Verily secures $700M investment round

Thursday, 17. December 2020 18:25

Alphabet Inc.'s Verily announced on Thursday that it raised $700 million in a funding round led by its parent company, Silver Lake, Temasek, and Ontario Teachers' Pension Plan.

The company said it plans to use the capital to expand its Baseline and Verily Health Platforms businesses. In addition, Verily plans to advance its life sciences programs across surgery, pathology, and immunology.

"We're humbled and excited about the opportunity to expand the scope and rapidly scale our products and services. With this new round of funding from our largest investors, they are strengthening their commitment to help expedite our original vision," CEO Andrew Conrad stated.

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Breaking the News / MD