Eargo

Eargo was an American hearing-aid manufacturer and consumer hearing-health brand headquartered in San Jose, California. The company focused on making hearing assistance more discreet, convenient, and accessible through small in-canal devices that could be purchased and supported largely through a direct-to-consumer model. Its products were designed to sit inside the ear rather than behind it, a form factor intended to reduce the stigma and visibility often associated with conventional hearing aids. The company was founded in 2010 by Florent Michel, an ear, nose, and throat surgeon and the principal designer and inventor behind the product concept; his son Raphael Michel; and Daniel Shen. Raphael Michel became Eargo's first chief executive officer, while Shen served as chief science and clinical officer. The founders developed a hearing aid whose acoustic design was inspired by a fishing fly. A small speaker was surrounded by medical-grade silicone strands marketed as Flexi Fibers. These fibers were intended to allow lower-frequency sound to pass more naturally while concentrating amplification on higher frequencies. The approach became a distinctive part of Eargo's product identity. Eargo attracted early backing from venture funds and angel investors, including Maveron. It raised a $13.6 million Series A round in 2015, followed by a $25 million Series B round led by New Enterprise Associates later that year. Subsequent financing included a Series C round, a $52 million Series D round in 2019, and a $71 million Series E round in 2020. Christian Gormsen became chief executive in 2016 and led the company through its expansion into a publicly traded business. Eargo introduced its first orderable hearing devices in 2015. The Eargo Plus followed in 2017, Eargo Max in 2018, Eargo Neo in 2019, and Eargo Neo HiFi in 2020. The devices were described as Class 2 medical devices and were supplied in two sizes with four preset listening profiles. Users could change profiles by tapping the ear, while each ear could be adjusted independently. Customers could also submit audiograms to Eargo's licensed hearing professionals for device calibration. Rechargeable portable cases were designed to support daily use, with the devices advertised as capable of operating for up to 16 hours on a charge. The company filed for an initial public offering in September 2020 and began trading on NASDAQ in October of that year under the ticker EAR. Its public-company period was later followed by ownership and financial difficulties. Patient Square Capital became Eargo's majority owner in 2022, and the company was taken private in January 2024, at which point its NASDAQ listing ended. In April 2024, Eargo agreed to pay $34.37 million to resolve allegations by the United States Department of Justice concerning unsupported hearing-loss diagnosis codes in claims submitted to the Federal Employees Health Benefits Program. Eargo denied the allegations. In April 2025, Eargo merged with HearX to form LXE Hearing, an over-the-counter hearing-aid company. HearX chief executive Nic Klopper became chief executive of the combined business, while William Brownie, Eargo's chief executive at the time, became chief operating officer. Following the merger, Eargo is best understood as a predecessor brand and operating business within the newly formed LXE Hearing structure rather than as an independent public company.

Eargo originated in 2010 when Florent Michel, an ear, nose, and throat surgeon, worked with his son Raphael Michel and Daniel Shen to develop a less conspicuous hearing-aid format. Florent Michel served as the product designer and inventor, Raphael Michel became the company's first chief executive, and Shen took responsibility for science and clinical affairs. Their concept placed the speaker inside the ear and used flexible medical-grade silicone fibers, later branded Flexi Fibers, around the speaker. The design was inspired by a fishing fly and was intended to preserve the natural passage of lower-frequency sound while amplifying higher-frequency ranges. The company received seed funding in 2013 from venture funds and angel investors, including Maveron. In June 2015, it raised $13.6 million in Series A financing from nine investors, among them Maveron, Crosslink Capital, Dolby Family Ventures, and Birchmere Ventures. Eargo announced a further $25 million Series B financing led by New Enterprise Associates in December 2015. Its first hearing devices became available to order in June 2015, establishing the company as a direct-to-consumer alternative in a hearing-care market traditionally dependent on clinic-based fitting and sales. Christian Gormsen became chief executive in 2016. Under his leadership, Eargo expanded its product family and pursued additional venture financing. The Eargo Plus was introduced in 2017, followed by Eargo Max in 2018. Eargo closed the first tranche of a Series C round in 2017, with the round intended to raise $45 million. The company subsequently raised a $52 million Series D round in 2019 and a $71 million Series E round in 2020. The product range continued with Eargo Neo in 2019 and Eargo Neo HiFi in 2020. Eargo's devices were described as Class 2 medical devices. They were supplied in two sizes and came with four preset listening profiles. Users could switch between profiles by double-tapping the ear, using an acoustic control system, and could adjust the left and right devices independently. Eargo also offered support from licensed hearing professionals. Customers could submit personal audiograms so that the devices could be calibrated for their hearing needs. Rechargeable devices were supplied with portable charging equipment; the hearing aids were designed to provide up to 16 hours of use per charge, while the charging case was designed to last up to a week on its own charge. Eargo filed for an initial public offering on September 25, 2020, and officially listed on NASDAQ on October 16, 2020. Its public-company period was later curtailed. Patient Square Capital became the company's majority owner in 2022, and Eargo was taken private in January 2024, resulting in the delisting of its shares. In April 2024, the company agreed to a $34.37 million settlement with the United States Department of Justice. The matter concerned allegations that Eargo submitted claims for hearing devices to the Federal Employees Health Benefits Program containing unsupported hearing-loss diagnosis codes. Eargo denied the allegations. In April 2025, Eargo merged with HearX to create LXE Hearing, an over-the-counter hearing-aid company. HearX chief executive Nic Klopper assumed the chief executive role at the combined company, while William Brownie, who had led Eargo since 2023, became chief operating officer. The transaction marked the end of Eargo as an independent operating company and placed its technology, products, and brand history within the LXE Hearing structure.

1. 2025Merger into LXE Hearing

   Eargo merges with HearX to form LXE Hearing, an over-the-counter hearing-aid company.

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2. 2024Privatization and delisting

   Eargo is taken private and its NASDAQ listing ends.

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3. 2022Patient Square Capital becomes majority owner

   Patient Square Capital takes majority ownership of Eargo.

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4. 2020Eargo Neo HiFi launches

   The company introduces Eargo Neo HiFi and completes a $71 million Series E financing round.

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5. 2020NASDAQ listing

   Eargo files for an IPO in September and begins trading on NASDAQ in October under EAR.

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6. 2019Eargo Neo launches

   Eargo introduces the Eargo Neo and reports a $52 million Series D financing round.

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7. 2018Eargo Max launches

   The Eargo Max becomes part of the company's hearing-device lineup.

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8. 2017Eargo Plus launches

   Eargo expands its product range with the Eargo Plus.

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9. 2016Christian Gormsen becomes chief executive

   Christian Gormsen succeeds Raphael Michel as chief executive.

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10. 2015First devices become orderable

    Eargo makes its first hearing devices available for order.

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11. 2015Series A and Series B financing

    The company raises $13.6 million in Series A financing and later announces a $25 million Series B round led by New Enterprise Associates.

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12. 2013Seed financing

    Eargo receives early funding from venture funds and angel investors, including Maveron.

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13. 2010Eargo is founded

    Florent Michel, Raphael Michel, and Daniel Shen establish Eargo to develop discreet in-ear hearing devices.

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Discreet, rechargeable, consumer-oriented hearing assistance combining in-ear industrial design with remote professional support.

• EargoIn-canal hearing aid2015

  Eargo's core hearing devices were small, in-canal medical devices designed for discreet wear. Their signature design used a miniature speaker surrounded by medical-grade silicone fibers marketed as Flexi Fibers. The fibers were intended to allow natural bass sounds to pass through the ear canal while directing amplification toward treble frequencies. Devices were available in two sizes, used four preset sound profiles, and could be adjusted through a double-tap acoustic control. Users could configure each ear independently and obtain remote calibration support from licensed hearing professionals.

• Eargo PlusIn-canal hearing aid2017

  Introduced in 2017, Eargo Plus was an early named generation in the company's product portfolio. It continued Eargo's emphasis on a nearly invisible in-ear form factor, rechargeable operation, preset listening profiles, and remote support rather than a conventional behind-the-ear design.

• Eargo MaxIn-canal hearing aid2018

  Launched in 2018, Eargo Max extended the brand's discreet in-canal product line. Like other Eargo devices, it was associated with rechargeable use, portable charging equipment, and a consumer-oriented fitting process supported by Eargo hearing professionals.

• Eargo NeoIn-canal hearing aid2019

  Eargo Neo was introduced in 2019 as a subsequent generation of the company's small, rechargeable hearing devices. It maintained the product architecture centered on in-ear placement, selectable sound profiles, independent left-right adjustment, and professional calibration based on a user's audiogram.

• Eargo Neo HiFiIn-canal hearing aid2020

  Eargo Neo HiFi launched in 2020 as a later-generation Eargo hearing device. It represented the brand's continued effort to combine a low-visibility in-ear design with rechargeable operation and digitally selectable hearing profiles. Detailed technical specifications beyond the product generation are not established in the supplied reference material.

• 2025Merger with HearXM&A

  Eargo and HearX operated in the hearing-health market and combined as the over-the-counter hearing-aid category developed.

  What changed. The companies merged to create LXE Hearing. Nic Klopper became chief executive and William Brownie became chief operating officer.

  Aftermath. Eargo ceased to operate as an independent company and became part of the LXE Hearing structure.

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• 2024Take-private transactionM&A

  Patient Square Capital had become Eargo's majority owner in 2022.

  What changed. Eargo was taken private in January 2024 and removed from NASDAQ.

  Aftermath. The transaction ended Eargo's status as a publicly traded company.

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• 2020Initial public offering and NASDAQ listingOther

  After several rounds of private financing and product expansion, Eargo pursued access to public capital markets.

  What changed. The company filed for an IPO in September 2020 and was listed on NASDAQ in October under the ticker EAR.

  Aftermath. Eargo operated as a public company until it was taken private and delisted in 2024.

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• 2024Federal health-benefits claims settlementControversy

  Eargo agreed to a $34.37 million settlement with the United States Department of Justice over allegations that it submitted claims for hearing devices to the Federal Employees Health Benefits Program using unsupported hearing-loss diagnosis codes. Eargo denied the allegations.

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• 2025Eargo merges with HearX to form LXE Hearing

  Eargo and HearX merged to create LXE Hearing, an over-the-counter hearing-aid company. Nic Klopper became chief executive and William Brownie became chief operating officer.

  M&ALeadership change
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• 2024Eargo is taken private and delisted

  Eargo was taken private in January 2024, ending its NASDAQ listing.

  M&A
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• 2022Patient Square Capital becomes majority owner

  Healthcare investment firm Patient Square Capital became Eargo's majority owner.

  M&A
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• 2020Eargo files for an initial public offering

  Eargo filed documents for an initial public offering as it prepared to become a publicly traded hearing-aid company.

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• 2020Eargo begins trading on NASDAQ

  Eargo was officially listed on NASDAQ under the ticker EAR.

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• 2015Eargo raises Series A financing

  Eargo announced $13.6 million in Series A funding from a group of investors that included Maveron, Crosslink Capital, Dolby Family Ventures, and Birchmere Ventures.

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• 2015Eargo announces Series B funding

  The company announced a $25 million Series B financing led by New Enterprise Associates.

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1. Eargo