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Safe Health.  There's a new rhino with Portuguese DNA - The Observer

Safe Health. There’s a new rhino with Portuguese DNA – The Observer

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It is a sixth rhino (a company valued at more than one billion dollars, about 886 million euros) with Portuguese DNA. The digital physiotherapy company created and led by Virgilio Pinto was worth $2 billion (about 1.7 billion euros) after closing an investment round of $189 million (about 167.6 million euros).

In a statement, Sword Health, which is officially headquartered in New York (USA), but claims to continue to have its “technological headquarters in Porto,” says it is “the fastest Portuguese startup to achieve unicorn status.”

Sword Health was founded in 2015 and is behind a digital platform for treating musculoskeletal disorders, which combines artificial intelligence with the latest sensors. According to the startup, the investment raised will allow “to accelerate the treatment of these diseases through the development of new digital therapies, from prevention to postoperative care.” In addition, the company plans to “accelerate local and global expansion” and hire 300 employees over the next few months.

The funding announced on Monday comes after Sword Health closed a $25 million Series B round in January this year, and after it closed 85 (about 75.3 million). million euros) in one round Series C made in June. So far, the company claims to have received “more than $320 million (about €283.8 million) in various investment rounds”.

Safe Health. Digital Physiotherapy Startup Closes A New $85 Million Investment

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The funding round was led by Sapphire Ventures, with the participation of new investors Sozo Ventures, Willoughby Capital, ADQ, LocalGlobe, and existing investors, “including General Catalyst, Khosla Ventures, Founders Fund, Bond, Transformation Capital and Green Innovations,” the company.

Safe Health. Digital Physiotherapy Startup Closes A New $85 Million Investment

In the note sent to the press, the founder of the company recalls how he created the startup: “Sword was made after a traumatic personal experience where I saw and lived the challenges families face when they have to ensure the physical recovery of a family member.”

In 1994, as the company said in a statement, the businessman’s brother was run over through a footpath and left in a coma that lasted twelve months. “It was necessary to go to the best rehabilitation center in Cuba where each patient had a fully dedicated physical therapist,” he says. Therefore, Virgilio also devoted his studies to minimizing harm in these situations.

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In 2015, the entrepreneur already told part of this story for the watcher, when he also explained that “there is a growing demand for neurorehabilitation services. Thus the company was born in the laboratories of the University of Aveiro, after a doctoral thesis from Virgilio Pinto, who holds a degree in electronic engineering.

It was really gratifying to see the impact of SWORD on thousands of people around the world. With this new round of funding, we will accelerate value creation for our customers as we continue to build the healthcare world’s leading digital solution for musculoskeletal disorders, available anywhere and for everyone. ‘ says the founder.

Currently, as the company notes, “three out of four organizations evaluating musculoskeletal solutions on the market choose Sword Health.” why? “100% of their services are provided by physical therapists, an FDA-listed device [reguladora norte-americana para medicamentos] which provides clinical data for physiotherapists to personalize recovery, third-party validation for both clinical outcomes and cost savings,” says the startup.

Other startups with unicorn status and Portuguese DNA are: Farfetch, OutSystems, Talkdesk, Feedzai (the only company in Portugal), and Remote.

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