Sword Health, a healthcare tech company originally founded by Virgílio Bento, recently raised $40 million. This funding increase has raised the company’s valuation to an astounding $4 billion. The latest funding brings the company’s total capital raised to $380 million, showcasing its financial strength as it celebrates a decade in operation. In recent months, Sword Health has specifically been using this investment to increase its strategic acquisitions. This transition will position the company to continue its rapid expansion in an identifying healthcare environment.
It’s no wonder that the company proved financial naysayers with its strong financials, including hitting cash-flow positivity. The news comes with co-founder and CEO of Sword Health, Dr. Bento, who is the company’s CEO, shared his vision for what AI care specialist, Phoenix can do. Among his ideas are the expansion of remote healthcare services. This expansion will allow treatment for many conditions like cardiovascular care, gastroenterological health, and speech therapy, along with care for musculoskeletal pain and pelvic floor care.
Sword Health last year raised growth capital successfully with $30 million round at $3 billion valuation. The current round of funding represents a historic jump in its competitive market standing. Bento expects to raise a further $50 million next year and is aiming for a valuation of $5 billion.
Despite our plans to grow even further, this funding will allow us to extend our growth even wider, Bento stated. At the end of that education period, I realized that if you ask me why we shouldn’t IPO, I can give you 10 reasons. If you ask me why we should IPO, it’s very hard to find one reason.
The company’s planning to further grow its business with a tender offer it expects to launch next month. Investment speculation is rife over a possible initial public offering (IPO) for Bento. Bento cautioned that it’s likely to come much later than anyone thinks. “It’s going to be much later than everyone expects,” he said. He further elaborated on his vision for the IPO, stating, “I want to IPO when I have lots of different proof points at scale in many different care verticals — so maybe 2028.”
Sword Health continues to iterate on its product and grow its customer base and availability. The company is still focused on providing the best possible remote healthcare solutions. Yet it is the company’s commitment to care innovations that put it in the driver’s seat for future success as the market becomes more competitive.