Tempus, a medical startup based out of Chicago, recently announced that they have raised $70 million in funding through a series C funding roound. The funding came from two core investors: New Enterprise Associates (NEA) and Investors Revolution Growth. This is Tempus’s third round of funding and since it launched in 2015 Tempus has received over $130 million in funding.
Tempus is believed to be valued at $700 million, with that number continuing to grow as Tempus launches more partnerships. In 2016, Tempus announced partnerships with Duke University, The Mayo Clinic and the Cleveland Clinic, to name a few.
Tempus focuses on creating one cohesive operating system containing information about cancer research and treatment. Tempus uses genetic sequencing as well. While there is a lot of data out there about cancer research and individual patient treatment, it is scattered through hospitals, clinics and research facilities throughout the world. It is often housed in small and unorganized databases. More and more of these databases are becoming digitized, but many also utilize different systems that don’t speak to each other. Tempus’s goal is to create a central technology that not only syncs the informations doctors and teams provide.
Oncologists can then easily tap into this research and information and develop customized treatments for their patients based on past results. Technology allows all of this to be possible for the first time ever. Molecular and clinical research data can be easily accessed. Tempus will provide a huge amount of benefit for patients around the world.
Tempus is the brain child of Eric Lefkofsky, a tech entrepreneur. It is head quartered in Chicago and has seen rapid growth since its founding in 2015. It is quite the unicorn of the medical technology industry, an industry that Lefkofsky has long since been a leader in. Lefkofsky is also the founder of Groupon and cofounder of Uptake Technologies.
Lefkofsky is very hands on at Tempus and leads the charge to create partnerships that will grow Tempus into a worldwide leader in healthcare as the world’s first operating system housing molecular data and cancer treatment information. When healthcare and medical experts come together with technology leaders like Lefkofsky, real change happens.