Alphabet’s Verily raises $1 bn in VC funding round

Alphabet Inc’s health technology arm Verily has raised $1 billion in a VC funding round led by its parent.
VC funding for techVerily would consider investments in strategic partnerships, business development and acquisitions with the new funding.

Spun out of Google in 2015, Verily develops devices and software aimed at improving data collection, treatment, research and patient care.

Verily also said its president, Stephen Gillett, will be promoted to chief executive officer, while founder Andy Conrad will become executive chairman.

Verily Chief Financial Officer Deepak Ahuja has decided to leave the company.

Earlier in January, Verily announced a new tie-up in its search for sustainable revenue, saying it would study skin health and explore new products with cosmetics maker L’Oreal.

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