Unum Group leads investment as pioneer in tailoring employer-focused hearing health for the headphone generation
New York, February 23, 2024–(BUSINESS WIRE)–Tuned, a digital hearing health company that provides preventative and comprehensive hearing health to employers, today announced a new company led by Unum Group with participation from Distributed Ventures. announced that it has secured an oversubscribed $3.2 million seed expansion. Tuned's latest funding brings its total raised to $8.2 million and demonstrates investors' strong belief in the company's mission to make comprehensive hearing care the cornerstone of competitive employee health and well-being.
Undiagnosed hearing loss costs employers up to $9,100 per employee per year, which equates to $133 billion in U.S. health care spending compared to no hearing loss. With 50 million Americans facing unresolved hearing problems, and 60% of them in the workforce, Tuned addresses critical gaps in employee benefits and provides employers with a talent resource. This is an important element of attraction.
“Tuned’s innovative approach to hearing health is shaping a future where preventive hearing care is no longer just an afterthought, but the cornerstone of comprehensive employee health and wellbeing benefits.” said James Hettenbach, President and Head of Business Ventures. “Tuned is helping to eliminate misconceptions and stigma around hearing loss while giving employees and their families an easy way to protect their hearing health.”
“As headphones become more common as a tool for both leisure and business, and the risk of hearing loss increases, Tuned is proactively helping employers differentiate themselves in the battle that matters most while protecting the health of their employees. We're showing you how to do that, and we're looking for talent,” said Shawn Ellis, managing partner at Distributed Ventures. “We believe Tuned is smart, agile and well-positioned to serve an under-recognized market.”
Led by the nation's largest online group of audiologists, Tuned is the only telehealth platform that supports the entire continuum of hearing care, from prevention to intervention. Currently, Tuned's comprehensive hearing benefits are available to more than 1.4 million of his customers.
Danny Aronson, co-founder and CEO of Tuned, said: “Currently, the only option for hearing compensation is a discounted hearing aid program that is only available to people with severe hearing loss.” said. “Tuned is unique because we identify and support the full range of hearing loss, including mild or moderate hearing loss and other hearing impairments, while providing preventative screening and education.
“By addressing this critically overlooked part of our health, we can help millions of employees maintain their hearing health and prevent further loss while improving their overall health, well-being. , which can have a positive impact on productivity.”
Tuned experienced impressive growth in 2023, adding a record number of new employer customers to its telehealth benefits platform. The company has deployed STAR Solutions, an integrated scheduling, testing, analysis, and recording platform that helps employers achieve compliance with federal Occupational Safety and Health Administration (OSHA) regulations. Tuned he introduced an employer-sponsored child benefits scheme in June to provide hearing screenings to young people.
The latest investment from Unum Group will help Tuned grow its sales team, expand its roster of audiologists to serve more employers, and develop innovative new products for its customers. Helpful.
About Tuned
Tuned is a digital health solution focused on preserving hearing and preventing hearing loss for people of all ages. Available as an employer-sponsored benefit or OSHA-compliant solution, Tuned provides clinically-validated screening, support, and solutions for the full range of hearing problems, from tinnitus and auditory processing disorders to profound hearing loss. We provide lifelong preventive hearing care and benefits. One in four of her working adults is affected. Currently, 1.4 million people have access to His Tuned through employer benefits or the Marketplace. Tuned is a private company headquartered in New York City with audiologists throughout the United States and around the world. For more information, please visit https://www.tunedcare.com.
About Unum Group
Unum Group (NYSE: UNM), an international provider of workplace benefits and services, has been supporting workers and their families for 175 years. The company offers disability, life, accident, critical illness, dental, vision, and stop-loss insurance through its Unum and Colonial Life brands. Leave and Absence Management Support and Behavioral Health Services. In 2023, Unum reported revenue of $12.4 billion and paid out benefits of $7.9 billion. The Fortune 500 company is recognized by Ethisphere® as one of the World's Most Ethical Companies in 2023.
About decentralized ventures
Distributed Ventures is a seed-to-Series A focused venture fund that invests in entrepreneurs transforming the future of risk across insurtech, digital health and benefits, and fintech. As former founders, investors, and executives, the Distributed Ventures team provides deep subject matter and early-stage operational expertise to help companies succeed from day one. We work closely with strategic LPs to provide sales support, apply human capital expertise, and leverage existing products and data to accelerate growth. Notable past investments include Indio Technologies (acquired by Applied Systems), Armadillo, Kindbody, Tuned, and Wingspan. For more information, please visit www.distributedvc.com.
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contact address
Stephanie Fraser
Senior Director of Public Relations (Tuned)
(734) 233-1483
stephanie@envhs.com
