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Total amount raised
$380M
Latest funding date
2025-06-17
Location
Sword Health has successfully raised funding over 12 rounds, with the latest being a Venture - Series Unknown round. The company is backed by 29 investors, including Armilar Venture Partners and General Catalyst.
Keep reading to explore the intricacies of Sword Health's fundraising journey and the investors backing this innovative platform.
Sword Health has raised funding across multiple rounds backed by investors including General Catalyst, Khosla Ventures, Sapphire Ventures, and Transformation Capital. The company's latest disclosed primary round was a $40 million venture round in June 2025, bringing its valuation to $4 billion.
Keep reading to explore Sword Health's full fundraising journey, key investors, and what's next for this AI-powered digital health company.
What Is Sword Health?
Sword Health is a digital health company headquartered in New York, founded in 2015 by Virgílio Bento. The company offers an AI-powered care platform focused on musculoskeletal (MSK) health, pairing members with clinical specialists and AI to deliver personalized, virtual physical therapy. In June 2025, Sword also launched "Mind,"an AI mental health solution, broadening its platform beyond MSK care. With over 40 clinical studies and 40+ patents, Sword Health serves employers and health plans across the US and globally, with a mission to free two billion people from pain.
How Much Funding Has Sword Health Raised?
- Seed Round
- Amount Raised: USD 4,600,000
- Date: April 2018
- Lead Investors: Vesalius Biocapital Partners, Green Innovations
- Participants: Undisclosed additional investors
- Series A (First Close)
- Amount Raised: USD 8,000,000
- Date: April 2019
- Lead Investors: Khosla Ventures
- Series A (Extension)
- Amount Raised: USD 9,000,000
- Date: February 2020
- Lead Investors: Khosla Ventures
- Participants: Founders Fund, Green Innovations, Vesalius Biocapital Partners, Faber
- Series B
- Amount Raised: USD 25,000,000
- Date: January 2021
- Lead Investors: Transformation Capital (Todd Cozzens)
- Participants: Khosla Ventures, Founders Fund, Green Innovations, Vesalius Biocapital Partners, Faber
- Series C
- Amount Raised: USD 85,000,000
- Date: June 2021
- Lead Investors: General Catalyst
- Participants: BOND, Highmark Ventures, BPEA, Khosla Ventures, Founders Fund, Transformation Capital, Green Innovations
- Series D
- Amount Raised: USD 163,000,000
- Date: November 2021
- Valuation: USD 2,000,000,000
- Lead Investors: Sapphire Ventures
- Participants: General Catalyst, Khosla Ventures, Founders Fund, BOND, Transformation Capital, Green Innovations, Sozo Ventures, Willoughby Capital, ADQ, LocalGlobe
- Secondary Market Round
- Amount Raised: USD 26,000,000
- Date: November 2021
- Lead Investors: Undisclosed
- Notes: Secondary share sale alongside the Series D
- Series E (Primary)
- Amount Raised: USD 30,000,000
- Date: June 2024
- Valuation: USD 3,000,000,000
- Lead Investors: Khosla Ventures
- Participants: General Catalyst, BOND, Founders Fund
- Secondary Market Round
- Amount Raised: USD 100,000,000
- Date: June 2024
- Lead Investors: Undisclosed
- Notes: Secondary sale providing liquidity to employees and early investors; oversubscribed
- Venture Round (Series Unknown)
- Amount Raised: USD 40,000,000
- Date: June 17, 2025
- Valuation: USD 4,000,000,000
- Lead Investors: General Catalyst
- Participants: Khosla Ventures, Comcast Ventures, Lince Capital, Oxy Capital, Armilar, Indico Capital, Shilling
Total Amount Raised: At least $490.6M based on disclosed funding (including primary rounds and secondary transactions). TechCrunch and MobiHealthNews report the total as $380M when counting primary rounds only; Sword Health's own press releases note over $300M from leading investors. The figure varies by source depending on whether secondary sales are included.
Key Investors
- General Catalyst
- Details: General Catalyst is a global venture capital firm that led Sword Health's Series C and the June 2025 Venture round. The firm partners with companies building enduring businesses across healthcare, technology, and beyond.
- Khosla Ventures
- Details: Khosla Ventures is a Silicon Valley-based VC firm that led Sword Health's Series A rounds and co-led the 2024 Series E primary round. The firm focuses on AI, sustainability, and health technology.
- Sapphire Ventures
- Details: Sapphire Ventures led Sword Health's $163M Series D in November 2021, supporting the company's growth to a $2 billion valuation. Sapphire focuses on late-stage, high-growth enterprise and digital health companies.
- Transformation Capital
- Details: Transformation Capital led Sword Health's $25M Series B in early 2021. The firm is a healthcare-focused venture fund investing in digital health and care transformation startups.
- Founders Fund
- Details: Founders Fund is a San Francisco-based venture capital fund that has been a recurring participant across multiple Sword Health rounds, from Series A through Series D and beyond.
What's Next for Sword Health?
Sword Health is positioning itself as a leader in AI-driven digital health beyond musculoskeletal care. With the launch of "Mind"in June 2025, the company is expanding into mental health, offering an always-on AI mental health solution. CEO Virgílio Bento has stated that the company is targeting profitability and planning an IPO for no sooner than 2028. Sword is also focused on accelerating M&A activity and global expansion, leveraging its growing portfolio of clinical studies and patents to differentiate its AI Care model in an increasingly competitive digital health market.
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