Tempus, a technology company advancing precision medicine through the practical application of artificial intelligence in healthcare, today announced an additional $100 million financing at a post-money valuation of $5 billion dollars. The investors include Baillie Gifford, Franklin Templeton, NEA, Novo Holdings, and funds and accounts managed by T. Rowe Price.
The company is using the additional funds to further enhance its operations and continue its expansion into other disease areas, including diabetes, depression, and cardiology. With this latest round, the company has raised over $600 million since its founding in September 2015.
“As a leader in bringing the power and promise of artificial intelligence to healthcare, we’re mindful of the size and scope of the opportunity in front us,” said Eric Lefkofsky, Founder and CEO at Tempus. “The latest fundraising will enhance our ability to forward invest in new disease areas and geographies.”
Tempus is focused on advancing precision medicine through its proprietary platform that ingests multi-modal data across major disease types and analyzes that data looking for therapeutically relevant insights. In connecting test results to phenotypic, morphologic, and molecular data, including real-time outcome and response data from electronic health records, Tempus is able to add clinical context to physician-ordered laboratory tests.
At present, Tempus works with thousands of oncologists across hundreds of medical systems, including over two-thirds of all Academic Medical Centers, touching roughly 30% of all cancer patients in the U.S.
Tempus is a technology company advancing precision medicine through the practical application of artificial intelligence in healthcare. With the world’s largest libraries of clinical and molecular data, and an operating system to make that data accessible and useful, Tempus enables physicians to make real-time, data-driven decisions to deliver personalized patient care. In parallel, Tempus facilitates discovery, development and delivery of optimized therapeutic options for patients through distinctive solution sets. The goal is for each patient to benefit from the treatment of others who came before by providing physicians with tools that learn as the company gathers more data. For more information, visit tempus.com.