Verily, the life sciences arm of the tech giant Alphabet, has raised a fresh $700 million round from a group of investors including Alphabet itself, Silver Lake, Temasek, and the Ontario Teachers’ Pension Plan.

Verily says it’ll use the new capital to support the expansion of some of its commercial businesses, including the clinical research platform Baseline and its health management platform, Verily Health Platforms. 

Verily will also use the new capital to support the progress of several of its life sciences programs across surgery, pathology, and immunology.

Notably, Verily has boosted its prowess amid the Covid-19 pandemic, wherein it’s supported Covid-19 testing and research efforts with multiple partners with its Baseline clinical research platform. Verily has supported the testing of nearly two million people across 351 locations.

Verily was founded in 2015 as a life sciences division under Google X, before it later rolled over into Alphabet. Still led by its founding CEO Andrew Conrad, Verily raised a $1 billion round of funding from the same investors who provided this new round in January last year.

With $700 million fresh funding, Verily cements its status as a heavily-funded life sciences company with backing and talent from one of the world’s biggest tech giants, Alphabet. 

Verily is notably similar to Calico, another biotech and healthcare division of Alphabet that’s backed by $2.5 billion in funding both from Alphabet and the pharmaceuticals company AbbVie. 

Photo: Verily’s Chief Medical Officer, Jessica Mega. Credit: Fortunebrainstormhealth, licensed under CC BY-NC-ND 2.0

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