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Tempus Raises $200M in Series F Financing

CHICAGO (GenomeWeb) – Cancer informatics and precision medicine company Tempus said today that it has landed $200 million in a Series F investment round. This new round brings the four-year-old firm's total venture capital to $520 million and valuation to $3.1 billion.

Series F investors include Baillie Gifford, Franklin Templeton, NEA, Novo Holdings, Revolution Growth, and T. Rowe Price. With the investment, Novo Holdings Director Robert Ghenchev has joined the Tempus board of directors.

Tempus said that it would use the new investment to "further enhance operations" as well as to hasten plans to expand outside the US and into new therapeutic areas.

Tempus has built a library of molecular and clinical data alongside an operating system to make the data useful for clinicians and researchers alike. The company employs machine learning, next-generation sequencing, and artificial intelligence-assisted image recognition to enable scientific discovery and help physicians make real-time decisions to guide treatment of their patients.

Tempus also has a sequencing laboratory in its sprawling Chicago headquarters.

While Tempus has mostly been focused on precision oncology to date, CEO and Founder Eric Lefkofsky told GenomeWeb late last year that the company was starting to move into diabetes and depression. "I believe the same [issues] will exist in cardiovascular disease, neurological disorders, infectious disease, and endocrinology," he added.

"From our founding, Tempus has been singularly focused on improving the lives of patients diagnosed with disease, starting with cancer," Lefkofsky said in a new statement today. "Three and a half years later, we are empowering stakeholders across healthcare with insights derived from real-world clinical evidence connected to rich molecular data."