Portuguese founded Sword Health brings in $163 million at $2 billion valuation
Summary
Digitial musculoskeletal therapy provider Sword Health has raised $163 million in a Series D funding round, now giving the Porto-founded company a $2 billion valuation. Launched in 2015, the company aims to reduce, if not eliminate musculoskeletal pain by pairing its members with a licensed physical therapist. The company intends to use a portion of the funding to create 300 new positions over the next few months, primarily in operations, marketing, tech, and people management. “I started Sword after a traumatic personal experience where I saw first-hand the challenges that families face when they have to recover a loved one,” commented CEO Virgílio Bento. Their unique PT + Digital Therapist model which includes an FDA-listed device has gained significant market acceptance evidenced by their 12x customer growth,” said Rajeev Dham, managing director at Sapphire Ventures.