Khosla leads $9m series-A extension for Sword Health
Khosla Ventures has led a $9m series-A extension round for Portuguese startup Sword Health, which specialises in digital physiotherapy.
Vesalius Biocapital, Green Innovations, Founders Fund, Lachy Groom and Faber Ventures also took part in the investment, which brings Sword Health's total funding to $22m.
This round is an extension of the $8m series-A provided by Khosla Ventures in April 2019, alongside several existing angel and seed investors, including previous backers Green Innovations and Vesalius BioCapital.
Sword Health intends to use the fresh capital to boost its growth and global expansion, primarily in the US market, while developing new digital therapies and further clinical trials. It also plans to invest in distribution, partnerships, sales and marketing as well as in developing new strategic products and features.
Previous funding
Vesalius Biocapital and Green Innovations led a $4.6m funding round for Sword Health in April 2018. Vesalius deployed capital from its €120m Vesalius Biocapital III fund, which targets European life sciences companies that specialise in drug development, medtech, diagnostics and e-health. Several European and US private investors also took part in the funding round.
Company
Established in 2015, Sword Health develops a digital physiotherapy platform named Sword Phoenix, which offers patients with musculoskeletal disorders task-specific programs for interactive rehabilitation exercise.
The tool uses motion tracking devices combined with an AI-powered digital therapist, providing real-time feedback during treatment and enabling patients to be treated remotely in their own homes.
Sword Health employs 35 staff and has users in Portugal, Norway, Canada, Australia and the US. It is headquartered in New York and Porto, with additional offices in Chicago, Salt Lake City and Sydney.
People
Khosla Ventures - Vinod Khosla (founding partner).
Founders Fund - Delian Asparouhov (principal).
Sword Health - Virgilio Bento (founder, CEO).
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