Verily said Friday that it has raised $1 billion and will use it to expand its data-driven healthcare products.
According to the company's announcement, the round was led by the company.
Changes to Verily's executive team will take place in January. Conrad will be the executive chairman of the board. Stephen Gillett will become the CEO. Gillett joined Verily as an operational advisor and later as the company's Cybersecurity leader. He was co-founding and CEO of Chronicle at the time.
The CFO position will be left vacant by the end of the month. At Zipline, Ahuja will be the first CFO and business officer. The company said that a search for a new CFO will start immediately.
As Verily prepares for a new phase of growth in a red hot healthcare sector that has attracted tech giants like Amazon and Apple, it has seen an influx of capital and executive shuffling. One Medical was acquired by Amazon in a deal valued at $3.9 billion.
Verily is interested in the term "precision health", which means combining research, clinical and non-clinical data and computing power to give healthcare tailored to a person's specific needs. Verily is a company that uses technology to provide medical care for individuals instead of everyone.
The funds may be used to invest in strategic partnerships. At least one acquisition has been completed by the company. The company has a clinical trial system. It has partnerships with a number of companies.
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