Lefkofsky’s Tempus raises $70 million
Chicago-based Tempus, Eric Lefkofsky’s cancer-data company, has gotten a $70 million boost from New Enterprise Associates and Revolution Growth, two Washington, D.C., venture capital funds. Total investments in Tempus have grown to $130 million. The latest round values the company at about $700 million.
Tempus was launched two years ago by Lefkofsky, who co-founded and was CEO of Groupon, after his wife was treated for breast cancer. In the past year, Tempus has signed up research centers and hospitals like Northwestern University’s Lurie Cancer Center and Cleveland Clinic as partners.
Hospitals send patients to Tempus for genetic sequencing and analysis, and provide non-identifiable data to Tempus. The company’s software platform uses the data to inform doctors on treatment options, showing how other patients with similar genetic profiles have responded to particular therapies.
One of the big challenges was gathering enough partners to build a critical mass of data. Lefkofsky said the additional funds will help Tempus build out that database. —John Pletz, Crain’s Chicago Business