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

Fortell, founded by Matthew de Jonge, has raised $163 million from investors including Founders Fund and Thrive Capital to develop AI-powered hearing aids that filter ambient sounds in real time, prioritizing important audio while reducing background noise. The company targets a market dominated by five firms that supply 97% of hearing aids, where insurance rarely covers costs and innovation has lagged. Fortell’s technology aims to disrupt this monopoly by offering smarter, more adaptive hearing solutions.