SWORD Health attracts €8.6 million in Series A round
The Portuguese startup SWORD Health has raised €8.6 million from a Series A round.
It means that added to the investment it attracted in April 2019, the medical technology company which specialises in pain management, has raised €15.6 million of Series A financing.
The financing is led by two investors from Silicon Valley – Founders Fund and Khosla Ventures – and is accompanied by Green Innovations, Lachy Groom, Vesalius Biocapital and Portuguese Faber Ventures.
SWORD says that with this new round it can “increase its market presence, invest in distribution, partners, sales and marketing and, at the same time, strategic clinical and operational investments to improve the recovery experience of its patients.”
Founded in 2015, the startup developed technology capable of treating chronic and post-op pain which is currently the only treatment with clinical results that are superior to human physiotherapy.”
In clinical trials, SWORD improved on conventional physiotherapy by 30%.
“At Sword we have adopted a disciplined and growth incremental approach. Given the huge interest of various investors and the demand that we have received from the market, we have decided that this is the right moment to expand and make SWORD the new gold standard in musculoskeletal treatment”, explains Virgilio Bento, SWORD founder and CEO.
Vinod Khosla, founder of Khosla Ventures said that the duplication of investment made last year reinforced the company’s position as a potential leader in a market that represents US$190Bn.
“SWORD has now proven not only that it has significantly improved the clinical results of patients but at the same time had reduced treatment costs. This is the future of health”, he said.
Since it was founded in 2015, SWORD Health has already obtained a total investment of US$22 million.