Science & Technology

Tempus AI Raises $410.7 Million

Tempus AI Inc., which specializes in the development of the technology platform that processes medical data using artificial intelligence, conducted an initial public offering (IPO) at the top of a marketed range to raise $410.7 million.

Tempus AI Raises $410.7 Million

The mentioned company has joined the currently growing number of firms that go public and advertise their achievements in the machine intelligence industry. Tempus AI sold 11.1 million shares at $37 per equity. It is worth noting that the corresponding offer started at $35. The relevant information is contained in the official statement of the company, which was published last Thursday, June 13.

At the IPO price, Tempus AI’s market value is $6.1 billion. This indicator is based on the outstanding shares listed in the company’s filings with the United States Securities and Exchange Commission.

Tempus AI, based in Chicago, was founded in 2015. This company describes its activities as the development of intelligent diagnostics for precision medicine.

The digital platform, designed by Tempus AI, connects laboratory results with the patient’s own clinical data. The company’s statement released on Thursday contains information that the platform is used by more than 7,000 doctors in hundreds of networks of healthcare providers.

Currently, the number of employees of the firm is about 2,300 employees, about 250 of whom hold medical degrees or doctorates.

Tempus AI’s net loss for 2023 was $214 million. The company’s revenue for the past year was fixed at $532 million. The firm’s net loss for 2022 was $290 million. The company’s revenue for the mentioned year was fixed at $321 million.

As we have reported earlier, Linq Raises $6.6 Million to Bring AI to Financial Analysts.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.