The oversubscribed round propels SWORD Health to a $2B valuation — the company was last valued at $471M in June 2021. Here are the top-line bullets you need to know.
SWORD Health, a provider of digital physical therapy technology for musculoskeletal (MSK) pain, has raised $163M in a Series D round and $26M in a secondary round. The round drew participation from ADQ, Bond, Founders Fund, and General Catalyst, among others.
HOW’S THE COMPANY PERFORMING?
- New York-based SWORD Health provides its technology to insurers, employers, and health systems across the US, Europe, and Australia.
- This year, the company’s valuation and client base have grown by 20x and 12x, respectively.
- SWORD Health recently launched an end-to-end clinical platform in order to provide patients with 24/7 access to physical therapists, a wearable and connected video monitoring device for movement correction, and educational content.
- The company’s client base includes Foot Locker, Carter’s, Health Catalyst, and Generali.
Source: SWORD Health
WHY DOES THE MARKET MATTER?
- The global digital health market is expected to reach a value of $767.7B by 2030, growing at a CAGR of 17.9%, according to Allied Market Research.
- The digital health industry has seen rapid growth as employers bank on technology to reduce medical costs.
- The global healthcare industry saw $30.7B in funding across 1,904 deals in Q3’21. The acceleration of digital transformation initiatives was a major contributor, with digital health startups accounting for around 40% of both deals inked and funding raised in the quarter ($12.8B across 727 deals).