Verily Lands $1B Round
January 4, 2019
Verily, an Alphabet company, has landed a $1 billion investment round, led by Silver Lake, as it advances plans on business strategies that are additive and complementary to its current life sciences portfolio. Other new investors in the round include Ontario Teachers’ Pension Plan and other global investment management firms.
The capital raised will support growth in
key strategic areas, including investments
in strategic partnerships, global business
development opportunities, and potential
acquisitions. Financial terms of the
transaction were not disclosed. Ruth Porat,
chief financial officer at Alphabet, and
Egon Durban, managing partner and managing
director of Silver Lake, will be nominated
to join Verily’s operating board.