Tempus, a healthtech company started by Groupon co-founder Eric Lefkofsky, has raised a $100 million Series G round at a post-money valuation of $5 billion. The money comes less than 10 months after Tempus raised a $200 million Series F round at a pre-money valuation of $2.9 billion.
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Baillie Gifford, Franklin Templeton, New Enterprise Associates, Novo Holding and T. Rowe Price participated in the financing. With the latest round, Tempus has now raised $620 million since its September 2015 inception, according to Crunchbase data. Previous backers include Revolution and Denmark’s Novo Holdings.
Tempus says it has built an operating system to deliver personalized cancer care. It’s using its new capital to expand into other disease areas, including diabetes, depression and cardiology.
The startup is on a mission to redefine how genomic data is used in a clinical setting. It’s built out an interactive analytical and machine-learning platform so patients can benefit “from the treatment of others who came before.”
Tempus’ genomics tests analyze DNA, RNA and proteomic data to understand a patient’s tumor at the molecular level with the goal of identifying customized treatment options.
Currently, Tempus works with thousands of oncologists across hundreds of medical systems. It claims to have the “world’s largest libraries of clinical and molecular data, and an operating system to make that data accessible and useful.”
As anyone who’s had a family member battle cancer can attest to, the thought of more personalized (and better!) care is more than welcome.
Illustration: Li-Anne Dias