How Fortell is using AI (and $163M) to crack a hearing aid monopoly

Matthew de Jonge founded Fortell to address why many people, particularly older adults, resist wearing hearing aids while others readily wear glasses. Over six years he built the startup around an alternate technical approach: instead of increasing volume across the board, Fortell’s devices aim to interpret surrounding sound in real time, elevate what matters and diminish ambient noise. The company recently closed a $163 million financing round with participation from heavyweight backers including Founders Fund, Thrive Capital and Valor Equity Partners CEO Antonio Gracias. The funding arrives as Fortell positions itself against a highly concentrated hearing-aid market where five firms supply roughly 97% of devices and where innovation has been limited. Fortell’s pitch centers on improving the user experience to boost adoption. By leveraging AI to distinguish and prioritize sounds, the startup hopes to make devices less intrusive and more helpful in everyday listening situations — a change its founder frames as key to convincing reluctant users to wear hearing aids. TechCrunch discussed Fortell’s strategy and challenges on its Equity podcast, where de Jonge laid out the company’s long-term plan to disrupt an industry that also faces barriers such as limited insurance coverage for hearing devices. The new capital is intended to accelerate product development and push against the slow pace of change in the hearing-aid market.