Smart hearing company Eargo has released its latest connected hearing aids, the Eargo 5, equipped with smaller specs and new features.

Chief to Eargo’s smart hearing devices is the ability for users to customize their sound settings depending on their preferences and environment. The company created a new in-app screening test for users to establish a personalized hearing profile based on the results.

Called the Eargo Sound Match, the test works by emitting tones through the Eargo 5 device in each ear. After completing the screening, the Sound Match recommends fine-tuning adjustments for a variety of environments, such as in restaurants, meetings or phone calls.

Users can further personalize their sound settings with bass, treble and volume adjustments in the Eargo app or by contacting the company’s on-demand hearing professional support team.

Additional features to the Eargo 5 include a redesigned charging case that uses magnets to keep the devices in place while they undergo contactless charging, petal ear tips designed for easier maintenance and replaceable mic caps that help keep devices clean.

“We’re setting a completely new standard for people to take control of their hearing,” Christian Gormsen, CEO of Eargo, said in a statement. “We created a solution which puts consumers first and provides them with the tools that they need to improve their hearing within minutes, without the barriers of clinic visits, high costs and obtrusive design.”

Eargo 5 is available now for purchase at $2,950.

WHY THIS MATTERS

Approximately 48 million people in the U.S. deal with some degree of hearing loss, making it the third most common physical condition after arthritis and heart disease, according to the Hearing Loss Association of America.

Despite its prevalence, many people who experience hearing loss don’t get the care they need. Most adults with hearing loss wait an average of 10 years to seek treatment after first experiencing symptoms, according to a systematic review published in Laryngoscope.

A number of barriers, such as financial limitations, the stigma of hearing devices, inconvenience, other chronic health problems and unrealistic expectations, lead to the delay in care, the review says.

“We believe that the traditional hearing aid industry has failed to reach a majority of Americans because people don’t want to be associated with hearing aids which sit behind your ear, nor do they want to spend hours on visits to hearing clinics,” Gormsen said.

“Eargo is changing that because we are not afraid of taking action and applying cutting edge technologies for the benefit of the user.”

THE LARGER TREND

Last year was a big year for Eargo. It raised $71 million in July to expand the commercialization of its hearing products before it went public with a $141.3 million IPO.

A number of other companies offer direct-to-consumer hearing aids, including Olive Union, which closed a $7 million Series B round earlier this year, and Whisper, which scored $35 million in its own Series B round last fall.

Audio equipment-maker Bose recently made its way into the space by releasing its FDA-cleared SoundControl hearing aids. The hearing aids were developed for adults with perceived mild to moderate hearing loss and are available direct-to-consumer without a prescription.