, had officially closed its latest funding round on the holiday to the tune of $25 million. It was the maximum amount he wanted to raise for the company's Series B that came less than a year after its public launch in the US. Transformation Capital led the round, which also included existing investors Khosla Ventures and Founders Fund.hoping to reimagine physical therapy for a virtual world.
At first, the company grew rapidly as more patients were shut out of traditional physical therapy clinics. Shortly after, companies began reviewing the benefits they offered in the name of cost-cutting and SWORD, which makes profits based on large contracts with employers, suffered. Once the dust had settled, however, SWORD rebounded and then some, Bento said. The resulting growth, which Bento said includes the company's 75% success rate in signing deals with companies they've pitched, was what caught investors' eyes when he started thinking about ways to sustain the growth beyond the coronavirus pandemic.
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