A naukri.com initiative
TechCrunch
1M
319
Image Credit: TechCrunch
Sword Health nabs $40M at $4B valuation, pushes IPO plans to at least 2028
- Sword Health, the AI-powered digital health startup, secures $40 million at a $4 billion valuation with General Catalyst leading the funding.
- The funding round marks a 33% increase from the previous year's $3 billion valuation.
- CEO Virgílio Bento aims to enhance the company's valuation and prepare for strategic acquisitions with the additional capital.
- Initially considering an IPO for 2025, Sword Health founder now eyes a potential IPO in 2028 to broaden remote healthcare offerings beyond existing services.
- Bento is diversifying the company's AI care specialist, Phoenix, to cater to various health conditions apart from musculoskeletal and pelvic care, including cardiovascular and speech therapy.
- The founder has been learning about managing a public company and is currently unconvinced about the necessity of an IPO despite the company's healthy financials.
- Bento highlights that private companies like Ikea and Lego have succeeded without going public and emphasizes the availability of private capital and liquidity for employees through secondary markets.
- Sword Health plans a tender offer soon, anticipates raising more capital next year, and predicts a $50 million raise at a $5 billion valuation in the future.
- The latest funding round, led by General Catalyst, also saw participation from Khosla Ventures, Comcast Ventures, and others, bringing the company's total funding to $380 million.
Read Full Article
19 Likes
For uninterrupted reading, download the app