Verily has raised $300 million in a new investment round and is restructuring its ownership as it looks to advance its precision health strategy.
The Dallas-based company said the funding round was led by Series X Capital, with participation from Alphabet, Aurora, Colo.-based UCHealth, University of Colorado Anschutz and other investors. As part of the deal, Alphabet will remain a significant minority investor but will no longer hold a controlling stake, according to a March 19 news release.
The investment comes as Verily transitions its legal structure from a limited liability company to a corporation and now operates as Verily Health. The company said it plans to use the funding to accelerate development of its AI-driven precision health platform aimed at helping healthcare organizations better integrate data and apply insights across research and care delivery.
Verily is also working with Aurora, Colo.-based UCHealth, University of Colorado Anschutz and RefinedScience on AI-powered research and care initiatives, the release said.
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