New York, U.S.A-based provider of hearing technology and audiology care solutions, Yes Hearing, closed its Series A round at USD 10 million. The company announced the closure on November 4, 2022. Blue Heron Capital led the financing for the firm. Meanwhile, Primetime Partners, Ensemble Innovation Ventures, Maccabee Ventures & Gaingels joined the funding.
As a part of the deal, Todd Walrath, CEO of HomeCare.com and ShiftMed, will join its Board of Directors. Their aim is to drive the company’s continued growth nationwide. Besides, they seek to develop partnerships with payers, providers, organizations, as well as large-scale healthcare groups.
Purpose of financing for Yes Hearing
With the latest financing in the Series A round, the company intends to advance the growth and scale of its direct-to-consumer operations.
It also has plans to fuel the development of its proprietary home care technology platform. Besides, it aims to strengthen further its market, product, and service offering leadership.
What the company’s official has to say
Sam Shear, Founder and CEO of Yes Hearing, said, “Hearing care is a critical component of healthy ageing. The unique challenge with hearing loss is that we tend to isolate ourselves. It introduces poor lifestyle choices, and subsequently increase our risks of comorbidities that can negatively affect our 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.”
What the investors have to say
Gordon Crenshaw, Principal at Blue Heron Capital, said, “Yes Hearing is solving the nearly $20B annual hearing loss market. It has a novel and disruptive platform, meeting consumers and patients with hearing loss where they want to be met: in the home. 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.”
In addition, Todd Walrath, CEO of HomeCare.com, said, “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. 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 ageing where we want to be the most: at home.”
Tom Bendetti, the Managing Partner at Blue Heron Capital, further added, “The team has created a better delivery model that bridges the gap between the need for care and access to better in-home healthcare. 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.”
About the company
Sam Shear launched the company in 2019. The U.S.A-based Yes Hearing is dedicated to improving hearing care access for millions of Americans across the country. Currently, the company has operations in 50 states with a network of over 500 mobile audiologists and hearing care specialists.
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