Digital MSK company SWORD Health hits $2B valuation

Digital musculoskeletal (MSK) care firm SWORD Health introduced Monday it had raised $163 million in Sequence D funding. The oversubscribed Sequence D allowed for a secondary $26 million spherical, bumping SWORD’s valuation to $2 billion.

SWORD has already closed two different funding rounds this yr: In January, it raked in $25 million in Series B funding, and the digital MSK startup scored $85 million in Series C funding this summer. SWORD stated its investments now complete $320 million.

The spherical was led by Sapphire Ventures with participation from Sozo Ventures, Willoughby Capital, ADQ, Localglobe, Normal Catalyst, Khosla Ventures, Founders Fund, Bond, Transformation Capital and Inexperienced Improvements.

WHAT IT DOES

SWORD provides digital MSK care and bodily remedy for prevention, acute situations, persistent ache and post-operative restoration.

The corporate pairs sufferers with a bodily therapist they’ll discuss with through telehealth to create a care plan. It additionally provides the lately launched SWORD+, which incorporates 24/7 entry to a bodily therapist, academic content material and a wearable that goals to stop office accidents. 

SWORD acquired Vigilant Technologies, maker of a shirt-collar wearable that makes use of haptic suggestions to enhance posture and reduce down on accidents within the office, in early October. 

WHAT IT’S FOR

SWORD plans to make use of the capital to speed up development and develop its partnerships with payers. 

“I began SWORD after a traumatic private expertise the place I noticed first-hand the challenges that households face once they need to get better a liked one,” founder and CEO Virgilio Bento stated in a press release.

“It’s been really humbling to see the impression SWORD is having on 1000’s of members throughout the globe. With this new funding, we are going to speed up our price creation for members, self-insured employers and well being plans, as we proceed to construct the flagship digital MSK resolution within the healthcare world, in every single place and for everybody.”

MARKET SNAPSHOT

Digital MSK is a crowded area in digital well being, and a few startups are boasting massive funding rounds and valuations. 

In late October, Hinge Well being scooped up a whopping $400 million in Series E funding, plus a $200 million secondary funding to amass possession, bringing its valuation to $6.3 billion. The corporate has additionally embarked on a pair acquisitions up to now this yr. 

DarioHealth, which additionally provides digital healthcare for hypertension, diabetes and weight reduction, recently launched its own MSK platform called Dario Move. It stepped into the area earlier this yr with its purchase of Upright Technologies, an MSK well being firm that focuses on linked posture correction gadgets.

Kaia Well being, which announced a $75 million Series C in April, lately partnered with an in-person physical therapy provider to enrich its digital instruments. 

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