How Fortell is using AI (and $163M) to crack a hearing aid monopoly
“Why do I have to beg my grandparents to put on their hearing aids, but no one has ever needed to ask me to put on my glasses?” That’s the question that drove Matthew de Jonge to spend six years building Fortell, an AI hearing aid startup that recently raised $163 million from the likes of Founders Fund, Thrive Capital, and Valor Equity […]
Matthew de Jonge, founder of AI hearing aid startup Fortell, was inspired by his grandparents' struggle with their hearing aids. The question he asked himself was, "Why do I have to beg my grandparents to put on their hearing aids, but no one has ever needed to ask me to put on my glasses?" This question led de Jonge to spend six years building Fortell, an AI-driven company that recently secured $163 million in funding from prominent investors such as Founders Fund, Thrive Capital, and Valor Equity Partners CEO Antonio Gracias.
Fortell's mission is to develop hearing aids that adapt to the sounds around you in real time, distinguishing the important from the rest, rather than simply amplifying everything simultaneously, as most current hearing aids do. On the latest episode of TechCrunch's Equity Equity podcast, Rebecca Bellan sat down with de Jonge to discuss what it takes to disrupt an industry dominated by five companies that control 97% of the market, where insurance rarely covers the cost of hearing aids, and where innovation has been notably slow.
In the interview, de Jonge explained the unique challenges and opportunities in the hearing aid industry, as well as Fortell's approach to revolutionize the way individuals experience and manage their hearing.
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