Tempus, Chicago's most valuable startup, just added another $100 million to its coffers as it expands its business beyond cancer care.
Tempus announced that it raised $100 million in fresh funding, bringing its total amount raised to date to more than $600 million. The Series G funding round brings Tempus' post-money valuation to $5 billion.
Investors in the latest round include Baillie Gifford, Franklin Templeton, NEA, Novo Holdings and funds and accounts managed by T. Rowe Price.
Tempus, founded by Chicago serial entrepreneur Eric Lefkofsky in 2015, uses machine learning and genomic sequencing to better understand a patient’s tumor, and it tailors treatment plans best suited to combat it. The startup’s platform analyzes molecular and therapeutic data at scale, enabling physicians to make real-time, data-driven decisions to better treat their patients.
The new funding will allow Tempus to expand to areas of care beyond cancer, including diabetes, depression and cardiology.
Tempus says it currently works with oncologists across hundreds of medical systems, including more than two-thirds of all Academic Medical Centers. The startup says it touched approximately 30% of all cancer patients in the U.S.
“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,” Lefkofsky said in a statement. “The latest fundraising will enhance our ability to forward invest in new disease areas and geographies.”
Tempus last raised $200 million at a $3 billion valuation in 2019. The last Chicago startup to hit a $5 billion valuation was Outcome Health, though the company is now worth significantly less after fraud allegations and its founders facing federal charges.
