Verily, the Dallas-based AI health technology company, has announced a $300 million investment round led by Series X Capital. This funding marks a significant shift for the company, as Alphabet Inc., Google's parent company, transitions from a controlling stake to a minority position. Other investors participating in the round include UCHealth and the University of Colorado Anschutz.
The investment will enable Verily to accelerate the development of its AI-native precision health platform. The company aims to leverage AI to harmonize healthcare data and deploy actionable intelligence into research and care workflows. Stephen Gillett, Chairman and CEO of Verily, stated the funding would support solutions that combine clinical and scientific rigor with AI to deliver the next generation of healthcare. He emphasizes a focus on making healthcare "as precise as it is personal".
Verily has also transitioned its legal structure from an LLC to a corporation, now operating as Verily Health Inc. This move signifies a new chapter for the company, which originated within Google X as one of Alphabet's early "Other Bets". Ruth Porat, President & Chief Investment Officer at Alphabet and Google, expressed support for Verily's mission to address healthcare challenges with technology. She noted that bringing in new investors will allow Verily to further scale its business and improve patient outcomes.
Verily's platform integrates various data sources, including electronic health records, genomic data, and wearable sensor outputs, using AI and machine learning. The company has recently announced partnerships with Samsung's Galaxy Watch and Salesforce. These collaborations aim to accelerate clinical research and power enterprise precision health solutions. The company moved its headquarters from the Bay Area to Dallas in 2024.
