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Tempus Announces $110 Million in Series E Financing
CHICAGO, Aug. 29, 2018 (GLOBE NEWSWIRE) -- Tempus, a leading technology company advancing precision medicine through the collection and analysis of molecular and clinical data, announced today it has secured an additional $110 million in financing at a valuation of $2 billion dollars. The round includes Baillie Gifford, funds and accounts managed by T. Rowe Price, Revolution Growth, New Enterprise Associates (NEA) and other existing investors. The additional funds will be used to grow operations and expand into new therapeutic areas and geographies. With this close, the company has raised $320 million to date.
In just three years, Tempus has built the most comprehensive data set in the industry, powered by our clinical partners and collaborators across the country. Using advanced machine learning, next-generation sequencing, and AI-assisted image recognition, the Tempus platform accelerates insights, new discovery and helps thousands of physicians make real-time, data drive decisions on behalf of their patients.
“Our mission is to help usher in precision medicine, in the United States and abroad,” said Eric Lefkofsky, founder and CEO of Tempus. “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.”
Tempus is in partnership with the American Society of Clinical Oncologists (ASCO), leading academic medical centers and NCI designated cancer centers, hospital networks and community physicians across the United States. Given recent growth, the Tempus platform now touches nearly 1 in 4 cancer patients in the United States.
Tempus is a technology company that is building the world’s largest library of molecular and clinical data and an operating system to make that data accessible and useful. We enable physicians to deliver personalized care for patients through our interactive analytical and machine learning platform. We provide genomic sequencing services and analyze molecular and therapeutic data to empower physicians and researchers to make real-time, data-driven decisions. Our goal is for each patient to benefit from the treatment of others who came before by providing the health care industry with tools that learn as we gather more data. For more information, visit tempus.com.