Verily Announces $1 Billion Investment Round

Alphabet has led a $1 billion dollar investment round in Verily to continue the health tech firm’s expansion of its precision health businesses. 
 
The new capital will be used to support various core initiatives from Verily focused on real-world evidence generation, healthcare data platforms, research and care, and the underlying technology that drives this work, which all share the goal of making healthcare better and more tailored to individuals. The company will also consider further investment in strategic partnerships, global business development, and potential acquisitions.

Verily also is changing up its top leadership.
 
Company founder Andy Conrad will become executive board chairman and current president Stephen Gillett will be promoted to CEO, with both changes becoming effective in January. These new roles are the result of thoughtful succession planning led by Conrad and the board and in recognition of the skills and experience required to lead Verily as it becomes a more operationally and commercially focused company executing on its precision health strategy, according to Verily.
 
Gillett joined Verily from Google in 2020 as an operational advisor to the company and to lead Verily’s effort to establish a Cybersecurity Center of Excellence. In November 2020 he was named chief operating officer. Before joining Verily, Gillett was co-founder and CEO of Chronicle, an Alphabet cybersecurity company that is now part of Google Cloud. He continues to be an active advisor to GV and X. Prior to Alphabet, Gillett held a number of executive roles at companies in a variety of industry sectors including Best Buy, Starbucks, and Symantec.
 
Separately, Chief Financial Officer Deepak Ahuja has left Verily for another opportunity but remains an advisor to Verily. The company has begun a search for his replacement.
 
Verily is a subsidiary of Alphabet that is using a data-driven, people-first approach to change the way people manage their health and the way healthcare is delivered. Launched from X in 2015, Verily’s purpose is to bring the promise of precision health to everyone, every day. Verily is focused on generating and activating data from a wide variety of sources, including clinical, social, behavioral and the real world, to arrive at the best solutions for a person based on a comprehensive view of the evidence. Verily uses its recognized expertise and capabilities in technology, data science and healthcare to enable the entire healthcare ecosystem to drive better health outcomes.