Friday, January 4, 2019

Verily Gets Massive, $1 Billion Investment Round

South San Francisco-based Verily, the Alphabet spinoff working on life sciences technology, said Thursday afternoon that it has raised $1 billion in an investment round. The round was led by Silver Lake, and also included Ontario Teachers’ Pension Plan and others. The company said that Ruth Porat, chief financial officer at Alphabet, and Egon Durban, managing partner and managing director of Silver Lake, will both join Verily's board with the funding. The company said it will use the new funding for strategic partnerships, global business development opportunities, and potential acquisitions.