Total amount raised
$128.4 Millions
Latest funding date
July, 2021
Location
Sword Health has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company is dedicated to providing digital solutions for musculoskeletal and pelvic health conditions through a combination of AI and human clinical expertise.
Keep reading to explore the intricacies of Sword Health's fundraising journey and the investors backing this innovative platform.
What Is Sword Health?
Sword Health, founded in 2015 by Márcio Colunas and Virgílio Bento, is headquartered in New York, New York. The company specializes in digital solutions for musculoskeletal and pelvic health conditions, leveraging AI and clinical expertise to provide personalized care.
With a mission to free 2 billion people from pain, Sword Health offers a range of products including digital physical therapy, pelvic therapy solutions, and AI-driven surgery risk prediction. Their innovative approach combines advanced technology with the knowledge of world-class doctors of physical therapy.
Currently, Sword Health employs between 501 and 1000 people, reflecting its rapid growth and commitment to improving healthcare outcomes. The company's dedication to integrating human clinicians with AI ensures scalable and accessible treatment options for a global audience.
How Much Funding Has Sword Health Raised?
- Grant
- Amount Raised: €1.3M
- Date: July 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to kickstart the company's operations and product development.
- Seed Round
- Amount Raised: $4.6M
- Date: April 2018
- Lead Investors: Vesalius Biocapital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $8M
- Date: April 2019
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the digital platform.
- Series A (Additional)
- Amount Raised: $9M
- Date: February 2020
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market reach and improve technology.
- Series B
- Amount Raised: $25M
- Date: January 2021
- Lead Investors: Transformation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and enter new markets.
- Series C
- Amount Raised: $85M
- Date: June 2021
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance AI capabilities.
- Series D
- Amount Raised: $163M
- Date: November 2021
- Lead Investors: Sapphire Ventures
- Valuation at Round: $2B
- Motivation Behind the Round: To expand product offerings and increase market penetration.
- Secondary Market
- Amount Raised: $26M
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series E
- Amount Raised: $30M
- Date: June 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and technological advancements.
- Secondary Market
- Amount Raised: $100M
- Date: June 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: $3B
- Motivation Behind the Round: To provide liquidity to current and former employees and early investors.
Total Amount Raised: $453.9M. Current Valuation: $3B.
Key Investors
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that invests in early to late-stage companies. Founded by Vinod Khosla, the firm is known for its focus on transformative technologies.
- Investment Focus Areas: Technology, healthcare, sustainability, transformative sectors.
- Notable Investments: Square, DoorDash, Impossible Foods, Stripe.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. The firm aims to support founders with a long-term vision.
- Investment Focus Areas: Technology, healthcare, consumer products, enterprise software.
- Notable Investments: Airbnb, Stripe, Snap, Warby Parker.
- Founders Fund
- Details: Founders Fund is a venture capital firm that invests in companies across various stages. It was co-founded by Peter Thiel and is known for backing innovative and disruptive companies.
- Investment Focus Areas: Technology, healthcare, aerospace, consumer internet.
- Notable Investments: SpaceX, Palantir, Facebook, Airbnb.
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm that invests in growth-stage technology companies. The firm leverages its global network to help companies scale.
- Investment Focus Areas: Technology, enterprise software, digital health.
- Notable Investments: 23andMe, Alteryx, Box.
- Transformation Capital
- Details: Transformation Capital is a growth equity firm focused on healthcare IT and services. The firm aims to support companies that are transforming healthcare.
- Investment Focus Areas: Healthcare IT, healthcare services.
- Notable Investments: Not publicly disclosed.
What's Next for Sword Health?
Sword Health stands at the cusp of a transformative era with the introduction of Phoenix, their AI Care Specialist. This innovation opens vast opportunities for expanding into new markets and addressing the needs of billions suffering from musculoskeletal and pelvic health issues. With a valuation now at $3 billion, the company is well-positioned to integrate Phoenix into existing solutions like Thrive and Bloom, potentially revolutionizing digital healthcare.
Future fundraising efforts could be driven by the need to support technological advancements and market expansion. The recent $130 million round indicates strong investor confidence, suggesting that further capital could be raised to fuel growth. However, challenges such as maintaining high-quality care standards and navigating regulatory landscapes remain. As Sword Health continues to innovate, the potential for strategic acquisitions and partnerships will be crucial in sustaining its upward trajectory.
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