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Sword Health – Making Moves in Virtual Care



June 11, 2024

 


On June 4, 2024, AI-powered virtual and digital physical therapy startup Sword Health closed a $130 million USD round of financing. This brings Sword Health's total funding to $340 million and raises its valuation to $3 billion — a 50% increase from the $2 billion it boasted in its Series D valuation. Of the $130 million of financing, $30 million is a primary sale for new and current investors. The other $100 million is a secondary sale intended to provide liquidity to Smart Health's employees and early investors.

 

Even without the financing, Smart Health is cash-strong and well positioned to become profitable by the end of 2024. In light of 2024's harsh financing conditions, Smart Health's CEO and Founder, Virgilio 'V' Bento, hopes the round sends a signal to the market regarding Smart Health's goals, growth, and positive trajectory.

 

Sword Health also recently unveiled its most significant technological advancement to date —Phoenix. The AI-based solution is poised to revolutionize care aimed at fighting physical pain, by delivering independent, clinical-grade care to patients worldwide. Phoenix is set to roll out across Sword Health's platforms in the coming months, delivering an authentic clinical experience by guiding and reacting to patients in real-time.

 

Sword Health is looking to deliver accessible healthcare and address public health challenges on a global scale. This aligns with current market trends, which indicate a significant increase in the adoption of health tech. For example, the worldwide digital healthcare market is projected to reach $504.4 billion by 2025, indicating growing demand for innovative healthcare solutions.

 

Bento plans to take advantage of health tech's global spotlight. In a recent interview, he hinted at an upcoming Sword Health IPO. He expressed that if the company continues to grow and the macroeconomic environment remains favourable, the company could go public as soon as 2025. An IPO would mark a significant step forward in Sword Health's reach and competitive positioning within the marketplace, instilling optimism and confidence in the company's future.


Author: Chloe Bechard, 2024 Summer Student

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