Verily Spins out of Alphabet's Other Bets Portfolio as Verily Health Inc.
Verily secures $300 million as Alphabet steps back to minority investor
Alphabet's life sciences unit Verily closed a $300 million funding round and shed its parent company's controlling stake, the company announced on March 19. The raise ends a decade-long arrangement in which Verily operated under Alphabet as part of its Other Bets portfolio.
Series X Capital, a fund created in collaboration with Google's X moonshot lab to bring its projects to commercial independence, led the round. Alphabet, UCHealth, and the University of Colorado Anschutz also participated.
With the transaction complete, Alphabet stepped back to a minority position. Verily also converted its legal structure from a limited liability company to a corporation and will operate going forward as Verily Health Inc.
"Today is an important step in our mission to bring the promise of precision health to everyone," Chairman and CEO Stephen Gillett said. Gideon Yu, Founder and Managing Partner of Series X Capital, said the fund was created to take moonshot technologies and build them into commercially viable, independent companies.
The capital will go toward Verily's precision health data platform, called Pre, which the company says consolidates fragmented health data and makes it usable within clinical and research environments.
Two commercial deals were announced alongside the raise: one with Samsung to support biomarker research through the Galaxy Watch, and another with Salesforce to connect the Pre platform with Agentforce Health, a product from business software company Salesforce. UCHealth and the University of Colorado Anschutz participated in the round and are already deploying Pre in their research operations.
The spinout follows years of restructuring. When Gillett took the CEO role in January 2023, Verily had more than 1,600 employees spread across hardware, software, insurance, and research programs.
Within weeks, the company announced it would cut roughly 240 positions, about 15% of its workforce, and move from multiple business lines into a single product organization, according to CNBC. Further reductions followed in subsequent years as the company wound down hardware and device development.
In January 2025, Verily agreed to sell Granular, its stop-loss insurance unit, to health insurer Elevance Health, shedding one of the last assets from its earlier, broader portfolio. By late 2024, the company had also completed a technical separation from Google's infrastructure.
In October 2025, Google VP of Security Engineering Heather Adkins told a federal court that Alphabet had spent two years working toward Verily's independence.
Ruth Porat, President and Chief Investment Officer of Alphabet and Google, said bringing in new investors alongside Alphabet's continued involvement gives Verily the room it needs to scale its health platform business. "Partnering with Verily to bring a shared data framework to healthcare data, making it AI-ready, creates a generational opportunity for UCHealth and for medicine," said Dr. Richard Zane, Chief Medical and Innovation Officer at UCHealth.