The problem
Employers and health plans pay for costly, hard-to-access in-person physical therapy, surgeries and chronic pain care
What they do
AI-led virtual physical therapy plus women's, mental and cardiometabolic care for employers, health plans
Traction $400M revenue run rate (Mar 2026, CEO), from $240M in Jun 2025; 1,000+ enterprise clients
Hiring trend
- Open roles
- 57
- Ops roles
- 4
- Headcount
- ~1,200-1,600 (before Headspace)
Headcount ~1,325 → ~1,575 Q1 2025 to Q1 2026 (Revelio, ~+19%); LinkedIn ~1,185 (+16.5% YoY); plus Headspace staff from Oct 2026
Hiring in
- Lisbon
- Porto
- Remote (Portugal)
- Remote (US)
Latest news
Oct 2026
Closed all-cash Headspace acquisition (up to ~$300M), after buying Kaia Health in Jan ↗Glassdoor
2.7 ★ 279 reviews ↗Funding
- Last round
- $40M
- Stage
- Late stage (Series E/F)
- Date
- Jun 2025
Led by General Catalyst, Khosla Ventures
- Hiring+257 open roles on the live job board (30+ roles = +2)
- Funding recency+0.5Late stage (Series E/F) · $40M, Jun 2025 (16 months ago): 12–24 months = +0.5
- Traction+1.5Strong growth: $400M revenue run rate (Mar 2026, CEO), from $240M in Jun 2025; 1,000+ enterprise clients
- Red flags−11 significant flag in the last 24 months, −1 eachA2 Academy lawsuit (filed Jul 2024, San Francisco) claims 5% of Sword's equity, ~$200M at its valuation; trial moved from Sep 2026 to May 2027 with settlement talks underway. Minor, not scored: Oct 2024 cut of 13 physical therapists (~17% of treating PTs, company called it performance-based); post-close layoffs of Headspace staff (Oct 2026, scale undisclosed); Glassdoor 2.7 with low senior-management scores.ECO News: Sword Health US lawsuit set for trial, 5% stake worth ~$200M (Jun 2026) ↗ · ECO: Sword's US trial postponed to May 2027, settlement talks admitted (Jul 2026) ↗ · Business Insider: Sword cuts 13 physical therapists as it ramps up AI (Nov 2024) ↗ · LinkedIn: Headspace employee laid off as part of the Sword acquisition (Oct 2026) ↗ · Glassdoor: Sword Health reviews (2.7, ~279 reviews) ↗
- Total3.02 + 0.5 + 1.5 − 1 = 3.0 → Steady (1.5–3.49)
Distance (Half) is a separate read on how long the lead can last. It doesn't change the score.
Distance
Half · edge: learns from use
Strong #2 in digital MSK behind public Hinge Health, with fast, broad adoption ($400M run rate, 1,000+ enterprise clients), AI care trained on 10M+ sessions, and new women's, mental and cardiometabolic lines bolstered by Kaia and Headspace; a pending $200M equity suit and acquisition integration are the exposure.
Sources: Virgílio Bento (CEO) on LinkedIn: $400M revenue run rate (Mar 2026) ↗ · Sword: acquires Kaia Health; 700K members, 10M AI sessions, 1,000+ enterprise clients (Jan 2026) ↗ · GlobeNewswire: Sword to acquire Headspace (Sep 2026) ↗ · TechCrunch: Sword raises $40M at $4B, $240M run rate, IPO pushed to 2028 (Jun 2025) ↗
Watch-outs
A2 Academy lawsuit (filed Jul 2024, San Francisco) claims 5% of Sword's equity, ~$200M at its valuation; trial moved from Sep 2026 to May 2027 with settlement talks underway. Minor, not scored: Oct 2024 cut of 13 physical therapists (~17% of treating PTs, company called it performance-based); post-close layoffs of Headspace staff (Oct 2026, scale undisclosed); Glassdoor 2.7 with low senior-management scores.
Sources: ECO News: Sword Health US lawsuit set for trial, 5% stake worth ~$200M (Jun 2026) ↗ · ECO: Sword's US trial postponed to May 2027, settlement talks admitted (Jul 2026) ↗ · Business Insider: Sword cuts 13 physical therapists as it ramps up AI (Nov 2024) ↗ · LinkedIn: Headspace employee laid off as part of the Sword acquisition (Oct 2026) ↗ · Glassdoor: Sword Health reviews (2.7, ~279 reviews) ↗
Last checked Oct 25, 2026