Visionary healthcare startup Tempus recently made the major announcement that its series C funding round closed with a successful $70 million in additional investments. This brings the total funding to $130 million and an estimated valuation of over $700 million (this total has not been confirmed). This valuation is absolutely staggering based on the fact that tempus was founded just two short years ago.
The key investors in the Series C funding round include Revolution Growth and New Investors (NEA). Eric Lefkofsky and his founding partner also invested in this round of funding, as they have invested in every funding round. Lefkofsky announced that he would invest up to $100 million out of his own pocket because he believes so much in the work that Tempus is doing. An interesting piece of information is that cornerstone investor Revolution Growth is a major investment firm founded by billionaire Steve Case. Revolution Growth typically selects just two to three major startups based outside of Silicon Valley.
Tempuses goal is to help doctors customize their cancer treatment plans by using human genomic sequencing and a wealth of collected physician data. This data will then be put into an operations system that physicians can easily access when creating their cancer care plans for patients. Tempus has already begun working with the Mayo Clinic, the Cleveland Clinic and Duke University.
Eric Lefkofsky chose to pivot to working in healthcare after an extremely successful career in the tech industry. He has founded several successful companies such as Lightbank, which is a venture fund that seeks out and invests in disruptive tech startups. He also founded Uptake Technologies, which serves the world’s largest industries with its innovative predictive analytics software.
His is a well known name in tech circles, both in Chicago where Tempus is headquartered and globally. He is very vested in the Chicago community and serves as a Trustee for some of Chicago’s most well known institutions including the Art Institute of Chicago, the Museum of Science, Lurie Children’s Hospital and World Business Chicago, among others. He is also an adjunct professor teaching at The University of Chicago and a published author of a fascinating book called Accelerated Disruption.