- The capital raised by the latest funding round brings the total amount raised by the company to over $15 million.
- The funding would be helping the company in the expansion of engineering & clinical validation of its digital therapist.
SWORD Health (Sword), a Portugal-based tech-enabled physical therapy company, has reportedly announced that it has raised over $8 million in a new Series A investment round that was led by American venture capital firm, Khosla Ventures (Khosla).
Reports cite, the total capital raised by the latest investment round brings the total amount raised by the company to over $15 million. The funding would be helping the company in its planned expansion in the U.S. healthcare market.
According to a press release by Sword Health, the latest funding round would ultimately bring the company closer to its primary goal of reducing the overall cost of Musculoskeletal Disorders (MSDs) by half across the U.S. The funding would be helping the company in expanding the engineering & clinical validation of its digital therapist, named Phoenix.
The CEO of SWORD Health, Virgilio Bento stated that the company wanted to develop something which was performative & gave patients access to therapy in the comfort of their homes at whatever time they wanted without needing the presence of a human guide. Bento further added that the latest funding round was primarily about the company’s expansion in the U.S. with the aim of putting Phoenix in the homes of millions of patients across the U.S.
Using Sword’s digital therapist is relatively easy. The first step involves Sword’s clinical team assessing the patients & creating a therapy program that suits them. The patients also receive a tablet that comes pre-installed with the digital therapist. To ensure that the therapy is being done in a proper manner, an array of motion trackers monitor the patient’s movements with Phoenix giving the patient a real-time feedback.
However, a clinical team also remotely monitors all of the sessions and interacts with the patient as & when needed.