Sword Health Hits $3B Valuation After $30M Funding Round

Sword Health, a pioneering virtual physical therapy startup, has just scored a major win with a $30 million investment and a valuation of $3 billion. To put that in perspective, the company's valuation has more than doubled since its last funding round just last year.

The impressive feat is all thanks to the hard work and dedication of Sword's team, which has been working tirelessly to revolutionize the way we approach physical therapy. The company's CEO and founder, Virgílio Bento, wants to reward his team for their efforts, especially those who have been with him since the beginning.

"We're not in need of the extra capital, but we wanted to show our team that we appreciate their hard work and dedication," Bento said. "It's not every day that you get to raise funds and update your valuation during tough economic times."

Sword Health is already on track to be profitable by the end of the year, but Bento wants to send a clear message about the company's growth and success. "Valuation is an important indicator of our progress, and we want to show our clients and investors that we're doing well."

The $30 million investment will be sitting in the bank, generating interest and helping Sword Health continue to grow and innovate. The company's investors include Khosla Ventures, General Catalyst, BOND, Founders Fund, and others.

Of course, there's no shortage of competition in the virtual therapy space. Hinge Health, a rival company, was last valued at $6.2 billion in 2021 and has recently been working on becoming profitable. Sword Health is also eyeing an IPO in the future, but for now, it's focused on beefing up its AI capabilities.

The company is introducing a new human-like voice for its genAI, Phoenix, which will power all patient interactions and virtual therapy sessions. "It's the final piece of the puzzle that makes Phoenix much more engaging," Bento said.

Overall, Sword Health's latest funding round is a testament to the company's hard work and dedication to revolutionizing the healthcare industry. With its impressive valuation and innovative technology, it's clear that Sword Health is a force to be reckoned with.