Funding round
Verily Growth
Reported as "Growth Equity"
Verily, which works in precision health AI platform development in Dallas, raised $1.00B in a Growth round announced on 3 Jan 2019, led by Silver Lake. 3 firms took part, 1 of them already investors. It is Verily's first venture round on record.
$1.00B
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Verily did not disclose a valuation in this round. It is Verily's first venture round on record, 4 years after it was founded in 2015. It is 33% of the $3.00B Verily has raised in the venture rounds on record. Verily raised again 23 months later: a Growth round of $700M in Dec 2020.
Investors
Who put money in
Silver Lake led the round with 2 other firms. Alphabet had backed Verily before.
Lead investor
- Silver Lake backs 44 venture-backed companies new investor
Also in the round
- Ontario Teachers’ Pension Plan backs 35 venture-backed companies new investor
- Alphabet existing investor
Joined the board: Ruth Porat (Alphabet) and Egon Durban (Silver Lake).
Use of proceeds
What the money is for
According to the announcement, the money goes to acquisitions.
- Acquisitions
Comparable rounds
How it compares
218 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $43M, and this round was 23 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 16 Jan 2019 | $1.50B | not disclosed | not named |
| Tech Companies | 8 Jan 2019 | $200M | not disclosed | K1 Investment Management |
| Vena Tech Companies | 9 Jan 2019 | $115M | not disclosed | JMI Equity |
| Tech Companies | 25 Jan 2019 | $105M | not disclosed | Accel-KKR |
| Keyfactor Tech Companies | 22 Jan 2019 | $77M | not disclosed | Insight Partners |
| Tech Companies | 9 Jan 2019 | $60M | not disclosed | Insight Partners |
| Cato Networks Tech Companies | 29 Jan 2019 | $55M | not disclosed | Lightspeed Venture Partners |
| Tech Companies | 9 Jan 2019 | $40M | not disclosed | JMI Equity |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Verily raise in its Growth round?
Verily raised $1.00B in its Growth round, announced in Jan 2019.
Who led Verily's Growth round?
Silver Lake led it, with Ontario Teachers’ Pension Plan and Alphabet.
What was Verily's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
218 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $43M, and this round was 23 times the median.
Did Verily raise again after this round?
Yes: a Growth round in Dec 2020 of $700M.