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Verily, a life science subsidiary of Alphabet, raised $1 billion in a recent funding round to support the business’s expansion.

The research group was founded in 2015 to improve precision health. Its primary objective is to use data from a wide range of clinical, social, and behavioural sources to determine healthy and suitable solutions for individuals.

Verily aims to use accurate data to improve health services and change how healthcare professionals offer their expertise. Among Verily’s highest-profile products is a service meant to ease participation in clinical tests for individual baselines, which was widely used during the COVID-19 pandemic.

Verily’s plan moving forward

Verily plans to use the funds to support new initiatives, such as generating proof through real-world healthcare data platforms, care, and research. They also plan on partnerships with global brands. Verily raised approximately $3.5 billion in 2020 while amassing another $700 million and $1 billion in 2019.

Verily also announced Andy Conrad as the new Chairman Executive of the company’s board. Moreover, Stephen Gillett, President of Verily, will serve as the company’s Chief Executive Officer. The changes take effect in January 2023.

In 2015, Gillett became a part of Google and served as a Google Venture executive. In 2016, he moved to Google X and assumed the position of CEO at Chronicle. He joined Verily in 2020 as Chief Operating Officer.

“These new roles are the result of thoughtful succession planning led by Conrad and the board and in recognition of the skills and experience required to lead Verily as it becomes a more operationally and commercially focused company executing on its precision health strategy”, Verily said in a recent statement.

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