[NEWS] Groupon cofounder Eric Lefkofsky just raised another $200 million for his newest company, Tempus – Loganspace

[NEWS] Groupon cofounder Eric Lefkofsky just raised another $200 million for his newest company, Tempus – Loganspace

When serial entrepreneurEric Lefkofskygrows a company, he locations the pedal to the steel. When in 2011 his final company, the Chicago-essentially essentially based mostly coupons space Groupon, raised $950 million from investors, it changed into the most animated amount raised by a startup, ever. It changed into appropriate over three years archaic at the time, and itwent publiclater that same 365 days.

Lefkofsky seems to be to be stealing a page from the same playbook for his most modern company,Tempus. The Chicago-essentially essentially based mostly genomic attempting out and recordsdata diagnosis company changed into essentially based a runt extra than three years within the past, yet it has already hired with regards to 700 workers and raised extra than $500 million — alongside with by a brand contemporary $200 million spherical that values the company at $3.1 billion.

In accordance to the Chicago Tribune, that contemporary valuation makes it — asGrouponas soon as changed into — one amongstChicago’s most extremely valuedprivately held companies.

So why the total fuss? As the Tribune explains it,Tempushas constructed a platform to accumulate, construction and analyze the scientific recordsdata that’s in overall unorganized in electronic scientific file systems. The company moreover generates genomic recordsdata by sequencing affected person DNA and heaps of recordsdata in its lab.

The aim is to succor scientific doctors invent customized therapies for every particular individual affected person, Lefkofsky tells the paper.

To this level, it has partnered with heaps of cancer treatment facilities that are it sounds as if giving Tempus human recordsdata from which to be taught. Tempus is moreover generating recordsdata “in vitro,” as is one more company wefeatured goal no longer too lengthy within the pastcalled Insitro, a drug trend startup essentially based by current AI researcher Daphne Koller. WithInsitro, it’s engaged on a liver illness treatment owing to a tie-up with Gilead, which has accrued linked human recordsdata over the years from which Insitro can utilize to be taught. As a complementary recordsdata source, Insitro, admire Tempus, is attempting to be taught what the illness does in a “dish,” then pick if it can truly utilize what it observes the utilize of machine learning to predict what it sees in folks.

Tempus hasn’t attain up with any cancer-linked cures yet, nonetheless Lefkofsky already says that Tempus needs to amplify into diabetes and depression, too.

In the period in-between, hetells Crain’s Chicago Commercialthat Tempus is already generating “most principal” revenue. “Our oldest companions, recognize, in most circumstances, now expanded to heaps of subgroups (of cancer). What we’re doing is working.”

Investors within the most contemporary spherical consist ofBaillie Gifford;Revolution Increase; New Enterprise Pals; funds and accounts managed by T. Rowe Designate; Novo Holdings; and the funding administration company Franklin Templeton.

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