Press Release December 22, 2021

Sword Health Raises $163 Million and Reaches $2 Billion Valuation

The Life Sciences team advised SWORD Health on its Series D financing. This brings the total primary and secondary transactions to more than $320 million invested in SWORD, with the current round valued at $1.8 billion, catapulting the company to healthtech unicorn status. The primary funding round of $163 million was heavily oversubscribed, resulting in investors purchasing an additional $26 million, in a secondary transaction which propelled the valuation to $2 billion.

SWORD is one of the world’s fastest growing virtual musculoskeletal (MSK) care providers, with a mission to free two billion people from physical pain. It delivers 100% of care to members through Doctors of Physical Therapy and the FDA-listed SWORD Health Digital Therapist.

The funding round was led by Sapphire Ventures, with participation from new investors Sozo Ventures, Willoughby Capital, ADQ, and Localglobe, and from all major investors including General Catalyst, Khosla Ventures, Founders Fund, Bond, Transformation Capital, and Green Innovations.

The Goodwin team was led by Craig Schmitz and Steven Green and included Griffin McCloskley, Kevin Walsh, Ora Grinberg, Brad Weber, and Casey Hepburn.

For more details, read the press release and articles in Bloomberg, Fierce Healthcare, and MedCity News.