Recently, leading molecular diagnostic data analysis startup Tempus announced the completion of E round of financing, with a total financing of 110 million dollars. This is Tempus' third financing in 11 months. After this round of financing, the company's valuation reached about 2 billion dollars.
Founded in 2015, Tempus is a technology company founded by billionaire Eric Lefkofsky and Groupon. Lefkofsky's wife is a cancer patient, and during his wife's treatment, he realized that there was a lack of data support in the treatment plan at the time.
Now, his company is collecting molecular diagnostic data and clinical data from hospitals across the country and analyzing the two in a database to improve the treatment level of cancer patients.
The company is building the world's largest molecular diagnostic and clinical database, as well as the analyzing operating system so that they can be accessed and used by clinicians. They help doctors provide personalized care to patients through interactive analysis and machine learning platforms. Through gene sequencing service platforms and data analysis, doctors and researchers can make data-driven decision-making solutions in real time.
At the beginning of its establishment, Tempus received a start-up capital of $320 million. So far, Tempus has continued systematic cooperation with 250 hospitals and collected 2 million clinical cases.
In just three years, Tempus has built the industry's most comprehensive database and has a number of clinical partners as supporters of the business. Tempus' platform uses advanced machine learning technology, second-generation sequencing technology and artificial intelligence-assisted image recognition technology. With the support of these technologies, doctors can have more powerful insights and deeper understanding of diseases.
Finally, with the help of Tempus, doctors can help patients make data-driven decisions in real time.
They also have partnerships with the American Society of Clinical Oncologists (ASCO), NCI designated cancer centers, and other leading academic medical centers, online hospitals, and community physicians across the country. It is understood that Tempus' platform has reached one quarter of cancer patients in United States.
It is said that after this round of financing, the company will focus on expanding its business expansion in the fields of oncology, cardiovascular disease, and diabetes, and will operate in Australia and Asia outside Europe and United States. Investors in this round include Baillie Gifford, T. Rowe Price, Revolution Growth, and New Enterprise Associates (NEA).
“Our mission is to help United States and other countries accelerate the pace of precision medicine,”Lefkofsky, founder and CEO, said. “We are very pleased with the progress we have made and we are proud to be recognized by world-class investors and partners. With their support from the Tempus team, we will go further."
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