Agência para o Investimento e Comércio Externo de Portugal


Portuguese health-tech startup SWORD Health, a company that provides virtual therapy for musculoskeletal conditions, announced that it has raised €145M in its series D round of funding.

With total fundings of $320M and the current round valued at $1.8B, Sword Health has earned the ‘Unicorn’ status.


The round was led by Sapphire Ventures along with the participation of new investors Sozo Ventures, Willoughby Capital, ADQ and Localglobe.


The company lets patients take their therapy at home, boosting adherence and generating optimal therapeutic results. It is one of several startups touting the possibility of reimagining physical therapy in a virtual world. In musculoskeletal conditions such as neck or shoulder pain, it uses motion-tracking technology in combination with treatment plans from accredited doctors or physical therapists.


“SWORD Health’s approach to resolving MSK disorders is truly differentiated. Their unique PT + Digital Therapist model, which includes an FDA listed device, has gained significant market acceptance evidenced by their 12x customer growth,” said Rajeev Dham, Partner at Sapphire Ventures.