Tempo Accelerates

Which EMS has received the most private equity funding over the past few years?

Chances are, it’s Tempo Automation. The San Francisco-based contract assembler just added another $45 million (that’s right) in new capital. That’s on top of the $20 million it garnered a year ago, which it used to build a new factory. Overall, we estimate Tempo has raised around $75 million over its six-year life.

Investors are falling in love with Tempo’s emphasis on software-based manufacturing. It has caught the attention of blue chip OEMs like Lockheed Martin, which is also a customer and investor. The latest round of funding, called a Series C, was led by existing investor, Point72 Ventures and includes an array of new and existing outside investors investors. Series C is typically the final funding round prior to an IPO or acquisition.

In an era where PCB assemblers aren’t rushing to go public, this is an interesting development. Privately held Tempo does not disclose its revenue, but it’s likely to be less than $100 million. That level of investment suggests a high level of confidence by outsiders that Tempo is on the right track.

Read our profile of Tempo here.

https://https://circuitsassembly.com/ca/editorial/menu-features/28301-ems-profiles-1711.htmlcircuitsassembly.com/ca/editorial/menu-features/28301-ems-profiles-1711.html

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About Mike

Mike Buetow is editor-in-chief of Circuits Assembly magazine, the leading publication for electronics manufacturing, and PCD&F, the leading publication for printed circuit design and fabrication. He is also vice president and editorial director of UP Media Group, for which he oversees all editorial and production aspects. He has more than 20 years' experience in the electronics industry, including six years at IPC, an electronics trade association, at which he was a technical projects manager and communications director. He has also held editorial positions at SMT Magazine, community newspapers and in book publishing. He is a graduate of the University of Illinois. Follow Mike on Twitter: @mikebuetow

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