What You Should Know:
– Verily, a subsidiary of Alphabet focused on life sciences and healthcare announced it has raised $700M from current investors, including Alphabet, Silver Lake, Temasek, Ontario Teachers’ Pension Plan and others.
– The company plans to use the capital to support rapid expansion of some of Verily’s leading commercial businesses including Baseline, an end-to-end ecosystem designed to make clinical research more efficient; and Verily Health Platforms, which supports population health, clinical care delivery and chronic disease management through programs like Healthy at Work, Onduo and Coefficient.
– In addition, the company plans to expand several of its life sciences programs across surgery, pathology and immunology.
– Verily has seen accelerated growth and commercial interest in 2020, spurred by its significant contributions to public health efforts to combat the COVID-19 pandemic.
– “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,” said Andrew Conrad, CEO and founder at Verily. “2021 will be a year of significant and focused growth for Verily’s operations as we continue to drive innovation in our core programs, launching more studies and study tools on Baseline to support decentralized research, and expanding our Health Platforms product offerings and services for employers, providers and patients.”