Verily Health Inc. announced a $300 million funding round led by Series X Capital, with participation from Alphabet, UCHealth, the University of Colorado Anschutz and other investors. The investment marks Verily's transition from an Alphabet subsidiary to an independent company, with Alphabet becoming a significant minority investor rather than maintaining controlling ownership.

The company changed its legal structure from a limited liability company to a corporation and adopted the official name Verily Health Inc. The funding will support Verily's precision health AI platform strategy, which aims to help customers integrate healthcare data and deploy artificial intelligence into research and care workflows.

"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, according to the company's statement.

Verily has established commercial partnerships including a collaboration with Samsung's Galaxy Watch for clinical research biomarker development and a strategic partnership with Salesforce to integrate Verily's Pre Platform with Agentforce Health. The company also maintains partnerships with UCHealth, the University of Colorado Anschutz, and RefinedScience for AI-powered research applications.

Verily originated as a project within Google X ten years ago before becoming one of Alphabet's "Other Bets" divisions. Series X Capital, which led the funding round, was established in collaboration with Google's X to scale emerging technologies into commercial companies.

"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.