A startup operating out of Portugal, SWORD Health, raised $7 million in series A round of funding for a digital physiotherapy solution to enable patients to be treated remotely in their own homes. Backing the round are Khosla Ventures along with support from other business angels as well as existing investors. SWORD Heath CEO, Virgílio Bento, commented that with Sword Phoenix, clinical teams extend their therapeutic footprint to each patient’s home, scale their reach and are able to devote more time to delivering the human touch.
The funds that SWORD Health has acquired will bring them closer to their ultimate goal of cutting the costs of Musculoskeletal Disorders (MSDs) in the U.S. by half. It will also allow the company to further expand the product’s clinical validation and engineering. This is no less than a big step put forward that is going to show its results in the coming time. Read on to know more about the advancement.
About SWORD Health
SWORD Health is a tech-enabled provider of physical therapy. It functions on the basis of pairing its AI-powered digital therapists with human clinical teams to recover patients faster and better. The company is working towards cutting healthcare costs with musculoskeletal disorders by half. This being said, they envision to provide patients with more convenient and effective physical therapy at the comfort of their homes.
The backstory of SWORD Health includes the company’s founder and CEO, Virgílio Bento, expressing, after his met brother with a car accident, he identified a gap between the demand for physical therapy and the ability to deliver it. Following which he pursued a PhD. Post that, Bento decided to address the problem and founded SWORD Health. The company now has offices in San Francisco, New York and Porto.
SWORD Health’s Future Plans
The startup intends to use the funds received to accelerate its expansion into the United States. SWORD’s prime goal is to bring its digital therapist home to as many patients. Along with that, it aims to develop the engineering capabilities of its product, to invest in its clinical validation. The clinical validation is supposed to show that the SWORD’s technology is more effective in patient recovery than conventional physical therapy.
Since musculoskeletal care has had very little innovation in the past 50 years, and it is still one of the most expensive areas in healthcare. With SWORD’s solution, it aims to disrupt the physical therapy landscape with their end-to-end technical approach that enables exponentially more efficient delivery of care for patients and payers.
SWORD Health is already on the path to work with some of the largest insurers in the United States. They are aggressively working to treat and prevent musculoskeletal diseases as much as possible. The prime aim of the company is to halve the costs of these pathologies in the US, while still delivering higher quality therapy and patient comfort.
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