Alphabet's life science company just raised another $1 billion for a mysterious bet on healthcare

Business Insider | 1/3/2019 | Erin Brodwin
shellshockkedshellshockked (Posted by) Level 3
Click For Photo: https://amp.businessinsider.com/images/5c2e87da2ab31e37a3778492-750-375.jpg

Enigmatic life science company Verily has raised a mega funding round of $1 billion led by technology investment firm Silver Lake.

Formerly called Google Life Sciences, Verily aims to develop tools that help collect and organize health data. Current projects include a continuous glucose monitor for diabetes and better contact lenses.

Part - Investment - Alphabet - CFO - Ruth

As part of the investment, Alphabet CFO Ruth Porat will join Verily's board.

Verily, the enigmatic life science company formerly called Google Life Sciences, has raised $1 billion from investors, the second time the company has taken outside funds.

Company - Round - Thursday - Details - Funds

The company announced the mammoth round on Thursday but did not include details of what the funds would be used for. Technology investment firm Silver Lake is the leading new investor, and Ontario Teachers' Pension Plan also joins on as a first-time backer.

"We are taking external funding to increase flexibility and optionality as we expand on our core strategic focus areas," Andrew Conrad, Verily's CEO, said in a statement.

Sub-group - Google - Parent - Company - Alphabet

A sub-group of Google's parent company, Alphabet, Verily aims to develop tools that help collect and organize health data. Its current list of semi-public projects include work on a miniaturized continuous glucose monitor with partner organization Dexcom; contact lenses for people with age-related farsightedness and for sight improvement after cataract...
(Excerpt) Read more at: Business Insider
Wake Up To Breaking News!
Individuals can exist without government but government can't exist without individuals.
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!