Verily today announced a $300 million investment round led by Series X Capital, with participation from Alphabet, UCHealth, the University of Colorado Anschutz and other investors, to advance the next phase of its health AI strategy.
With this funding round, the company said Alphabet will be a significant minority investor in Verily, while no longer having a controlling stake.
“Today is an important step in our mission to bring the promise of precision health to everyone,” said Verily CEO Stephen Gillett in a statement. “From research to care, our customers need solutions that bring the best of clinical and scientific rigor together with AI to deliver the next generation of healthcare - one that is as precise as it is personal. Series X Capital, Alphabet, UCHealth, the University of Colorado Anschutz and our many investors will be fantastic partners in this transformation of healthcare.”
Verily has transitioned its legal structure from an LLC to a corporation, with the official new name of Verily Health Inc, and plans to accelerate its AI-native precision health platform strategy and roadmap to help customers harmonize their healthcare data, model and deploy actionable intelligence into research and care workflows.
Verily has recently announced a number of commercial partnerships, including a new collaboration with Samsung’s Galaxy Watch to help life sciences customers accelerate clinical research through biomarker development on the Pre platform, and a strategic partnership with Salesforce, announcing integration of the Verily Pre Platform with Agentforce Health to power enterprise precision health solutions. These announcements build on Verily’s recent strategic collaboration with UCHealth, the University of Colorado Anschutz, and RefinedScience who are using the Verily Pre platform for AI-powered research and care transformation.
Verily initially graduated from Google X ten years ago, as one of Alphabet’s earliest “Other Bets”, with a focus on breakthrough science and health tech innovation.
“At Alphabet, we applaud Verily’s tenacity in using technology to address longstanding challenges in the healthcare industry,” said Ruth Porat, President & Chief Investment Officer, Alphabet and Google. “Bringing in new investors, alongside Alphabet’s ongoing involvement, enables Verily to further scale the business to help improve patient outcomes and lower the cost of healthcare delivery through their AI health platform.”
