Tempus Labs, the Chicago-based precision medicine company founded by Groupon co-founder Eric Lefkofsky, has raised $275 million in a new funding round led by SoftBank Vision Fund.

The round values Tempus at approximately $8.1 billion, up from $6.1 billion in its previous funding round in 2022. Existing investors including NEA, Revolution Growth, and Baillie Gifford also participated.

Tempus has built one of the largest libraries of clinical and molecular data in the world, using AI to match cancer patients with optimal treatments based on their genetic profiles.

The company has been profitable on an EBITDA basis since late 2023 and is widely expected to pursue an IPO in 2024 or early 2025.