Sword Health, an AI-powered virtual physical therapy startup, has raised $30 million and let employees sell $100 million worth of equity to new and existing investors, including Khosla Ventures. The round brings the nine-year-old company’s valuation to $3 billion, a 50% increase from the $2 billion value it garnered in its Series D in November 2021. Sword didn’t need the influx of capital because it’s forecasted to be profitable by the end of the year. However, he liked the signal an updated valuation would send during the tough fundraising conditions of 2024. In the meantime, the company is beefing up its AI. It is introducing a human-like voice for its genAI, named Phoenix, to its musculoskeletal therapy and women’s pelvic health care therapy.
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