Tempus, a technology company based out of Chicago, announced that they have received $80 million in financial backing from various new and pre- existing investors. In total, the company, who is led by Groupon co- founder Eric Lefkofsky, has raised $210 million in funding since its inception back in 2015, but with the most recent bout of fundraising, the company is now valued at about $1.1 billion. If a company has a valuation above $1 billion, they are given a “unicorn” status, something very few Chicago companies can accomplish.
Tempus employs about 400 people, but that number is going up at a fast rate; approximately 30/ month. This pace is predicted to continue, due to the company using some of its funds to spread its reach.
The company is employing clinical data to find tendencies in the healing of cancer in general and gather subatomic data from patients going through treatment. “And in some cases,” Lefkofsky said, “the data collection can be as simple as digitizing a doctor’s handwritten patient notes so they are searchable and can be stored to expand on treatment options.”
Tempus holds relationships with entities and organizations in all aspects of the healthcare system, including doctors that are looking for a method to use data to more adequately help treat patients.
“I think the traction that we have had with everybody in the industry has been kind of amazing,” he stated. “We’re in the midst of one of the most significant paradigm shifts of our time.”
Some of the contributors to this funding were Revolution Growth and New Enterprise Associates, with new investors, Kinship Trust Company and advised funds by T. Rowe Price Associates.
Eric Lefkofsky was born on September 2, 1969 and is an American billionaire businessman who is the co- founder and CEO of Tempus. He was raised in a Jewish family in Southfield, Michigan. In 1987, he graduated from Southfield- Lathrup High School and afterwards attended the University of Michigan where he graduated with honors in 1991Afterwards he went to the University of Michigan Law School and attained his Juris Doctor in 1993.