Tempus Raises $110 Million In Series E Funding

By Annie Baker ● August 30, 2018

Chicago-based Tempus is a technology company that collects and analyzes molecular and clinical data to further precision medicine. Tempus has raised $110 million in funding at a valuation of more than $2 billion. This round of funding was provided by Baillie Gifford along with funds and accounts T. Rowe Price, Revolution Growth, New Enterprise Associates (NEA), and several existing investors. With this round of funding, Tempus plans to grow its operations and expand into new therapeutic areas and geographies. Tempus has raised a total of $320 million in funding thus far.

Tempus was founded by Eric Lefkofsky and Brad Keywell in 2015. Lefkofsky and Keywell have founded a number of successful companies together including Starbelly (acquired for $240 million by HA-LO), Echo Global Logistics (IPO), Mediabank (merged with Donovan Data Systems to create Mediaocean), Groupon (IPO), Lightbank (investment firm with a number of exits), and Uptake (more than a $2.3 billion valuation).

“Our mission is to help usher in precision medicine, in the United States and abroad,” said Lefkofsky. “We couldn’t be more thrilled with our progress to date, and we’re honored to be surrounded by world class investors, collaborators, partners and an incredibly talented team here at Tempus.”

Within three years, Tempus built the most comprehensive data set in the industry due to partnerships with a number of clinics and medical research facilities across the country. Tempus utilizes advanced machine learning, next-gen sequencing, and artificial intelligence assisted image recognition to accelerate insights and helps thousands of physicians make data-driven decisions on behalf of their patients.

Tempus has partnerships with the American Society of Clinical Oncologists (ASCO) along with NCI designated cancer centers, a number of leading academic medical centers, and community physicians. And Tempus’ platform now touches nearly 1 in 4 cancer patients in the US.