Precision medicine startup Tempus raises $200M to reach $3.1B valuation

Tempus, a Chicago-based startup using artificial intelligence to develop precision medicine therapies, announced this week the close of a $200 million Series F funding round.

Investors in the round include Baillie Gifford, Franklin Templeton, NEA, Novo Holdings, Revolution Growth and T. Rowe Price. Tempus now has a valuation of $3.1 billion; the company has raised a total of $520 million since it was founded in 2015 by Groupon founder Eric Lefkofsky.

Tempus uses machine learning, next-generation DNA sequencing and AI-powered image recognition technologies to analyze a massive database of clinical and genomic information from academic medical centers and community hospitals. That analysis serves clients across the healthcare spectrum by providing insights into potential new treatments that can be developed by researchers and biotech companies or immediately implemented by physicians.

The company will use the latest influx of funding to enhance its operations and expand into new areas of precision medicine. Tempus initially focused its efforts on identifying potential cancer treatments, but recently broadened its scope to study diabetes and depression.

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