Sword Health nabs $40M at $4B valuation, pushes IPO plans to at least 2028

Sword Health, an AI-powered digital health startup, has raised $40 million at a $4 billion valuation, a 33% jump from the $3 billion price tag it earned just a year ago. The funding was led by returning investor, General Catalyst.

Even though 10-year-old Sword Health is cash-flow positive, its CEO and founder, Virgílio Bento, told TechCrunch that he opted to raise additional capital for two key reasons: to update the company’s valuation, and have funds readily available for strategic acquisitions.

Sword Health, which began as a virtual…