Groupon Cofounder’s New Healthcare Startup Raises $70 Million In Latest Funding Round

Published on Forbes.com

September 25, 2017

Michela Tindera

Billionaire Eric Lefkofsky built his fortune saving customers money on travel and restaurants with Groupon GRPN -0.59%. Now with his latest startup, Tempus, he’s trying to save their lives.

Focused on using genomic sequencing to help doctors customize cancer treatments, Lefkofsky’s Chicago-based Tempus announced Monday that it has raised $70 million in its series C funding round from investors Revolution Growth and New Enterprise Associates.

This funding is part of a total $130 million raised since Lefkofsky started Tempus in 2015 with longtime business partner and fellow Groupon cofounder Brad Keywell. The latest fundraising puts the valuation of Tempus at approximately $700 million, according to an unnamed source close to the deal. A spokesperson for Lefkofsky would not comment on Tempus’ valuation.

Lefkofsky, who is CEO, and Keywell have personally invested in every fundraising round for Tempus and remain its largest individual investors. Last year, Lefkofsky told Crain’s Chicago Business that he was willing to invest up to $100 million in the business.

New investors NEA and Revolution Growth have funded companies like stock trading app Robinhood (NEA), salad chain Sweetgreen (Revolution) and personal genomics firm 23andMe (NEA). Revolution Growth, started by fellow billionaire Steve Case, makes just two to three investments a year focusing on startups based outside Silicon Valley and New York City.