Alphabet's Verily raises $1 bln in funding round

Los Angeles, CA, September 10, 2022 (Reuters) -- Alphabet Inc's (GOOGL.O) health technology arm Verily said on Friday it had raised $1 billion in a funding round led by its parent.

Verily said it would consider investments in strategic partnerships, business development and acquisitions with the new funding.

Spun out of Google in 2015, Verily develops devices and software aimed at improving data collection, treatment, research and patient care.

Verily also said its president, Stephen Gillett, will be promoted to chief executive officer, while founder Andy Conrad will become executive chairman.