SWORD Health, a tech-enabled physical therapy provider, has raised $8 million in a Series A investment round led by Khosla Ventures and other prominent angel investors.
According to the company, 50 percent of Americans struggle with musculoskeletal disorders (MSDs), requiring a yearly expenditure of $190 billion, making it the second biggest cost driver in healthcare. Even though physical therapy is endorsed by the Centers for Disease Control and Prevention as the best solution to treat of MSDs, current treatment solutions still include the use of opioids and surgeries. SWORD Health’s ultimate goal is to cut the costs of MSDs in the US by half by bringing its physical therapy technology to more patients’ homes and expanding its footprint in the US market.
The company plans to use the funding round to further expand the product’s clinical validation and engineering.