Boston-based Eversound, a smart audio technology provider for older adults, has raised $3 million in funding. The investors were Shelter Group, Red Bear Angels and 10X Ventures.
NEW YORK, NY, (DECEMBER 8, 2016) – Eversound – the smart audio technology provider for older adults – has announced its expansion with several of the largest senior living providers in the country. The company also announces the closing of its seed round of financing from Shelter Group, Red Bear Angels and 10X Ventures for $3 million.
Eversound is a new type of wireless headphone technology to finally help older adults hear again. It is also designed for senior living communities to address communication and hearing challenges with their residents.
“80% of us will have hearing loss by age 85 and less than 1 in 5 use a hearing aid who need one” says Jake Reisch, Co-founder and CEO of Eversound. “It’s staggering, because hearing loss effects tens of millions of people and many of these people live in senior living communities. It leads to mental decline, social isolation and depression – so we’re building solutions people actually use.”
The 65+ population is exploding from 40 million in 2010 to over 88 million by 2050. Senior living communities are expanding rapidly to keep up with the trend, and ultimately bear the responsibility of engaging and entertaining their residents. This challenge is magnified with such a high percentage of residents experiencing hearing loss. Reisch points to the high cost of hearing aids, stigmas and the challenges for seniors to operate small objects as reasons that hearing aids have not addressed the issue.
Eversound is taking a new approach to hearing enhancement by focusing on the group environment first. The company helps senior living communities connect a specialized wireless headphone system to deliver personalized sound for every resident during movies, presentations and group activities for less than the cost of a single pair of hearing aids. A recent 6-month study by the Internal Research Council at LCB Senior Living showed an overall 28% increase in engagement from their residents.
“The Eversound headphones provided residents who couldn’t hear the opportunity to experience everything being said” says Courtney, Resident Engagement Director at LCB at Otter Creek. “Before [Eversound], we would have people who were getting up during the program or who might be shouting ‘speak up! I can’t hear you! Talk louder!’ With the Eversound headphones, they’re engaging, they’re asking questions, they’re really a part of the program.”
Eversound is in use at The Residence at Otter Creek, an LCB Senior Living Community
With seven of the Top 20 Largest Senior Living Communities set to connect Eversound, including Brightview Senior Living and Integral Senior Living, the company plans to be a new standard for the industry. Equipped with the latest round of funding, the company is expanding across the country to build the sound distribution network of the future.
“We knew Eversound was onto something when they walked through the door,” says David Carliner, EVP at Shelter Group, which operates Brightview and Parkview Senior Living. “We manage 68 senior living communities struggling to engage residents because of hearing loss. Since hearing aids are difficult to operate for seniors and ineffective at group events, we’re excited by the possibilities Eversound can unlock.”
For more information on Eversound, please visit www.eversoundhq.com. For hi-res photography and/or interview requests, please contact Becki Silverstein at [email protected] or via phone at 440-227-8794.
Eversound helps senior communities deliver the perfect volume to every resident during group events and activities. Based in Boston, MA, the company is taking a new approach to the problem of hearing loss by building a network of sound distribution for personalized listening. Eversound was founded and funded by audiophiles and senior living executives in 2015. For more information visit Eversoundhq.com.