Sword Health is a startup at AI Health Tech, known for helping you manage pain through digital tools, and raised $40 million to expand your mental health footprint and accelerate your expansion plan.
The new round, which would give the company a $4 billion valuation, was led by General Catalyst. Other investors include Khosla Ventures, Comcast Ventures, Lince Capital, Oxy Capital, Armilar, Indico Capital and Shilling. According to Pitchbook, Sword had raised more than $450 million as of September last year.
The company says the funds will be used to strengthen acquisitions, support international growth and build AI models that support a variety of care sectors.
With a fresh $40 million dollars in funding, AI Startup Sword Health will always bring mental health care to the market
In addition to the announcement, the sword introduced the mind. Mind is the latest product aimed at tackling long-standing issues related to mental health care. Mind brings together AI, wearable hardware, and licensed clinicians to provide 24 hours a day or personalized mental health support, and moves away from outdated models of waiting counts for treatment sessions.
The concept is simple. Mental health issues don’t stick to schedules. So why should I care?
Heartily users have access to wearables called M-bands. It tracks environmental signals such as heart rate, sleep patterns, and light exposure. That data will be fed to AI assistants who work with human therapists to provide personalized support, including traditional talk therapy, if necessary.
The system is not fully automated. Clinicians are always involved. For example, if a user experiences a surge in anxiety, the AI may flag it and suggest physical activity. Clinicians can review and approve recommendations or suggest better options.
“Today there’s an anxiety issue. And the way you manage is to talk about it a week from now. That won’t work,” Sword CEO Virgílio Bento told CNBC. “Mental health needs to be constantly having issues. We’re experiencing issues right now. We can help you right away in that moment.”
Bento emphasized that AI is not a replacement for therapists. “AI plays a very important role, and I think the use of AI is very important, but it needs to be used in a very clever way,” he said.
Sword has already worked with early design partners to test his mind, and Bent says his feedback has been positive so far. Some clients have been waiting for the product for several months.
“We believe it is truly the future of how mental health is delivered in the future by us and other companies,” Bent added.
Founded in Portugal and now based in New York, the sword was originally named as a digital tool for physical therapy, pelvic health and exercise support, which provides an alternative to opioids and surgery. The product can be used through an employer or health plan.
Because digital health is showing signs of life after tough years characterized by economic pressure and investor pullbacks. Earlier this month, Omada Health made his NASDAQ debut, with Hinge Health following the NYSE list. Both navigate mixed reactions from the open market.
Heartily, Sword bets that mental health care can move from what people schedule when they are already in crisis to what they are, to what they are constant, accessible and adaptable. If that works, it could mark a great step forward for a sector that has long struggled to provide care when people actually need it.
“In general catalysts, we support companies that drive meaningful change in healthcare, and sword health sits straight at the forefront of that transformation,” says Chris Bischoff, managing director of generalist and sword board director. “By combining sophisticated AI with human clinical expertise, Sword reimagined the entire continuum of care, from physical painkillers to the launch of today’s mind for mental health.
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