Sword Health has unveiled its latest innovation, an artificial intelligence (AI) assistant named Phoenix, designed to engage patients naturally during physical therapy sessions.
In addition to the introduction of Phoenix, the company has announced a successful $130 million funding round, bringing its total funding to $340 million and valuing the firm at $3 billion — a 50% increase from its previous valuation, Sword Health revealed in a press release on Tuesday (June 4).
Throughout 2024, Phoenix will be integrated into Sword Health’s platform, starting with its solutions for back, joint, and muscle pain (Thrive) and women’s pelvic healthcare (Bloom), as outlined in the release.
Virgilio “V” Bento, Founder and CEO of Sword Health, stated, “With more than 3 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.”
Phoenix is engineered to provide care to patients anytime and anywhere. Currently accessible to over 10,000 employers across three continents, the AI assistant engages patients in real-time dialogue before and during therapy sessions, offering assessments, session adjustments, and motivation. It also summarizes the patient’s performance data post-session to assist human clinicians in optimizing their progress.
The recent funding will enable Sword Health to provide liquidity to current and former employees and investors, explore new care delivery opportunities, and expand its solutions into new markets and categories.
Vinod Khosla, Founder of Khosla Ventures, an investor in Sword Health, commented, “AI is the only way to deliver personalized and accessible healthcare to everyone. We bet on Sword early on based on their bold vision of creating a new category of healthcare powered by AI.”
