Sword Health Secures $130 Million in Funding, Valuation Soars to $3 Billion
Sword Health, a pioneer in AI-powered healthcare, has announced a significant financing round of $130 million through a mix of primary and secondary sales. This latest infusion of capital not only provides liquidity to current and former employees and early investors but also boosts the company’s valuation to $3 billion, a remarkable 50% increase from its Series D valuation.
Introduction of Phoenix
Sword Health has unveiled Phoenix, an innovative AI Care Specialist that represents the next evolution of the company’s AI Care platform. Phoenix combines artificial intelligence with human clinical expertise to deliver accessible, scalable, and cost-effective care. This AI specialist guides and interacts with members through natural conversation during their sessions, effectively bringing the clinical experience to wherever the patient is.
Expanding Care Solutions
Phoenix will be integrated across the Sword platform, starting with Thrive, which addresses physical pain, and subsequently into Bloom, focused on women’s pelvic health care. Sword Health’s mission is to address the global shortage of high-quality care, particularly for the billions suffering from musculoskeletal and pelvic health issues.
Technological Leap
Phoenix marks the company’s most significant technological advancement since launching its first AI-based care solution in 2015. It is the only AI solution that enables independent and clinical-grade delivery of care anywhere and anytime. Key features of Phoenix include:
- Natural conversation: Maintains a deep historical knowledge of the patient’s condition and treatment progress, engaging them in real-time dialogue to assess feelings, suggest session changes, and provide motivation.
- Real-time feedback: Monitors patient progress through their program, factoring in verbal feedback to assist in delivering optimal sessions within pre-set parameters.
- Clinical analysis: Summarizes performance data post-session to identify trends and provide actionable insights and recommendations for clinicians, optimizing patient progression.
CEO’s Vision
Virgilio “V” Bento, Founder and CEO of Sword Health, expressed excitement about Phoenix’s launch, emphasizing the impact it will have on global healthcare access.
“With more than three million AI sessions delivered to date, we’ve proven our AI Care model’s ability to make high-quality care readily available, removing barriers to access, and cutting millions of dollars in healthcare waste for our clients.”
Virgilio “V” Bento, Founder and CEO of Sword Health
Financial Growth and Future Prospects
This recent funding round follows a year of exceptional growth for Sword Health, with the company nearly tripling its revenue. The additional capital unlocks new possibilities for expanding AI Care into new markets and categories. Vinod Khosla, founder of Khosla Ventures, highlighted AI’s pivotal role in delivering personalized and accessible healthcare, praising Sword Health’s bold vision and world-class execution.
As Phoenix rolls out throughout 2024, Sword Health is poised to revolutionize care delivery with its cutting-edge AI solutions. With over 10,000 employers across three continents already utilizing their platform, Sword Health continues to redefine healthcare by making world-class care accessible to all while saving millions in healthcare costs.
