Virtual MSK answer Sword Health takes $163M

The center illness downside in America is mentioned so much (and for good reason) however there may be every other downside that is simply as prevalent: musculoskeletal ache. It’s estimated that over 126 million Americans, or part the grownup inhabitants of the United States, has the sort of prerequisites, be it arthritis, which is the most typical reason behind incapacity, or again and neck ache, which impacts just about one in 3 million adults.

With that during thoughts, various startups have begun to step as much as in the end cope with those problems. That contains Sword Health, an organization that gives an end-to-end answer for MSK problems, ranging from prevention, then serving to with acute prerequisites and protracted ache, the entire option to post-surgical restoration, all achieved nearly.

On Monday, the corporate announced a large new spherical of investment, taking a $163 million Series D that has valued it at $2 billion. The spherical was once led via Sapphire Ventures, as smartly new traders Sozo Ventures, Willoughby Capital, ADQ and Localglobe, at the side of General Catalyst, Khosla Ventures, Founders Fund, Bond, Transformation Capital, and Green Innovations. This greater than doubles the corporate’s overall investment, bringing it to greater than $320 million.

Founded in 2014, the corporate’s program, referred to as Sword+, is composed of 3 other elements, beginning with ASK a PT, which permits contributors to hook up with bodily therapists at any time of day, who will solution their questions on their bodily ache. The bodily therapist will create a customized program for that member. The 2d phase is known as Digital Guardian, consisting of a virtual therapist who tracks the member’s growth and corrects their shape in actual time thru wearable and video movement seize.

The ultimate a part of this system is known as The Academy, and this a part of the answer offers member custom designed instructional content material.

By combining those 3 components, the Sword Health answer has led to a 50% relief in ache, a 64% relief in surgical treatment intent, and a 67% relief in drugs intake for its contributors. It has additionally ended in 34% in value financial savings.

Like many different firms within the virtual well being area, Sword has noticed considerable enlargement because the starting of the pandemic: within the ultimate 18 months, the corporate says that 3 out of 4 employers that carried out head-to-head critiques amongst MSK answers have decided on Sword. The corporate is now running with insurers, well being programs, and employers in the USA, Canada, Europe, and Australia.

“I started SWORD after a traumatic personal experience where I saw first-hand the challenges that families face when they have to recover a loved one,” Virgilio Bento, founder and CEO of SWORD Health, mentioned in a commentary.

“It’s been truly humbling to see the impact SWORD is having on thousands of members across the globe. With this new funding, we will accelerate our value creation for members, self-insured employers and health plans, as we continue to build the flagship digital MSK solution in the healthcare world, everywhere and for everyone.”

The MSK area

As discussed above, there are a variety of startups within the MSK area competing for greenbacks presently, essentially the most widely recognized of which is most likely Hinge Health, a developer of again and joint ache care pathways, which mixes wearable sensor-guided workout treatment with behavioral exchange, at the side of one-on-one well being training and training. The corporate raised a $600 million round, at a $6.2 billion valuation, in October, giving it over $1 billion in investment.

There’s additionally Kaia Health, a supplier of digital care that makes use of gadget finding out to offer sufferers customized care that they may be able to get entry to on their very own units, and Luna On-Demand Physical Therapy, which sends bodily therapists into the affected person’s house. The two firms just lately announced a partnership by which Kaia will be offering Luna’s services and products as a part of its platform.

There’s additionally Clearing, a healthcare platform concerned about offering opioid-free ache reduction, which has raised $20 million, and Vori Health, an organization that gives virtual and in-person musculoskeletal care, which raised greater than $50 million in July from Intermountain Healthcare and Ascension.

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