Alphabet Company Verily Receives $1 Billion Investment

VerilyVerily Life Sciences, a life sciences research and engineering organization, received a $1 billion investment.

The round was led by Silver Lake with participation from Ontario Teachers’ Pension Plan and other global investment management firms.

The company will use the capital for growth in key strategic areas, including investments in strategic partnerships, global business development opportunities, and potential acquisitions. In conjunction with the deal, Ruth Porat, chief financial officer at Alphabet, and Egon Durban, managing partner and managing director of Silver Lake, will join Verily’s operating board.

Led by Andrew Conrad, CEO, Verily is a life sciences research and engineering organization focused on improving healthcare outcomes by applying the latest scientific and technological advances to significant problems in health and biology. By combining capabilities in data organization and analytics services with scientific and product engineering expertise, the company is targeting the dual objectives of creating tools and platforms that capture a deep and broad set of health data and organizing the data so that it is useful and actionable.

Verily is an Alphabet company.

FinSMEs

04/01/2019

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