Tempus Labs, Inc. announced a $200 million financing that closed on December 10, 2020. The transaction resulted in a post-money valuation of $8.1 billion. The financing included participation from returning investors Franklin Resources, Novo Holdings, T. Rowe Price Associates, and Baillie Gifford, as well as new investor Alphabet Inc. Founder and Chief Executive Officer Eric Lefkofsky is listed among the participants. The announcement also notes the involvement of another unnamed investor alongside the named participants. Tempus operates a proprietary platform that ingests multi-modal clinical, phenotypic, morphologic and molecular data and applies AI to generate therapeutically relevant insights. The platform connects physician-ordered test results to real-time outcome and response data from electronic health records to add clinical context to laboratory tests. The company currently works with thousands of oncologists across hundreds of medical systems, including over two-thirds of Academic Medical Centers, and touches roughly 30% of all cancer patients in the U.S. Tempus is led by founder and CEO Eric Lefkofsky and is headquartered in Chicago. It plans to use new funding to enhance operations and expand its platform into additional disease areas, including diabetes, depression and cardiology. Financially, Tempus has raised over $600M since its founding in September 2015 and recently closed an additional financing. Tempus is a Chicago-based company that builds a platform to collect, structure and analyze clinical data from electronic medical records and generates genomic data by sequencing patient DNA and other samples in its lab. Founded a little more than three years ago, the company has hired nearly 700 employees and has partnered with numerous cancer treatment centers that provide human data for its learning platform. Its genomic testing is currently centered on cancers and is used to help doctors create customized treatments for individual patients. Tempus has raised more than $500 million to date and recently closed a new $200 million round that values the company at $3.1 billion. Eric Lefkofsky says the company is already generating “significant” revenue, and its oldest partners have expanded to different cancer subgroups. Lefkofsky has indicated plans to expand Tempus’s work beyond oncology into areas such as diabetes and depression. Tempus is building a large library of molecular and clinical data and an operating system to make that data accessible and useful. It enables physicians to deliver personalized care through an interactive analytical and machine learning platform, provides genomic sequencing services, and analyzes molecular and therapeutic data to support real-time, data-driven decisions. In three years the company has assembled what it describes as the most comprehensive dataset in the industry, powered by clinical partners including ASCO, academic medical centers, NCI-designated cancer centers, hospital networks and community physicians across the United States. It recently secured an additional $110M, bringing total funding to $320M and valuing the company at $2 billion. Tempus intends to use the new funds to grow operations and expand into new therapeutic areas and geographies. The company is led by founder and CEO Eric Lefkofsky and is based in Chicago, IL. Tempus is a Chicago-based company that uses machine learning and genomic sequencing to analyze tumors and tailor cancer treatment plans. It is building a molecular clinical library and an operating system to make patient genomic and clinical data usable for physicians, enabling clinicians to learn from previous patients and identify more effective therapies. The company works with major cancer centers including the Mayo Clinic, Northwestern University, the University of Chicago and the University of Michigan and says it partners with nearly half of U.S. Academic Medical Centers. Tempus says its current contracts will allow it to touch 25–30% of cancer patients this year. Founded by Eric Lefkofsky and Brad Keywell two years ago, the company has about 400 employees and is hiring roughly 30 people per month. Financially, Tempus has raised $210M to date, including an $80M round reported today that Crain's values at about $1.1B. The startup is also eyeing applications beyond cancer.

Total raised

$760M

Funding rounds

6

Latest round

Equity

Latest activity

Dec 2020