Eversound Raises $5M Series A to Enhance Well-being for Older Adults
BOSTON, MA–Eversound, a Boston-based technology company creating life-changing experiences for older adults, has announced a $5 million Series A financing. The round was led by Ron Feinstein, former CEO at Lifeline Systems, with participation from Shelter Group, Red Bear Angels and 10X Ventures.
Eversound is a social engagement technology used by hundreds of senior communities across the United States. The technology helps deliver accessible activities for residents by addressing hearing deficiency in environments where hearing aids fall short.
Ron Feinstein is a healthcare pioneer and the visionary CEO who led Lifeline Systems to its acquisition by Dutch Conglomerate, Royal Philips in 2006 for over $750 million. Feinstein led the company to become the leading provider of personal emergency response services over his 15 years of leadership. As part of the financing, he will be joining Eversound’s Board of Directors.
“Quality of life of at-risk seniors is dramatically improved when social isolation is diminished. The segment of our senior population with hearing impairment is huge. Innovation can help serve the most vulnerable, at-risk individuals,” said Feinstein. “Eversound is pioneering a new model to reduce social isolation. They’re offering valuable services that enhance older adults’ lives, and I’m very excited to work with the team as they expand to more locations over the next few years.”
Preliminary studies show strong evidence of the efficacy of Eversound’s technology. A study at LCB Senior Living found 18% fewer residents fell asleep during programs and a 28% increase in engagement across their group activities. Commonwealth Senior Living, a national leader in memory care services across the U.S., saw similar results with a reported 20% increase in attendance at their wellness programs.
“Our mission is to end social isolation for vulnerable, at-risk individuals,” said Jake Reisch, co-founder and CEO at Eversound. “Every day we learn of more older adults being empowered by our technology. Now was the right time to partner with an experienced team of investors to expand our impact to more communities.”
Eversound expects to reach nearly 1,000 communities by the end of 2019. The company will be speaking and exhibiting at numerous events throughout the year including LeadingAge Illinois, Argentum and Senior Living Innovation Forum. The company is also recruiting for a number of positions.
Eversound is a social engagement technology used by over 500 of the most innovative senior communities in the United States. The technology helps deliver accessible activities for residents by addressing hearing deficiency in environments where hearing aids fall short.