Tempus raised $110 million in Series E financing by the end of August this year. This means that the Chicago-based data analytics company is now valued at $2 billion, vaulting it into the ranks of start-up “unicorns.”
Founded by Eric Lefkofsky of Groupon fame, Tempus is engaged in data analytics of molecular and clinical data. The company said it will use the new round of financing to widen its areas of health research and to open offices abroad.
Mark Terry of BioSpace reports:
“Tempus is working in an area where two other big companies are focused—Flatiron Health, which was acquired by Roche earlier this year, and Foundation Medicine a few months later. It has several areas, including a laboratory that sequences tumor genetics in addition to inherited genes to determine which mutations affect an individual’s cancer. It also collects and analyzes clinical data from doctors, hospitals and clinical trials in an attempt to analyze patterns and standardize the information. Its products and services fall into four broad categories: genomic sequencing, clinical data structuring, image recognition, and biological modeling.
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“Forbes points out that Tempus’ valuation had doubled in the last six months. Per Pitchbook, it was valued at a bit more than $1 billion after its Series D financing in March. The Flatiron deal was for $1.9 billion. Roche picked up Foundation Medicine in June for $2.4 billion.”
