Sword Health unveils Phoenix, AI Care Specialist, after $130m raise and $3B valuation

Phoenix is the next evolution of Sword's AI Care platform, combining AI and human clinicians to make world-class care infinitely more accessible, scalable, and cost-effective

New York, June 4, 2024 – Sword Health, the pioneer of AI Care, artificial intelligence powering the delivery of care, announced today a financing round of $130 million in a mix of primary and secondary sale to provide liquidity to current and former employees and early investors. This brings the total funding to $340 million to date, and the company is now valued at $3 billion—up 50% from its Series D valuation.

Sword Health also introduced Phoenix, the AI Care Specialist, that guides and reacts to members during their sessions through natural conversation, bringing the clinical experience and expertise of a clinician to wherever the patient is. Phoenix, named for its ability to get members back to living vibrant lives, will be integrated across the Sword platform, starting with Thrive, its solution for physical pain, and then into Bloom, its women’s pelvic health care solution, in the coming months.

Globally, billions of people lack access to high-quality care, including two billion people suffering from musculoskeletal issues, and two billion from either pelvic health or mental health conditions. To address these issues, Sword has reinvented the way care is delivered, starting with back, joint, and muscle pain and has expanded to women’s pelvic health issues and sedentariness. The company has delivered over three million AI sessions to members to date and is available to over 10,000 employers across three continents.

Phoenix is the company’s biggest technology leap since it launched its first AI-based care solution in 2015. It is the only AI solution that enables an independent and clinical-grade delivery of care to patients—anywhere, anytime. Phoenix includes:

• Natural conversation: Phoenix always maintains a deep historical knowledge of the patient’s condition and treatment progress, and engages them in dialogue in real time to assess how they are feeling, suggest changes to the session, provide motivation, and more.
• Real-time feedback: As the patient moves through the session, Phoenix monitors their progress through their program while factoring in their verbal feedback. This allows Phoenix to assist in the delivery of the optimal session within the human clinician’s pre-set program parameters.
• Clinical analysis: After each session, Phoenix summarizes the patient’s performance data to identify trends and surface actionable insights and recommendations for the human clinician, making it easier for them to optimize the patient’s progression.

“Since pioneering the novel concept of AI Care during my PhD over a decade ago, we’ve been relentlessly working on its evolution through many different iterations. Now, the launch of Phoenix represents the largest leap forward of our model to date, and we’re very excited about the impact it will have on how the world accesses and receives care,” said Virgilio “V” Bento, Founder and CEO of Sword Health. “With more than three million AI sessions delivered to date, we’ve proven that our AI Care model is able to deliver on our initial vision of using AI to make access to high-quality care readily available, removing barriers to access to care, while cutting millions of dollars in healthcare waste for our clients.”

This most recent funding round—which comes on the heels of a year in which Sword nearly tripled its revenue—unlocks even more possibilities when it comes to revolutionizing care delivery and expanding AI Care into new markets and categories.

"AI is the only way to deliver personalized and accessible healthcare to everyone," said Vinod Khosla, founder of Khosla Ventures. "We bet on Sword early on based on their bold vision of creating a new category of healthcare powered by AI. Their execution has been world-class, and we are thrilled to continue working with them as they bring their AI Care platform to more people around the globe."

Phoenix will be rolling out throughout 2024. Watch how Phoenix works and learn more at swordhealth.com.

About Sword Health

Sword Health is on a mission to free two billion people from pain by pioneering the field of AI Care. Sword has developed the first AI Care platform, which starts with the expertise of world-class clinicians and builds in the expansive power of proprietary AI to deliver customized care to patients globally, anytime, anywhere. Delivering over three million AI sessions to members to date and available to over 10,000 employers across three continents, Sword holds the majority of industry patents, a 70% win rate in competitive evaluations, and has raised over $300 million in funding from major venture firms, including Khosla Ventures, General Catalyst, and Founders Fund. Ranked the 26th fastest-growing U.S. company on the Inc. 5000 list, Sword is redefining healthcare by building AI designed to make world-class care accessible to all, while saving millions of dollars in healthcare costs for its clients. Visit www.swordhealth.com for more information.