Tempus: $100 Million Funding And $5 Billion Valuation

By Annie Baker ● March 17, 2020
  • Chicago-based health tech company Tempus announced it raised $100 million in Series G funding at a post-money valuation of $5 billion

Tempus, a Chicago-based health tech company founded by serial entrepreneur Eric Lefkofsky, announced it raised $100 million in Series G funding at a post-money valuation of $5 billion. Baillie Gifford, Franklin Templeton, NEA, Novo Holdings, and funds and accounts managed by T. Rowe Price were the investors in this round.

What does Tempus do? Tempus is focused on advancing precision medicine through a proprietary platform that ingests multi-modal data across major disease types. Then that data is analyzed in order to find relevant insights. By connecting test results to phenotypic, morphologic, and molecular data — including real-time outcome and response data from electronic health records — Tempus is able to add clinical context to physician-ordered laboratory tests.

This round of funding comes less than 10 months after Tempus had raised a $200 million Series F round of funding at a $2.9 billion pre-money valuation.

“As a leader in bringing the power and promise of artificial intelligence to healthcare, we’re mindful of the size and scope of the opportunity in front us,” said Lefkofsky. “The latest fundraising will enhance our ability to forward invest in new disease areas and geographies.”

Currently, Tempus works with thousands of oncologists across hundreds of medical systems, including over two-thirds of all Academic Medical Centers and its technology touches roughly 30% of all cancer patients in the U.S.