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Sword Health raises $130M and its valuation soars to $3B | TechCrunch

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Sword Health, an AI-powered virtual physical therapy startup, has raised $30 million and let employees sell $100 million worth of equity to new and existing investors, including Khosla Ventures. The round brings the nine-year-old company’s valuation to $3 billion, a 50% increase from the $2 billion value it garnered in its Series D in November 2021. The company initially set out to just do the $100 million secondary round that would allow employees and early investors to sell shares, Virgílio Bento, Sword’s CEO and founder, told TechCrunch. But when he saw that the secondary round was oversubscribed, the company also decided to raise a $30 million primary round and update its valuation. “It’s a very intense environment: long hours and high expectations. We wanted to reward our team, especially our early employees,” he said. Sword didn’t need the influx of capital because it’s forecasted to be profitable by the end of the year, Bento said. However, he liked the signal an updated valuati

Sword Health raises $130M and its valuation soars to $3B | TechCrunch Image Credits: Sword Health Startups Sword Health raises $130M and its valuation soars to $3B Marina Temkin 5:00 AM PDT · June 4, 2024 Sword Health , an AI-powered virtual physical therapy startup, has raised $30 million and let employees sell $100 million worth of equity to new and existing investors, including Khosla Ventures. The round brings the nine-year-old company’s valuation to $3 billion, a 50% increase from the $2 billion value it garnered in its Series D in November 2021. The company initially set out to jus

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