Total amount raised
$3.5 Billions
Latest funding date
09/01/2022
Location
Verily has successfully raised funding through multiple rounds, with notable investors including Swiss Re Corporate Solutions and Alphabet. The company's last funding round was on September 29, 2022, from a Secondary Market round.
Keep reading to explore the intricacies of Verily's fundraising journey and the investors backing this innovative health tech platform.
What Is Verily?
Verily, founded in 2015, is an Alphabet health tech company based in South San Francisco, California. The company focuses on leveraging data and AI to improve human health by harmonizing healthcare datasets and providing AI-driven solutions.
Verily's founders include Andrew Conrad, Brian Otis, Jessica Mega, Thomas Stanis, and Vikram Bajaj. The company offers a range of solutions such as precision measurement tools, AI-powered care for chronic conditions, and platforms for clinical operations.
With a workforce of 1001-5000 employees, Verily is dedicated to research, care, and health financing to deliver precision health. Their innovative tools and approaches aim to accelerate evidence generation and enable more personalized care.
How Much Funding Has Verily Raised?
- Private Equity Round
- Amount Raised: $800M
- Date: January 2017
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand research and development efforts in precision health.
- Private Equity Round
- Amount Raised: $1B
- Date: January 2019
- Lead Investors: Silver Lake
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings in health tech.
- Private Equity Round
- Amount Raised: $700M
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing projects and new initiatives in healthcare technology.
- Corporate Round
- Amount Raised: $1B
- Date: September 2022
- Lead Investors: Alphabet, Google
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster efforts in data platforms, research, and technology aimed at individualized healthcare.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: September 2022
- Lead Investors: Swiss Re Corporate Solutions
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To facilitate liquidity for existing shareholders and support strategic growth initiatives.
Total Amount Raised: $3.5B
Current Valuation: Not publicly disclosed
Key Investors
- Alphabet
- Details: Alphabet Inc. is the parent company of Google and its various subsidiaries, including Verily. It is a multinational conglomerate known for its investments in technology, healthcare, and various other sectors.
- Investment Focus Areas: Technology, healthcare, artificial intelligence, data analytics
- Notable Investments: Google, Waymo, DeepMind
- Google
- Details: Google is a subsidiary of Alphabet Inc. and is one of the world's leading technology companies, known for its search engine, advertising services, and various other technology products.
- Investment Focus Areas: Search technology, advertising, cloud computing, artificial intelligence
- Notable Investments: YouTube, Android, Nest
- Silver Lake
- Details: Silver Lake is a global private equity firm focused on investments in technology and technology-enabled industries. It manages over $90 billion in combined assets.
- Investment Focus Areas: Technology, software, internet, fintech
- Notable Investments: Dell Technologies, Airbnb, Twitter
- Temasek Holdings
- Details: Temasek Holdings is a Singaporean investment company with a portfolio spanning a broad spectrum of industries and geographies. It is owned by the Government of Singapore.
- Investment Focus Areas: Financial services, telecommunications, media, technology, transportation
- Notable Investments: Alibaba, DBS Bank, Singapore Airlines
- Swiss Re Corporate Solutions
- Details: Swiss Re Corporate Solutions is a division of Swiss Re, one of the world's leading providers of reinsurance, insurance, and other forms of insurance-based risk transfer.
- Investment Focus Areas: Reinsurance, insurance, risk management
- Notable Investments: Not publicly disclosed
What's Next for Verily?
Verily's future is brimming with opportunities, particularly in the realm of individualized healthcare. With a fresh $1 billion investment, the company is poised to enhance its data platforms, research, and technology. This capital will also fuel strategic partnerships and potential acquisitions, setting the stage for significant growth.
As the health-tech sector heats up, Verily's focus on strategic investments could lead to further fundraising opportunities. The competitive landscape, marked by tech giants like Amazon and Apple, underscores the need for Verily to stay agile and innovative. However, leadership changes and the pressure to transition to a more commercially focused entity present challenges that Verily must navigate carefully.
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