With the round of funding, the startup will "accelerate global expansion, intensify the development of new digital therapies and recruit 300 employees in Portugal and globally over the coming months".
Sword Health has secured $189 million in a Series D round of funding, thus reaching unicorn status. The Portuguese startup, which created the first digital solution for the treatment of musculoskeletal pathologies, is valued at $2 billion. It is the sixth unicorn with national DNA and the fastest Portuguese startup to achieve unicorn status. With this Series D round, the startup will “accelerate global expansion, intensify the development of new digital therapies and recruit 300 employees in Portugal and globally over the coming months”.
“It has been truly rewarding to see the impact Sword is having on thousands of people around the world. With this new round of funding, we will accelerate the creation of value for our customers as we continue to build the leading digital solution for treating musculoskeletal conditions in the healthcare world, available anywhere and for everyone,” says Virgílio Bento, founder and CEO of Sword Health, quoted in a statement.
Sapphire Ventures led this investment round, with new and existing investors taking part, such as General Catalyst, Transformation Capital, Khosla Ventures, Founders Fund, Bond, Green Innovations, among others.
The round announced this Monday comes after Sword Health raised $25 million in a Series B round in January, and secured $85 million in a Series C round last June. To date, the startup has received over $320 million in various rounds of funding.
Created in 2015 by Portuguese Virgilio Bento, with technology headquarters in Porto but a presence on a global scale, Sword Health is the “fastest Portuguese startup to reach unicorn status,” the company reinforces. It is the sixth unicorn with national DNA, after Farfecht, Outsystems, Feedzai, Talkdesk and Remote.