Dallas-Based Verily Raises $300M, Ending Alphabet’s Controlling Stake » Dallas Innovates

The lobby of Verily’s headquarters at Cypress Waters in Dallas. [Photo: Verily]

Dallas-based Verily has raised a new $300 million investment round led by Series X Capital, with participation from Alphabet, UCHealth, the University of Colorado Anschutz, and other investors, for the next phase of its precision health AI strategy. With this funding round, Alphabet will now be a significant minority investor in Verily, while no longer having a controlling stake.

“Today is an important step in our mission to bring the promise of precision health to everyone,” said Stephen Gillett, chairman and CEO of Verily, . “From research to care, our customers need solutions that bring the best of clinical and scientific rigor together with AI to deliver the next generation of healthcare—one that is as precise as it is personal.”

“Series X Capital, Alphabet, UCHealth, the University of Colorado Anschutz and our many investors will be fantastic partners in this transformation of healthcare,” Gillett added in a statement.

Verily Chairman and CEO Stephen Gillett [Photo: Verily]

With the investment, Verily has transitioned its legal structure from an LLC to a corporation, and will now operate as Verily Health Inc. The company said it aims to boost its AI-native precision health platform strategy and roadmap to help customers streamline their healthcare data, while modeling and deploying actionable intelligence into research and care workflows.

Verily is headquartered in the Cypress Waters development in Dallas, just southeast of Coppell. The company relocated its HQ from South San Francisco in 2024, bridging its East and West Coast operations in North Texas while maintaining its presence in the Bay Area.

Using AI to transform healthcare

Recently, Verily has established several commercial partnerships, including a new collaboration with Samsung’s Galaxy Watch to help life sciences customers advance clinical research through biomarker development on the Pre platform. The company has also announced a strategic partnership with Salesforce for the integration of the Verily Pre Platform with Agentforce Health to fuel enterprise precision health solutions.

Verily said the new partnerships are strengthened by its recent collaboration with UCHealth, the University of Colorado Anschutz, and RefinedScience, who are using the Verily Pre platform for AI-driven research and care transformation.

Gideon Yu, founder and managing partner of Series X Capital, said his firm “was established in collaboration with Google’s X, The Moonshot Factory, to scale moonshot technologies into consequential, world-changing companies.” He added that his firm is “extremely excited to lead this milestone round for Verily, as they drive commercial momentum as a leader in precision health.”

‘A generational opportunity’

Graduating from Google X 10 years ago as one of Alphabet’s earliest “Other Bets,” Verily focuses on breakthrough science and health tech innovation.

“At Alphabet, we applaud Verily’s tenacity in using technology to address longstanding challenges in the healthcare industry,” said Ruth Porat, president and. chief investment officer at Alphabet and Google. “Bringing in new investors, alongside Alphabet’s ongoing involvement, enables Verily to further scale the business to help improve patient outcomes and lower the cost of healthcare delivery through their AI health platform.”

Richard Zane, MD, UCHealth chief medical and innovation Officer, said that collaborating with Verily to craft a data framework “creates a generational opportunity” to improve medicine.

“This collaboration helps unlock the long‑promised potential of personalized care,” Zane added, “benefiting our patients and, ultimately, all patients. It will save lives, and we’re eager to get started.”

Other recent moves by Verily

Last October, Verily launched a new consumer health app, Verily Me, designed to close gaps in care and enable people to stay informed and engaged in their health journey over time. Last April, Verily received a $14.7 million grant from The Michael J. Fox Foundation for Parkinson’s Research. The grant’s goal is to generate a comprehensive molecular dataset to advance Parkinson’s disease research.

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