Tempus, a leader in artificial intelligence and precision medicine, today announced an additional $200 million financing at a post-money valuation of $8.1 billion dollars, and an additional $250 million of convertible debt. The investors include Baillie Gifford, Franklin Templeton, Google, Novo Holdings, and funds and accounts managed by T. Rowe Price. With these investments, Tempus has now raised around $1.05 billion.
The company is using the additional funds to expand its operations and establish its work in other disease areas, including infectious diseases, depression, and cardiology. Tempus now employs approximately 1,500 people and runs millions of molecular tests annually. In addition, Tempus has been able to aggregate one of the largest repositories of healthcare data in the world, which it uses to help personalize care and ensure that every patient is on their own optimal, therapeutic path.
“Never before has the need to bring the power and promise of technology to healthcare been more acute than it is today,” said Eric Lefkofsky, Founder and CEO at Tempus. “As a leader in this space, we are very much aware of our responsibility and the power of this moment in time; one in which we now possess the technological capability to use artificial intelligence to eradicate disease and help people live longer and healthier lives.”
Tempus is focused on advancing precision medicine through its proprietary data platform that ingests multi-modal data across major disease types and analyzes that data looking for therapeutically relevant insights. Tempus organizes phenotypic, morphological, and molecular data in real-time, enabling the company to add clinical context to physician-ordered laboratory tests. Tempus’ “smart” laboratory tests are available clinically, touching the lives of millions of patients in the U.S.