing loss market with a novel and disruptive platform, meeting consumers and patients with hearing loss where they want to be met: in the home,” said Gordon Crenshaw, Principal at Blue Heron Capital. “The company's expansive network of audiologists gives Yes Hearing unparalleled reach to meet the needs of the millions of people in this country who are suffering from hearing loss.”
With this investment, Yes Hearing plans to advance the growth and scale of its direct-to-consumer operations and accelerate the development of its proprietary home care technology platform, further strengthening its market, product, and service offering leadership. Yes Hearing will also add Todd Walrath, CEO of HomeCare.com and ShiftMed, to its Board of Directors. Todd will drive the company’s continued growth nationwide and develop partnerships with payers, providers, organizations, and large-scale healthcare groups.
“When combined with both a rapidly growing population over the age of 65 plus the increased need for remote, in-home care and accelerated adoption of telehealth, the demand for Yes Hearing’s services only continues to rise,” said Walrath. “We are building what we believe to be the best solution for delivering quality care services and generating the best outcomes. We are building the foundation for personalized care that empowers all aspects of healthy aging where we want to be the most: at home,” he said.
Hearing impairment is the third most common chronic condition in the United States, with nearly half of all adults over the age of 75 suffering from disabling hearing loss — yet it’s estimated that less than 1 in 3 use hearing aids. Because untreated hearing loss often comes with real-world effects like social isolation, mobility challenges, increased fall risks, Dementia, Alzheimer’s, and cognitive decline, Yes Hearing’s solution has meaningful, positive impact on the quality of life for older adults. Hearing loss can be managed and treated, but despite this, millions of people don’t receive the care they need often because of the stigma and cost associated with care.
“The team has created a better delivery model that bridges the gap between the need for care and access to better in-home healthcare,” said Tom Bendetti, Managing Partner at Blue Heron Capital. “The benefits of moving professional healthcare services into the home setting are vast, from delivering higher-quality, personalized, and professional care to providing patients with an increased feeling of independence, safety, comfort, and convenience, greater levels of satisfaction, and ultimately better outcomes. Yes Hearing is the clear market leader.” he said.
About Yes Hearing
Founded in 2019 by CEO Sam Shear, Yes Hearing is dedicated to improving hearing care access for millions of Americans across the country — empowering them to stay happy, healthy, and safe as they age-in-place. As market leaders, Yes Hearing delivers the most advanced hearing aids and hearing aid technology at an affordable price and provides convenient in-home and telehealth audiology services through a curated, national network of more than 500+ audiologists and hearing care specialists — the world's largest (and still growing!) mobile network of hearing professionals. To learn more, visit www.yeshearing.com.
About Blue Heron Capital
Blue Heron Capital is an operationally focused growth equity firm investing in healthcare and technology-enabled business service companies. Blue Heron supports portfolio companies with a team of industry experts, including C-level executives and successful entrepreneurs with decades of experience building and managing vibrant businesses. To learn more, visit www.blueheroncap.com.